Fiesta Restaurant Group, Inc. - FRGI STOCK NEWS

Pollo Tropical is introducing a Cuban Hot Dog just in time for the Fourth of July Weekend. This unique offering combines an all-beef frank topped with ham, Swiss cheese, pickles, papitas, and a mayo-mustard drizzle. Available from July 2 to July 5 at locations throughout Florida and via the MyPollo app. Additionally, a new Rum Mojito cocktail will be offered at $2 each, featuring real white rum and mint flavors. Pollo Tropical, part of Fiesta Restaurant Group (NASDAQ: FRGI), operates over 140 locations in Florida focusing on fresh, quality food.

Pollo Tropical has introduced a new Rum Mojito, marking the brand's first proprietary cocktail, priced at $2. This move comes ahead of summer and aims to enhance the dining experience by pairing the drink with their menu. The 5.8% ABV cocktail is crafted with real white rum, lime, and mint, and is available at most locations across Florida for dine-in, drive-thru, and takeout. The drink is produced in South Florida and is a significant addition to Pollo Tropical's offerings as the company continues to focus on providing quality and value to its customers.

Fiesta Restaurant Group (NASDAQ: FRGI) reported first-quarter results for the period ending April 4, 2021. Total revenues decreased by 1.3% to $144.7 million, with Pollo Tropical's comparable sales up 4.3% compared to 2020, while Taco Cabana saw a 4.3% decrease. Despite a net loss of $2.1 million, the company achieved a significant Adjusted EBITDA of $12.9 million, reflecting a 63% increase year-over-year. The impact of Winter Storm Uri was estimated at $1.9 million on Adjusted EBITDA. Management is optimistic about growth initiatives and continued investment in digital platforms.

Fiesta Restaurant Group, Inc. (NASDAQ: FRGI) will host a conference call on May 13, 2021, at 4:30 P.M. ET to discuss its first quarter fiscal 2021 results. The results will be released after market close on the same day. Interested parties can join the conference call by dialing 631-891-4304, with a replay available until May 20, 2021, using passcode 10014361. The call will also be webcast live and archived on their corporate website under the Investor Relations section.

Fiesta Restaurant Group (NASDAQ: FRGI) reported its fourth quarter 2020 results, revealing a 6.6% revenue drop to $148.9 million. Despite challenges, both Pollo Tropical and Taco Cabana showed improved comparable sales, with Pollo Tropical's decline narrowing from -11.1% to -8.2%. Adjusted EBITDA reached $14.6 million, a 42% year-over-year increase. The company significantly reduced its debt from $148.4 million to $73.3 million since the pandemic began. Looking ahead, Fiesta anticipates positive sales trends in 2021, driven by digital enhancements and off-premise sales growth.

Fiesta Restaurant Group, parent company of Pollo Tropical and Taco Cabana, will host a conference call on March 4, 2021, at 4:30 P.M. ET to discuss its fourth quarter and full year 2020 results. A press release with the financial outcomes will be issued after market close on the same day. The call is accessible live by dialing 631-891-4304, with a replay option available until March 11, 2021. The conference call will also be webcasted and archived on the company's website.

Pollo Tropical, in collaboration with the Miami HEAT, has launched the "HEAT Lineup" featuring a Spicy Crispy Chicken Sandwich, a Spicy Tostón Sandwich, and Spicy HEAT Sauce available in Florida restaurants. The new menu items, designed to attract fans of both brands, showcase fresh ingredients and bold flavors. Hope Diaz, the Chief Marketing Officer of Fiesta Restaurant Group, expressed excitement over bringing new options to customers, while Glen Oskin from the Miami HEAT emphasized the partnership's significance since both brands are well-known in South Florida.

On January 19, 2021, Pollo Tropical launched new menu items, including the Vegan Picadillo made with Beyond Beef. The Vegan Picadillo is available in a Tropichop® or Wrap, featuring plant-based meat, peppers, and onions. Additionally, Pollo introduced the Balsamic Tomato Chicken, at only 180 calories for $4.99. These items complement the recently added Cuban Pressed Sandwiches. All new offerings are available for dine-in, curbside pick-up, and delivery through the MyPollo® app. Pollo Tropical is a subsidiary of Fiesta Restaurant Group, Inc. (NASDAQ: FRGI).

Fiesta Restaurant Group (NASDAQ: FRGI) reported an improvement in comparable restaurant sales for its brands, Pollo Tropical and Taco Cabana, in the fourth quarter of fiscal 2020. Sales for Pollo Tropical improved from -11.1% to -6.4%, while Taco Cabana saw a rise from -14.2% to -10.2%. The company highlighted their new Senior Credit Facility, which provides $75 million in term loans and $10 million revolver, enabling increased liquidity through 2025. Future plans include enhancing online ordering and drive-thru capabilities to drive profitable sales growth.