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. (NASDAQ: FAT) is a global restaurant franchising company whose news flow reflects activity across 18 distinct restaurant concepts. As the parent of brands such as Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean, and Ponderosa and Bonanza Steakhouses, the company regularly issues updates that span multiple dining categories.
On this page, readers can find coverage of brand-level promotions and menu launches, such as new pizzas from Round Table Pizza, limited-time cookie cakes and seasonal offerings from Great American Cookies, and expansion news from Fazoli’s and Fatburger. News items also highlight store openings in new and existing markets, including co-branded locations that combine concepts like Fatburger and Buffalo’s Express.
FAT Brands also releases corporate and financial announcements, including quarterly financial results, participation in investor conferences such as the ICR Conference, and statements from management about system-wide performance, new restaurant openings, co-branding initiatives, and strategic partnerships. These updates provide insight into how the company manages its multi-brand portfolio and restaurant development pipeline.
Investors and followers of the restaurant and food service sector can use this news feed to track how FAT Brands’ concepts evolve, how the company approaches growth across fast casual, quick-service, casual dining, and polished casual dining formats, and how its franchising network responds through new units, marketing campaigns, and brand collaborations.
FAT Brands Inc. (Nasdaq: FAT) has withdrawn its proposed registered public offering of Class A Common Stock due to unfavorable market conditions. CEO Andy Wiederhorn stated that while there was significant interest, the terms available were not attractive enough to proceed. The company will continue to monitor the market for future opportunities. FAT Brands operates 17 restaurant brands with over 2,300 units worldwide, emphasizing its focus on franchising and global expansion.
FAT Brands Inc. (Nasdaq: FAT, FATBP, FATBW) announced its intention to conduct an underwritten public offering of Class A Common Stock, with all shares to be sold by the company. The offering will also include a 45-day option for underwriters to purchase an additional 15% of the shares for over-allotments. The offering is subject to market conditions, and details will be outlined in a preliminary prospectus supplement to be filed with the SEC. ThinkEquity is the sole book-running manager for this offering.
FAT Brands Inc. announces a strategic partnership with Brame Holdings LLC to open 80 new franchised locations in Texas over the next decade. The expansion includes 40 Round Table Pizza and 40 co-branded Fatburger and Buffalo’s Express locations, starting in 2023. This initiative aims to meet the rising demand for quality pizza, burgers, and wings in the region. The company emphasizes Texas as a key growth market, with existing success noted in the Dallas area.
FAT Brands has unveiled a refreshed look for its iconic Hot Dog on a Stick location at Muscle Beach, Santa Monica, marking a significant milestone in its 75-year history. The updated venue will officially reopen in April 2023, coinciding with the anniversary of the brand founded in 1946. This renovation aims to enhance customer experience while preserving the nostalgic essence of the original site. Hot Dog on a Stick continues to thrive, offering signature products like hand-stomped lemonade and made-to-order hot dogs, alongside a friendly service environment.
FAT Brands Inc. (NASDAQ: FAT) announced a cash dividend of $0.14 per share for its fiscal 2022 fourth quarter, payable on December 1, 2022, to shareholders of record as of November 15, 2022. This dividend, applicable to Class A and Class B common stock, reflects the company's ongoing commitment to returning value to its shareholders. However, the declaration of future dividends will depend on various factors including operational results and financial stability.
FAT Brands Inc. announced the opening of 100 new franchised locations in 2022, marking its first year surpassing 100 openings since its inception in 2017. The company plans to add approximately 25 more locations by year-end, with a focus on organic expansion following strategic acquisitions in 2021. Notable new locations include openings in Mexico and the Democratic Republic of Congo. CEO Andy Wiederhorn highlighted a development pipeline of over 1,000 units, showcasing the strong appeal of their restaurant brands.
FAT Brands has announced the redemption of 1,821,831 shares of its 8.25% Series B Cumulative Preferred Stock for $43.2 million. The redemption price was $23.69 per share, plus accrued dividends. The move is expected to generate significant cash flow savings for the company, as its new securitization facility offers a lower cost of capital compared to the dividend rate on the redeemed stock. This strategic decision reflects FAT Brands’ focus on improving its financial position and operational efficiency.
FAT Brands Inc. reported a fiscal Q3 2022 revenue of $103.2 million, a 247% increase from $29.8 million in Q3 2021. System-wide sales grew by 57% year-over-year, with 38 new store openings, exceeding the year-to-date milestone of 100 openings. Despite strong revenue growth, the company faced a net loss of $23.4 million, or $1.42 per diluted share. Adjusted EBITDA improved to $24.6 million compared to $7.2 million in the previous year. Looking forward, FAT anticipates opening over 130 new units in 2023 and has a pipeline of over 1,000 new franchise agreements.
FAT Brands Inc. (NASDAQ: FAT), a prominent global franchising company, has announced its participation in The ThinkEquity Conference on October 26, 2022, at the Mandarin Oriental Hotel in New York. CEO Andy Wiederhorn will present at 11:30 AM ET, and the company will conduct one-on-one investor meetings during the event. A live webcast of the presentation will be accessible on the Company's Investor Relations website. FAT Brands operates 17 restaurant brands, including Fatburger and Johnny Rockets, with over 2,300 locations worldwide.
FAT Brands (NASDAQ: FAT) will host a conference call on October 20, 2022, at 5:00 PM ET to discuss third quarter 2022 financial results. The call will be led by Andy Wiederhorn, President and CEO, and Ken Kuick, CFO. A press release with the financial results will precede the call. Live access is available at 1-877-704-4453 in the U.S. and 1-201-389-0920 internationally, with a replay until October 27, 2022. The call will also be webcast on the corporate website under the “Investors” section.
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