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Pinstripes Holdings, Inc. (Symbol: PNST) is a unique experiential dining and entertainment company that seamlessly blends exceptional Italian-American cuisine with engaging activities such as bowling and bocce. Founded on the principle of creating memorable experiences, Pinstripes operates approximately 13 restaurants across the United States. Each location is a large-format venue, boasting an interior space ranging from 26,000 to 38,000 square feet, complemented by outdoor patios with dining areas, bocce courts, fire pits, and decorative fountains.
The company's core business focuses on delivering an all-encompassing dining and entertainment experience, differentiating it from traditional restaurants and entertainment venues. Pinstripes is renowned for its commitment to quality, offering a curated menu that combines classic Italian-American dishes with modern culinary trends. The spacious venues are designed to cater to various private events, making them popular choices for corporate gatherings, weddings, and social celebrations.
Recent achievements for Pinstripes include the expansion of its footprint within the United States, with new locations opening in key markets. These expansions are part of the company's strategic growth plan to increase its presence and brand visibility. In addition to physical growth, Pinstripes has developed strategic partnerships with local communities and businesses, further solidifying its role as a key player in the experiential dining sector.
Financially, Pinstripes Holdings has shown consistent performance, with revenues driven by strong customer engagement and repeat business. The company's innovative approach to combining dining and entertainment has resulted in a loyal customer base and positive market reception.
Current projects at Pinstripes include the enhancement of its menu offerings, incorporating seasonal dishes and healthier options to meet evolving consumer preferences. The company is also investing in technology to streamline operations and enhance the customer experience, such as online reservations and event booking systems.
With a clear focus on creating unique and enjoyable experiences, Pinstripes Holdings, Inc. continues to distinguish itself in the competitive dining and entertainment landscape. The company's commitment to quality, coupled with its strategic growth initiatives, positions it well for continued success and expansion.
Pinstripes (NYSE: PNST) reported fiscal Q2 2025 results with total revenue increasing 7.5% to $26.5 million. Food and beverage revenues grew 8.6% to $21.1 million, while recreation revenues rose 3.6% to $5.4 million. The company reported an operating loss of $7.9 million and a net loss of $9.3 million. Same-store sales decreased by 9.4%, and Venue-Level EBITDA was $1.3 million. The company has made progress on removing $15 million in annualized costs and opened its 18th location in Walnut Creek, CA on November 15, 2024.
Pinstripes Holdings (NYSE: PNST) has scheduled its fiscal second quarter 2025 financial results announcement for November 26, 2024. The company will release its financial results after market close, followed by a conference call at 5:00 PM Eastern Time. The call will be hosted by CEO Dale Schwartz and CFO Tony Querciagrossa. Investors can access the call by dialing 201-389-0920, with a replay available until December 10, 2024, at 412-317-6671 (passcode: 13749807). A live webcast will be available on pinstripes.com's investors section.
Pinstripes Holdings (NYSE: PNST) announces the opening of its new location in Walnut Creek at Broadway Plaza on November 15, marking its second San Francisco-area venue and 18th nationwide location. The new 25,000-square-foot establishment features a full-service bistro offering Italian-American cuisine, eight bowling lanes, two indoor bocce courts, and private event spaces accommodating up to 1,500 guests. The venue includes a 100-seat bistro with seasonal menu items, handcrafted cocktails, and expansive outdoor patios. The location expects to host over 1,000 events in its first year and will create approximately 150 new jobs.
Pinstripes Holdings, Inc. (NYSE: PNST) reported its fiscal 2025 first quarter results, showing 18.9% revenue growth to $30.6 million year-over-year. However, the company faced challenges with a net loss of $10.0 million compared to $3.0 million in the prior year period. Same-store sales decreased by 2.4%, and operating loss widened to $7.6 million.
Despite these challenges, Pinstripes is implementing cost-saving measures, including $10 million in annualized venue-level cost reductions and an additional $4 million in SG&A savings. The company maintains 17 open venues with 5 more in development. Pinstripes also secured $5 million in additional funding from existing lenders and upsized its future loan potential.
Pinstripes Holdings, Inc. (NYSE: PNST) has announced it will release its fiscal first quarter 2025 financial results on Wednesday, September 4, 2024, after the market close. The company will host a conference call to discuss the results at 5:00 PM Eastern Time on the same day. The call will be led by Dale Schwartz, President and CEO, and Tony Querciagrossa, CFO.
Investors can access the call by dialing 201-389-0920. A replay will be available until September 18, 2024, by dialing 412-317-6671 with passcode 13748427. The call will also be webcast live on the company's website at pinstripes.com under the investors section, with an archive available shortly after.
Pinstripes Holdings (NYSE: PNST), an experiential dining and entertainment brand, has released its fiscal Q4 and FY2024 results. For Q4, revenue rose 5.9% to $36.2M, while food and beverage revenue increased by 4.9% to $27.6M. Recreation revenue grew 9.5% to $8.6M. The company reported a net loss of $8.7M, similar to the prior year. FY2024 highlights include a 6.7% revenue increase to $118.7M and net loss improvement to $6.8M from $7.5M.
However, venue-level EBITDA decreased by $1.3M to $13.1M. Fiscal 2025 guidance projects cost savings of $10M and an adjusted EBITDA of $19-21M. The company plans to open four new venues in 2025. Notably, Pinstripes aims to enhance mature store margins by 500 basis points through cost-saving measures.
Pinstripes Holdings (NYSE: PNST) will announce its fiscal fourth quarter and fiscal year 2024 financial results on June 27, 2024. A press release with the financial results will be issued after the market closes on the same day. Following the release, a conference call will be held at 5:00 PM Eastern Time, hosted by CEO Dale Schwartz and CFO Tony Querciagrossa. Investors can access the live call by dialing 201-389-0920 or listen to the webcast on the company's corporate website. A replay of the call will be available until July 11, 2024, by dialing 412-317-6671 with passcode 13746229.
Pinstripes Holdings (NYSE: PNST) announced its participation in two investor conferences in June 2024. The company will present at the William Blair 44th Annual Growth Stock Conference in Chicago, IL, on June 4 at 4:00 PM CT. The presentation will be webcast live on their corporate website under the 'Investors' tab. Pinstripes will also present at the Virtual Oppenheimer 24th Annual Consumer Growth and E-Commerce Conference on June 10.
Pinstripes Holdings, Inc. announced a strategic real estate partnership with Newmark to accelerate its expansion efforts. The company is focusing on its rollout strategy in the U.S. with a blend of dining and entertainment experiences. With seventeen venues currently open, two more opening soon, and four additional sites planned for 2024/2025, Pinstripes aims to reach at least 150 locations nationwide.
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