First Watch Restaurant Group, Inc. - FWRG STOCK NEWS

First Watch has unveiled a new seasonal menu featuring a mix of autumn-inspired dishes, available nationwide until October 30, 2022. Highlights include the Modern Croque Madame and Pumpkin Pancake Breakfast, showcasing a blend of comfort food and fresh ingredients. Additionally, the menu offers a new juice blend, Pomegranate Pear Punch. This initiative reflects First Watch's commitment to culinary innovation and enhancing guest experiences. The company currently operates over 445 locations across the U.S.

First Watch Restaurant Group (NASDAQ: FWRG) announces the retirement of Ken Pendery, Jr., effective September 1, 2022, after nearly 40 years with the company. Pendery played a pivotal role in the brand's development since its inception in 1983, driving growth and establishing a strong organizational culture. He served as a director since 2017 and as Chairman Emeritus since 2019. CEO Chris Tomasso praised Pendery's leadership and commitment, stating his legacy will continue to influence the company as it enters a new chapter.

First Watch Restaurant Group (FWRG) reported a strong Q2 2022 with system-wide sales growth of 20.0% to $231.2 million and same-restaurant sales growth of 13.4%, supported by an 8.1% traffic increase. However, the income from operations margin decreased to 2.8% from 8.1% year-over-year, impacted by inflation and wage increases. Net income fell to $2.7 million ($0.05 per diluted share) compared to $3.8 million ($0.08 per diluted share) in Q2 2021. The company raised its fiscal 2022 guidance, projecting total revenue growth of approximately 20.0%.

First Watch (NASDAQ: FWRG), a leader in Daytime Dining, is taking significant steps toward environmental sustainability by partnering with WinCup, Inc. to replace around 30 million plastic straws annually with phade^®, compostable drinking straws. The new straws, which resemble traditional plastic but decompose naturally within months, will be rolled out nationwide following successful trials. First Watch, recognized as the fastest growing full-service restaurant company in 2021, emphasizes enhancing customer experiences while prioritizing sustainability in its operations.

First Watch Restaurant Group (NASDAQ: FWRG) is set to release its Q2 2022 financial results on August 9, 2022, before market opening. Following the announcement, a conference call and webcast will take place at 8:00 AM ET, featuring CEO Chris Tomasso and CFO Mel Hope. Interested listeners can participate via telephone or through a webcast available on the Company’s investor site.

Recognized for its breakfast, brunch, and lunch offerings, First Watch continues to grow with over 440 locations across 28 states.

First Watch Restaurant Group has appointed Stephanie Lilak, Chief People Officer at Bumble Inc., to its Board of Directors, effective June 17, 2022. This strategic move aims to leverage Lilak's extensive experience in human resources within the food and restaurant industry to enhance First Watch's growth and its 'You First' culture. Lilak's past roles include Chief Human Resources Officer at Dunkin’ Brands and over two decades in HR leadership at General Mills.

First Watch has launched a new seasonal menu featuring dishes inspired by authentic Mexican proteins. Available nationwide through August 14, the menu introduces items like the Barbacoa Quesadilla Benedict and Hacienda Hash, alongside refreshing seasonal drinks like Watermelon Wake-Up. The additions emphasize premium ingredients and vibrant flavors, responding to customer demand for new experiences. First Watch continues to operate its breakfast and brunch service seven days a week, focusing on freshness and quality.

First Watch Restaurant Group (NASDAQ: FWRG) announced participation in three upcoming investor conferences. The events include a fireside chat at Piper Sandler’s Year of the Restaurant Industry Summit on June 8, 2022, and Stifel’s 2022 Cross Sector Insight Conference on June 9, 2022. Additionally, a virtual fireside chat at the Jefferies Consumer Conference will begin on June 20, 2022, with in-person meetings on June 21-22. Investors can access live webcasts and recordings of the presentations on their investor relations website.

First Watch has partnered with the V Foundation for Cancer Research to support pediatric cancer initiatives. From every kids meal sold, 25 cents will be donated to the Dick Vitale Fund, aiming to raise approximately $500,000 in the first year. The initiative reflects First Watch's ongoing commitment to philanthropy and community support, recently highlighted by the V Foundation’s gala raising over $11 million. This partnership aligns with a broader mission to enhance funding for pediatric cancer research, with 100% of donations directed to this cause.