BurgerFi International, Inc. - BFI STOCK NEWS

BurgerFi International Inc. (Nasdaq: BFI, BFIIW) announced the opening of a new franchise restaurant in Orlando's O-Town West district on February 3, 2023. The new location, owned by franchisee CJ Kaawach, will offer a variety of high-quality food including chef-crafted burgers, fresh-cut fries, and frozen custard shakes. Operating hours are 11 AM to 9 PM Sunday through Thursday and 11 AM to 10 PM on weekends. The company's commitment to using all-natural ingredients is emphasized, featuring 100% Angus Beef without steroids or additives. The O-Town West restaurant aims to meet the growing consumer demand for quality fast-casual dining.

BurgerFi International has announced the opening of its latest restaurant at Newark Liberty International Airport on January 17, 2023. This location caters to travelers seeking quality meal options before flights, offering a menu that includes 100% All-Natural Beef burgers and various signature dishes like the VegeFi Burger and Wagyu CEO Burger. The restaurant will operate daily from 6 am to 10 pm. BurgerFi aims to increase brand visibility and presence in airports nationwide, having already established locations in several major airports.

BurgerFi International (Nasdaq: BFI, BFIIW) reported preliminary sales of approximately $178 million for fiscal year 2022, with plans for 15-20 new franchised restaurants in 2023. Management anticipates revenues of $175-$180 million and adjusted EBITDA of $10-12 million for 2023. The company emphasizes the integration of the Anthony’s brand and aims for low single-digit same-store sales growth. Notably, there were 11 new BurgerFi locations opened, although there were 5 franchise closures.

BurgerFi International (Nasdaq: BFI) showcased its innovative OnMyWay™ Mobile Retail Network™ at CES on January 5, 2023. This partnership with MAVI.io enables in-car ordering for fast-casual dining, using a connected car platform to provide real-time inventory and location-based services. Attendees tested the system at four demonstration sites, highlighting the convenience of curbside pickup. The collaboration aims to enhance customer experience and supports BurgerFi's expansion strategy along the Eastern seaboard.

BurgerFi International, Inc. (NASDAQ: BFI, BFIIW) announced participation in the 2023 ICR Conference on January 9, 2023. CEO Ian Baines and CFO Mike Rabinovitch will host a fireside chat at 8:00 a.m. Eastern Time, which will be webcast live and available for replay on the Investor Relations website. The company will also conduct 1x1 investor meetings and breakout sessions on January 9th-10th. Established in 2011, BurgerFi operates 114 restaurant locations and was recognized for its quality food offerings, including no antibiotic beef.

BurgerFi International Inc. (Nasdaq: BFI) hosted a blind pizza and wine tasting on December 18, 2022, benefiting Lotus House, the largest shelter for women and children in the U.S. Over the past two years, Anthony's Coal Fired Pizza & Wings, part of BurgerFi's portfolio, has donated more than $350,000 to assist organizations fighting homelessness and hunger. With over 500 women and children supported daily, Lotus House provides vital resources. The event is one of 48 charity activities planned by Anthony's this month to support local communities.

BurgerFi International (Nasdaq: BFI) has announced the launch of the ConverseNow AI phone answering system across all 60 corporate locations of Anthony's Coal Fired Pizza & Wings. This initiative aims to improve customer service by handling 100% of phone orders, which currently account for 15% of the restaurant's sales, and is expected to increase average check sizes by 10-12%. With off-premises orders constituting nearly 50% of total sales, the AI system is positioned to meet growing demand. The announcement follows a franchising agreement for three new locations in Florida.

BurgerFi International reported a significant revenue increase of 290%, totaling $43.3 million in Q3 2022, compared to $11.1 million the previous year, largely due to the acquisition of Anthony's. Systemwide restaurant sales also grew 71% to $70.6 million. However, BurgerFi experienced a 5% decrease in systemwide sales, while Anthony's grew by 4%. Despite operational improvements, the company reported a net loss of $3.3 million, although this was an improvement from the previous year's loss of $5.0 million. Management remains optimistic about future growth opportunities.

BURGERFI International (NASDAQ: BFI, BFIIW) announced participation in the Benchmark Company's 11th Annual Discovery One-on-One Investor Conference on December 1, 2022, at the New York Athletic Club. The event allows emerging growth companies to meet with institutional investors through scheduled one-on-one meetings. BurgerFi, known for its fresh, quality food and rapid growth, operates 117 locations across its brands, including BurgerFi and Anthony's Coal Fired Pizza. The company seeks to engage with investors to discuss its expansion and performance in the competitive fast-casual dining sector.