BBQ Holdings, Inc. - BBQ STOCK NEWS

BBQ Holdings has successfully completed the acquisition of Village Inn and Bakers Square, expanding its restaurant portfolio. Village Inn operates 21 company-owned and 114 franchised locations, while Bakers Square features 12 company-owned outlets known for award-winning pies. CEO Jeff Crivello expressed enthusiasm for this strategic addition, which is expected to enhance growth opportunities. With a solid foundation laid by previous leadership, both brands aim for future expansion. BBQ Holdings now encompasses 282 locations and continues to diversify its culinary offerings.

BBQ Holdings, Inc. (Nasdaq: BBQ) announced the closing of a private investment in public equity (PIPE), generating $13 million in gross proceeds. The investment, finalized on June 24, 2021, was led by Nantahala Capital Management. The company intends to use these funds for growth initiatives. CEO Jeff Crivello expressed excitement about the partnership, anticipating opportunities for the brand's development. The securities from this placement remain unregistered under the Securities Act of 1933 and will be registered for resale with the SEC.

BBQ Holdings, Inc. (NASDAQ: BBQ) has updated its fiscal 2021 guidance following the acquisition of Village Inn and Bakers Square. The company forecasts:

• Net Restaurant Revenue: $180-$185 million (up from $155-$160 million).
• Net Income: $5.1-$5.5 million (previously $2.8-$3.2 million).
• Cash EBITDA: $13.5-$14.0 million (increased from $10.0-$10.5 million).

The acquisition includes 114 franchised Village Inn restaurants, 21 corporate Village Inn restaurants, and 13 corporate Bakers Square restaurants. Expansion plans for Village Inn will commence in early 2022.

BBQ Holdings is expanding its restaurant portfolio by acquiring Village Inn and Bakers Square, two family restaurant concepts. The deal, set to close by the end of July 2021, adds 21 company-owned and 114 franchised Village Inn locations, along with 13 Bakers Square restaurants to BBQ Holdings’ existing brands. This acquisition aims to enhance BBQ Holdings' market presence and create a synergistic growth strategy within its restaurant operations.

On May 19, 2021, BBQ Holdings updated its financial outlook for 2021 following positive Q1 results. The company reported adjusted EBITDA of $3.1 million, net income of $799,000, and a 56.4% year-over-year revenue increase to $37.3 million. Same-store sales for company-owned Famous Dave’s surged 17.7%. The firm anticipates net revenue between $155 - $160 million and increased net income guidance of $2.8 – $3.2 million. New restaurant prototypes are underway, including a drive-thru model in Utah expected to open in July 2021, indicating a strong growth trajectory amid ongoing COVID-19 challenges.

BBQ Holdings, Inc. (NASDAQ: BBQ) has issued its revenue and earnings guidance for fiscal year 2021. The company expects revenue between $150 million and $155 million, with net income projected at $1.7 million to $2.1 million and cash EBITDA between $8.5 million and $9 million. CEO Jeff Crivello expressed optimism about increased demand for dining as COVID restrictions adjust. The detailed presentation is available online.

BBQ Holdings, Inc. (NASDAQ: BBQ) reported its fourth quarter and fiscal year results ending January 3, 2021, with significant impacts from COVID-19. The adjusted EBITDA for Q4 was $1.4 million, despite a net loss of $2.8 million. Same store sales declined across brands, with Famous Dave's down 5.5% and Granite City down 40.7% compared to Q4 2019. Despite challenges, the company saw a 45.3% revenue increase year-over-year, totaling $34.3 million for Q4, bolstered by the addition of new locations. Looking ahead, BBQ Holdings anticipates improved sales trends as restrictions ease.

BBQ Holdings is set to expand its Famous Dave’s restaurant brand with new Quick ‘Que models in Las Vegas and Salt Lake City. The Las Vegas location will feature a line-serve model opening in early June, while the Salt Lake City site will offer a counter-serve model with a Drive-Thru, also launching in June. These models aim to provide faster service and cost-effective operations. CEO Jeff Crivello expressed confidence in the model's potential to enhance customer experience and profitability for franchisees, with plans to open five new locations in 2021.

BBQ Holdings, Inc. (NASDAQ: BBQ) reported its Q4 2020 sales, showing a mixed performance. Famous Dave’s had a 5.5% decrease in comparable sales, with a significant 10.4% drop in December. Granite City saw a steep 40.7% decline in comparable sales. However, in the partial Q1 2021, Famous Dave’s rebounded with a 9.3% increase, driven by a 43.9% rise in March, while Granite City experienced a 10.6% decrease overall but a notable 60.8% jump in March.

CEO Jeff Crivello expressed optimism about returning customer loyalty as pandemic restrictions ease.