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FAT Brands Inc. is a global, multi-brand restaurant franchising company that strategically develops, markets, and acquires various restaurant concepts worldwide. With over 300 locations, including Fatburger, Buffalo’s Cafe, Buffalo's Express, and Ponderosa & Bonanza Steakhouse, the company's dedicated support teams assist franchisees in operations, construction, purchasing, training, and marketing to achieve entrepreneurial success. The company offers diverse restaurant concepts for franchisees to grow and expand their portfolios across different industry segments.FAT Brands reported a strong fourth quarter and 2022 financial performance, with total revenue soaring 39.9% to $103.8 million. The company opened over 140 new stores throughout the year, marking significant growth and achieving system-wide sales growth of 22.1% in Q4. However, FAT Brands faced a net loss of $70.8 million in Q4, increasing from $19.6 million in the previous year. For the fiscal year 2022, revenue jumped 242.5% to $407.2 million, yet a net loss of $126.2 million was recorded. The company aims to open another 150-175 units in 2023 while focusing on reducing its leverage ratio.
LOS ANGELES, Feb. 22, 2023 - Johnny Rockets has launched a Chicken & Waffle Sandwich, utilizing Eggo Waffles as the bun. This unique offering includes crispy chicken, bacon, and syrup between two fluffy waffles, alongside a new Iced Coffee Shake. The collaboration aims to resonate with fans of both brands and is available for a limited time until April 30. This menu innovation aligns with Johnny Rockets' commitment to fresh, classic American fare. FAT Brands, which owns Johnny Rockets, continues to expand its culinary offerings, enhancing its market presence.
FAT Brands (NASDAQ: FAT) announced a conference call set for February 22, 2023, at 5:00 PM ET to discuss its fourth quarter and fiscal year 2022 financial results. A press release with the detailed financials will be distributed prior to the call. The call will be hosted by Andy Wiederhorn, President and CEO, and Ken Kuick, CFO. Participants can join via phone or by accessing the live webcast on the company’s corporate website. FAT Brands operates 17 restaurant brands, including Fatburger and Johnny Rockets, with over 2,300 units worldwide.
FAT Brands announced the opening of Great American Cookies in the Chicago suburbs of Schaumburg and Orland Park. The new locations will offer a variety of fresh-baked cookies and Create-Your-Own Cookie Cakes. FAT Brands aims to grow its presence strategically, with confidence in these communities appreciating their homemade treats. The Schaumburg location is at Woodfield Mall, while the Orland Park location is at Orland Square Drive. Great American Cookies, founded in 1977, is known for its Original Cookie Cake and will continue to expand its reach with more than 370 locations nationwide.
DALLAS, Feb. 13, 2023 – FAT Brands announced robust growth in 2022 for Twin Peaks, opening nine new restaurants and signing four area development agreements for 26 future locations in the U.S. and one in Mexico. The brand is on track to surpass 100 locations by spring 2023, with 95 currently open. CEO Joe Hummel highlighted Twin Peaks’ achievements, including top rankings in industry awards. The company plans to introduce 18-20 new restaurants in 2023, enhance its menu offerings, and expand its marketing efforts surrounding major sports events.
FAT Brands Inc. reported a remarkable year of growth, opening 142 new stores in 2022 and adding 362 stores to its development pipeline across 29 states and 17 countries. The company’s concepts led the expansion, with Fatburger and Buffalo’s Express contributing 86 stores, followed by Fazoli’s with 61, and Round Table Pizza with 56. Strategic agreements included 80 stores for Fatburger in Texas and a 32-store deal for Twin Peaks in Mexico. FAT Brands aims to open 175 new locations in 2023, capitalizing on its strong franchisee interest and a robust portfolio of popular restaurant brands.
FAT Brands has announced the opening of its first Great American Cookies location in New Mexico, situated in Albuquerque. The store features a variety of treats, including Custom Cookie Cakes and chocolate chip cookies, appealing to both local residents and fans of the brand. President Jenn Johnston emphasized the excitement surrounding the launch, noting the positive community reception. Great American Cookies has a rich history dating back to 1977, known for its Original Cookie Cake and signature recipes. The Albuquerque location will operate daily, offering a warm community space for cookie lovers.
FAT Brands announces a development agreement with franchisee Jorge Rodriguez Lockwood to open five Fazoli’s locations in Puerto Rico over the next six years, marking its first foray into the market. The first location is set to debut in late 2023, capitalizing on the growing demand for quick-service restaurants in the region. Fazoli’s, known for its premium Italian cuisine, has been recognized for its quality and safety standards, including accolades from FastCasual and the American Business Awards.
FAT Brands Inc. (NASDAQ: FAT) has declared a cash dividend of $0.14 per share on Class A and Class B common stock for the first quarter of fiscal 2023. This dividend is payable on March 1, 2023, to shareholders on record by February 15, 2023. The future declaration of dividends will depend on the company’s financial condition, operational results, and cash needs.
FAT Brands Inc. (NASDAQ: FAT) announced its participation in the 2023 ICR Conference, where CEO Andy Wiederhorn and Executive Chairman Jim Neuhauser will host a fireside chat on January 9, 2023, at 4:00 PM ET. Institutional investors can schedule 1x1 meetings with the management team. The chat will be webcast live and available for replay for 90 days on the FAT Brands Investor Relations website. FAT Brands is a global franchising company with 17 restaurant brands and over 2,300 units worldwide.
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