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Rave Restaurant Group, Inc. (NASDAQ: RAVE), headquartered in Dallas, Texas, is a prominent name in the pizza industry. The company owns, franchises, and supplies over 275 Pie Five and Pizza Inn restaurants operating both domestically and internationally. Pie Five is a leader in the fast-casual pizza segment, offering individually crafted pizzas with fresh ingredients made to order in under five minutes. Pizza Inn, with its rich history dating back to 1958, is renowned for its traditional and specialty pizzas, fresh salads, pastas, wings, and a variety of desserts.
Rave Restaurant Group operates through three main segments: Pizza Inn and Pie Five Franchising, and company-owned restaurants. The franchising segments oversee establishing franchisees, licensees, and territorial rights, with Pizza Inn contributing significantly to the company’s revenue. Most of the revenue is generated within the United States, yet the company maintains an international presence in the UAE, Kuwait, Oman, Saudi Arabia, Palestine, and Honduras.
Recent developments include the opening of the first Pizza Inn franchise in New Zealand, marking a significant milestone in the brand’s global expansion. The company reported twelve consecutive quarters of profitability and a positive net growth of buffet units. CEO Brandon Solano has emphasized the brand’s enduring appeal and commitment to delivering an exceptional dining experience.
Rave Restaurant Group continues to innovate with updated restaurant designs and new menu offerings. The company reported its 14th consecutive quarter of profitability in Q1 fiscal 2024 and ongoing same-store sales growth. Investments in reimaging existing stores and introducing new prototypes have begun yielding positive returns. Rave also plans to test adding Pizza Inn “ghost kitchens” in select Pie Five locations to leverage brand recognition and drive volume.
The company’s strategic initiatives and financial discipline have positioned it for sustained growth, with a focus on enhancing customer experiences and expanding its market footprint. For more detailed information, visit www.raverg.com and follow their Instagram accounts @pizzainnofficial and @piefivepizza.
Pie Five Pizza has opened its latest location in Danville, Virginia, at 114 Sandy Court. The new restaurant, operated by local entrepreneur Paresh Suthar, offers a drive-thru along with in-store, to-go, and delivery options. Highlights include a limited-time $5 2-topping Parmesan Crunch Stuffed Crust Pizza and various customizable pizza options. This is the only Pie Five in Virginia and the 34th location overall. The restaurant aims to meet the demand of busy customers and provides options suitable for various dietary restrictions.
Pizza Inn has partnered with Lincoln Pare, the second-year running back from Arkansas State, to enhance community engagement. The partnership includes autograph signings at local restaurants and the creation of a discount code 'Lincoln22' for 22% off online orders through January 2022. This initiative aims to strengthen Pizza Inn's presence in college towns. The chain also recently launched its House Pan Pizza and unlimited stuffed crust on the buffet, showcasing its commitment to innovation in its menu offerings.
RAVE Restaurant Group reported strong fourth-quarter results for fiscal 2021, achieving a net income of $926,000, up from $31,000 in the prior year. Total revenue rose by $0.8 million to $2.4 million, with Pizza Inn and Pie Five showing comparable sales increases of 63% and 36%, respectively. Full-year net income improved to $1.5 million, contrasting a net loss of $4.2 million for fiscal 2020. Cash and cash equivalents increased significantly to $8.3 million. The company highlighted its five consecutive quarters of profitability amid challenges from the pandemic.
Pizza Inn has inaugurated a new buffet location in Mountain View, Arkansas, operated by franchisees Eric and Heidi Myers, along with George and Julie Bethell. This marks the chain's 32nd outlet in Arkansas, located conveniently near the town square. The buffet will feature a variety of pizzas, including specialty options like Buffalo Chicken and BBQ Chicken pizzas. Operating hours are from 11 a.m. to 8 p.m. Sunday through Thursday and 11 a.m. to 9 p.m. Friday and Saturday. The brand is recognized for its house-made pizza dough and fresh ingredients.
Pizza Inn, a subsidiary of RAVE Restaurant Group (NASDAQ: RAVE), has launched its new House Pan Pizza, featuring fresh, never frozen dough and 100% real mozzarella cheese. This product, available for delivery, carryout, and at the All You Can Eat Buffet, aims to set a new standard for pan pizza quality with high-quality ingredients. The launch includes promotional offers, such as a large two-topping pizza for $11.99. The House Pan Pizza is crafted daily in-house, offering a distinct flavor profile compared to competitors.
Pizza Inn has signed an international development agreement with Z.I.S. General Trading Company to open three new franchise locations in Palestine, starting with a store in Ramallah/Nablus projected to launch in March 2022. This three-year agreement includes options for additional stores. RAVE Restaurant Group's President expressed enthusiasm for this expansion, highlighting the importance of local operational expertise. Pizza Inn is recognized for its house-made dough and commitment to quality ingredients.
Pizza Inn, under RAVE Restaurant Group (NASDAQ: RAVE), has signed a multi-unit development agreement with franchisees Prakashkumar (Peter) and Sarah Solanki. This agreement includes plans for four new buffet locations in North Carolina, starting with a Lincolnton opening in spring 2022. The Solankis, who have been franchisees since 2019, currently operate a buffet in Vale. The brand emphasizes fresh, house-made pizza dough made daily.
Pizza Inn has partnered with Walid Haider, Chairman of Azalea Investment LLC, to open five new stores in Qatar by March 2022, marking a significant expansion into the Middle East. This agreement allows for potential additional stores, enhancing Pizza Inn's international footprint to 37 locations worldwide. The brand is known for its fresh, house-made pizza dough and quality ingredients, aiming to attract local communities in Qatar.
Pizza Inn has announced a multi-unit development agreement with franchisees Charlie and Jeannie Clark to open four new stores in North Texas, with the first location set to launch in Sherman, Texas, in fall 2021. The Clarks, existing franchisees since 2019, aim to expand the brand's presence in an underserved market. RAVE Restaurant Group's COO expressed pride in partnering with committed franchisees, highlighting Pizza Inn's focus on fresh, house-made products. The company operates over 200 restaurant locations and aims to further enhance community engagement.
Pie Five Pizza has launched the new Parmesan Crunch Stuffed Crust Pizza, available from June 28 to July 11 for just $5 with promo code 'STFDCRNCH'. This unique pizza features house-made dough stuffed with mozzarella and topped with a crunchy layer of house-grated parmesan cheese. The introduction positions Pie Five as the first national fast casual pizza chain to offer personal stuffed crust pizzas. The brand aims to elevate the stuffed crust experience with high-quality ingredients and an innovative culinary approach.
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