Welcome to our dedicated page for Fiesta Restaurant Group news (Ticker: FRGI), a resource for investors and traders seeking the latest updates and insights on Fiesta Restaurant Group stock.
Fiesta Restaurant Group, Inc. (NASDAQ: FRGI) is the parent company of the Pollo Tropical and Taco Cabana restaurant brands. The company specializes in operating fast-casual, ethnic restaurants that offer distinct and unique Caribbean and Mexican inspired flavors. With a focus on providing broad appeal at a compelling value, these brands feature made-from-scratch cooking, fresh salsa bars, and convenient drive-thru service and catering.
Pollo Tropical is renowned for its citrus-marinated chicken, rice bowls, and a variety of tropical sides, while Taco Cabana offers a range of Tex-Mex dishes, including tacos, burritos, and quesadillas, all made with fresh ingredients.
Fiesta Restaurant Group, Inc. continues to innovate and expand its offerings, recently forging strategic partnerships and initiating new projects to enhance customer experience and drive growth. Financially, the company has been focusing on streamlining operations and improving its balance sheet to ensure long-term sustainability and profitability.
For the latest updates and detailed information about the company, visit the corporate website at www.frgi.com.
Fiesta Restaurant Group (NASDAQ: FRGI) will host a conference call on
Additionally, Fiesta will participate in the EF Hutton Global Conference in
Fiesta Restaurant Group, Inc. (NASDAQ: FRGI) announced the appointment of Dirk Montgomery as the permanent President and Chief Executive Officer, effective April 13, 2023. Montgomery has been serving as Interim CEO since December 8, 2022 and previously held the role of Chief Financial Officer since September 9, 2019. The Board of Directors believes Montgomery’s extensive knowledge of the Pollo Tropical brand and operations positions him well to lead the company. Since taking the interim role, he has emphasized strategic initiatives to drive transaction growth and margin expansion while enhancing guest experience and operations excellence. This leadership change aims to unlock the growth potential of the brand.
Fiesta Restaurant Group reported a 9.3% revenue increase to $97.6 million for Q4 2022, driven by an 11.0% rise in comparable restaurant sales at Pollo Tropical. The net loss narrowed to $4.1 million, from $4.7 million YoY, while Adjusted EBITDA rose to $6.9 million from $2.5 million. The company experienced positive momentum in early 2023 with transaction growth recovering, particularly in South Florida. Despite operational challenges, including rising commodity costs and impacts from Hurricanes Ian and Nicole, Fiesta aims for an 18% restaurant-level operating margin in 2023. Significant G&A reductions are also being pursued to enhance profitability.
Fiesta Restaurant Group, Inc. (NASDAQ: FRGI) will host a conference call on
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