Welcome to our dedicated page for FAT Brands news (Ticker: FAT), a resource for investors and traders seeking the latest updates and insights on FAT Brands stock.
FAT Brands Inc. (symbol: FAT) is a prominent global player in the restaurant franchising industry. The company specializes in developing, marketing, and acquiring diverse restaurant concepts on an international scale. With a portfolio that includes Fatburger, Buffalo’s Cafe, Buffalo's Express, and Ponderosa & Bonanza Steakhouse among others, FAT Brands operates over 300 locations worldwide.
The company's business model primarily revolves around franchising. FAT Brands generates revenue by charging franchisees initial franchise fees and ongoing royalties. Although the company generally does not own or operate the restaurant locations, it does directly own and operate some units for specific brands.
FAT Brands is dedicated to providing comprehensive support to its franchisees, thereby ensuring their success. Their in-house support teams – spanning operations, construction, purchasing, architecture & design, kitchen design, training, logistics, and marketing – bring a wealth of experience and dedication to the table. This allows franchisees to operate their businesses with a high degree of independence while still benefiting from the company's extensive resources.
The company’s strategically aligned restaurant concepts offer franchisees opportunities for sustained growth and diversification. This approach enables franchisees to develop within multiple brands and industry segments, thereby enriching their portfolio.
Some of the well-known brands under the FAT Brands umbrella include Round Table Pizza, Johnny Rockets, Twin Peaks, and Elevation Burger. The majority of FAT Brands' revenue is generated from the United States, with the rest coming from other countries.
Recent Achievements and News:
- FAT Brands Inc. has recently released its consolidated statements of operations, EBITDA, and adjusted EBITDA reconciliation.
- Notable partnerships and media engagements include representation by Erin Mandzik in media relations and investor relations.
- Ongoing projects include expansion into new geographical territories and enhancement of existing restaurant concepts.
FAT Brands Inc. continues to thrive by leveraging its multi-brand strategy and commitment to franchisee success, maintaining its position as a leading force in the global franchising market.
FAT Brands Inc. has opened a new Fatburger location at the Excalibur Hotel & Casino on the Las Vegas Strip, marking its third casino presence in Las Vegas. This expansion follows the brand's successes at Red Rock Casino and Santa Fe Station. The Excalibur location will serve a full menu, including breakfast items and unique spiked milkshakes. FAT Brands plans to open another Fatburger at The Venetian Resort Las Vegas later this summer, further enhancing its footprint in the vibrant Las Vegas dining scene.
FAT Brands reported exceptional fiscal Q1 2022 financial results, marking a significant rebound from 2021. Total revenue soared to $97.4 million, a 1,365% increase from $6.6 million in Q1 2021. Adjusted EBITDA improved to $15.1 million, up from $1.1 million year-on-year. Same-store sales rose 16.8%, with 27 new restaurants opened. However, the company faced a net loss of $23.8 million or $1.45 per diluted share, compared to a loss of $2.4 million or $0.20 in the previous year. The company aims to open approximately 120 new locations in 2022.
Hot Dog on a Stick, part of FAT Brands, introduces a limited-time lemonade flavor: JOLLY RANCHER Blue Raspberry. Available throughout May, this tart lemonade blends with the candy's bold flavor, enhancing the brand's known offerings like hot dogs and cheese on a stick. Katie Thoms, Senior Director of Marketing, expressed confidence in the collaboration, aiming to deliver happiness through nostalgic flavors. FAT Brands, a global franchising company, manages 17 restaurant brands, operating over 2,300 units worldwide.
FAT Brands Inc. (NASDAQ: FAT) will host a conference call on May 5, 2022, at 6:00 PM ET, to discuss its first-quarter financial results. A press release with the results will precede the call. Participants can join by dialing 1-888-224-1121 from the U.S. or 1-773-305-6853 internationally. Replays will be available until May 12, 2022. The event will be led by CEO Andy Wiederhorn and CFO Ken Kuick. FAT Brands, a global franchising leader, encompasses 17 restaurant brands and operates over 2,300 units worldwide.
FAT Brands, parent of Fatburger, has opened its first theme park location at Six Flags Great Adventure in Jackson, NJ. This marks the second Fatburger in New Jersey, offering park visitors a menu of cooked-to-order burgers, fries, and milkshakes. COO Jake Berchtold expressed excitement about this partnership, emphasizing the brand's growth in the theme park sector. Founded 70 years ago in Los Angeles, Fatburger is celebrated for its quality burgers and unique toppings. The brand currently owns 17 restaurant concepts and franchises over 2,300 units worldwide.
FAT Brands Inc. (NASDAQ: FAT) has announced a cash dividend of $0.13 per share for the second quarter of fiscal 2022, payable on June 1, 2022, to shareholders on record as of May 16, 2022. The company's Board of Directors retains discretion over future dividends, which will depend on factors such as financial condition and operational results. FAT Brands owns 17 restaurant brands, operating over 2,300 units globally, including well-known names like Fatburger and Round Table Pizza.
FAT Brands has appointed Michael G. Chachula as its first Chief Information Officer, effective immediately. With over 25 years of experience in technology and business management, Chachula aims to enhance the company’s technology platforms to support its growth. His previous roles include Head of Digital and Revenue Growth at The Coffee Bean & Tea Leaf and Executive Director for IHOP, where he led significant technology innovations. FAT Brands, which owns 17 restaurant brands and franchises over 2,300 units globally, seeks to improve efficiency and profitability through this strategic hire.
FAT Brands reported strong franchisee demand in its Quick-Service Division, signing 20 new development deals for over 50 units following its acquisition of Global Franchise Group in June 2021. The division includes brands like Round Table Pizza and Great American Cookies. Notably, same-store sales grew by 10.6% compared to 2019. The company is set to open over 30 locations in 2022, expanding its footprint in markets like Nashville and California.
Great American Cookies is set to continue its tradition of offering free cookies on Tax Day, April 18, 2022. Customers can receive one Original Chocolate Chip Cookie with any purchase at participating locations, using the promotional code TAX. This initiative has been ongoing for nearly a decade and aims to provide a sweet treat to alleviate the stress associated with tax filing. According to Katie Thoms, the Senior Director of Marketing at FAT Brands, this tradition strengthens customer loyalty and enhances the Tax Day experience.
Great American Cookies introduces the Kitchen Sink Cookie on April 1, featuring a mix of ingredients like almonds, oats, cranberries, chocolate chips, and M&M’S MINIS. This limited-time offering will be available until April 30. Co-branded locations with Marble Slab Creamery will also offer cookies as ice cream sandwiches. To celebrate, a ‘Two for Tuesday’ deal will provide rewards program members with buy one, get one free or $2 off a dozen cookies on April 5. Great American Cookies has over 370 locations, part of FAT Brands, which oversees 17 restaurant brands globally.
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