Tag: Consumer

Research – FAT Brands Inc. Announces Fourth Quarter Cash Dividend On Class A Common Stock And Class B Common Stock

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

10/05/2023

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LOS ANGELES, Oct. 05, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Twin Peaks, Fazoli’s, Smokey Bones and 11 other restaurant concepts, announced today that its Board of Directors has declared the Company’s fiscal 2023 fourth quarter cash dividend of $0.14 per share on each outstanding share of Class A common stock and Class B common stock. The dividend is payable on December 1, 2023 to holders of record of Class A common stock and Class B common stock as of the close of business on November 15, 2023.

The declaration and payment of future dividends, as well as the amounts thereof, are subject to the discretion of the Company’s Board of Directors. The amount and size of any future dividends will depend upon the Company’s future results of operations, financial condition, capital levels, cash requirements and other factors. There can be no assurance that the Company will declare and pay dividends in future periods.

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands Inc. (NASDAQ: FAT) (the Company) is a leading global franchising company that strategically acquires, markets and develops quick service, fast casual and casual dining restaurant concepts around the world. The Company currently owns eighteen restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Smokey Bones, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean, Ponderosa and Bonanza Steakhouses and franchises and owns over 2,300 units worldwide. For more information, please visit www.fatbrands.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these risks, uncertainties and contingencies. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

Investor Relations:
ICR
Michelle Michalski
IR-FATBrands@icrinc.com
646-277-1224

Media Relations:
FAT Brands Inc.
Erin Mandzik
emandzik@fatbrands.com
860 -212 -6509

###

Source: FAT Brands Inc.

Release – Great American Cookies And Marble Slab Creamery Open At Cook Children’s Medical Center In Fort Worth

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

10/02/2023

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Dessert Duo’s New Co-Branded Location Marks FAT Brands ’ Continued Expansion into Non-Traditional Venues

LOS ANGELES, Oct. 02, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Great American Cookies, Marble Slab Creamery and 16 other restaurant concepts, announces the opening of a co-branded Great American Cookies and Marble Slab Creamery location at Cook Children’s Medical Center in Fort Worth, Texas. Situated in the first floor of the newly expanded Dodson Specialty Clinics, the new store underscores FAT Brands’ strategic approach to broadening its footprint in non-traditional spaces.

“The opening of our co-branded Great American Cookies and Marble Slab Creamery location at Cook Children’s reinforces FAT Brands’ commitment to executing a diverse growth strategy that brings our 18 restaurant brands to a wider audience,” said Taylor Wiederhorn, Chief Development Officer at FAT Brands. “With this new opening, FAT Brands continues to demonstrate adaptability and a forward-thinking approach in the ever-evolving franchise landscape.”

For nearly 40 years, Marble Slab Creamery has been an innovator in the ice cream space, dreaming up the frozen slab technique and offering homemade, small-batch ice cream with free unlimited mix-ins, shakes in a variety of flavors, and ice cream cakes.

Since 1977, Great American Cookies has baked up a reputation for not only being the creator of the Original Cookie Cake, but also for its famous chocolate chip cookie recipe. Other craveable menu items include decadent Double Doozies™, made with delectable icing sandwiched between two cookies.

Great American Cookies and Marble Slab Creamery at Cook Children’s Medical Center is located in the Dodson Specialty Clinics, which is found at 1500 Cooper St., Fort Worth, TX 76104. The store will be open from 8 a.m. to 5 p.m. Monday through Friday to hospital guests, staff and patients. For more information on Great American Cookies, visit www.greatamericancookies.com. For more information on Marble Slab Creamery, visit www.marbleslab.com.

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Smokey Bones, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

About Great American Cookie s

Founded on a family chocolate chip cookie recipe in 1977, Great American Cookies believes that pure, simple delight is part of living a full life. Serving the Original Cookie Cake, fresh baked cookies in a variety of flavors, brownies, and Double Doozies™, we promise to treat you to bites of bliss that prove how sweet life can be. With more than 400 bakeries across the country and internationally in Bahrain, Guam, Saudi Arabia, and treats available to ship right to your door, the sweet spot is always close to home. For more information, visit www.greatamericancookies.com.

About Marble Slab Creamery

Since dreaming up the frozen slab technique and serving fresh homemade, small-batch Ice Cream in-store since 1983, Marble Slab Creamery has always known how to dream big. We sprinkle our customers with imagination and promise to inspire with infinite Ice Cream possibilities to feed your curiosity and capture cravings. With our always free mix-in philosophy, delicious Ice Cream and Shakes in a variety of flavors, hand-rolled waffle cones, and Ice Cream Cakes, imagination has no limits. Today, Marble Slab Creamery is enjoyed by consumers across the globe with locations in Bahrain, Canada, Kuwait, Saudi Arabia, Guam, Puerto Rico, and the United States. For more information, visit www.marbleslab.com.

About Cook Children’s Medical Center

Cook Children’s is more than a health care system: we strive to be an extension of your family, growing with your child from their first steps to adulthood. By collaborating to deliver on our Promise—to improve the well-being of every child in our care and our communities, we connect the dots for our patients. Between primary and specialty. Between home and medical home. Between short-term care and long-term health.

Based in Fort Worth, Texas, we’re 8,000+ dedicated team members strong, passionately caring for over 1.5 million patient encounters each year. Our integrated, not-for-profit organization spans two medical centers (including our new, state-of-the-art location in Prosper), two surgery centers, a physician network, home health services and a health plan. It also includes Child Study Center at Cook Children’s, Cook Children’s Health Services Inc., and Cook Children’s Health Foundation.

And our impact extends beyond the borders of Texas. We proudly treat children from virtually every state in the nation and 32 countries. By seeing the world through the eyes of children and their families from all backgrounds, we’re able to shape health care suited to them: connected by kindness, imagination and respect—with an extra dose of magical wonder.

Discover more at cookchildrens.org.

MEDIA CONTACT:
Ali Lloyd, FAT Brands
alloyd@fatbrands.com
435-760-6168

Kim Brown, APR, Cook Children’s
Kim.brown3@cookchildrens.org
817-266-3728

Source: FAT Brands Inc.

Commercial Vehicle Group, Inc. (CVGI) – Updating Third Quarter Estimates

Posted on by cpereira@noblefcm.com


Monday, October 02, 2023

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Management Call. We recently had an opportunity to chat with Commercial Vehicle Group management. While major trends continue, there has been some reduced overall industry expectations in truck builds. While management did not comment on any impact on Commercial Vehicle, to be on the conservative side we are modestly lowering our expectations for the quarter. This does not change our longer term outlook for the Company.

Heavy Duty Trucks. Between mid-August and mid-September, industry specialist ACT Research slightly lowered their forecast for Class 8 trucks for the quarter, lowering the forecast by nearly 5,000 to 84,779 units. We would note, however, the full year 2023 and 2024 forecasts remain very positive.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Bassett Furniture (BSET) – Reports Fiscal Third Quarter

Posted on by cpereira@noblefcm.com


Monday, October 02, 2023

Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations. As of September 16, 2017, the company operated a network of 91 company-and licensee-owned stores. It also provides shipping, delivery, and warehousing services to customers in the furniture industry. In addition, the company owns and leases retail store properties. It also distributes its products through other multi-line furniture stores, Bassett galleries or design centers, specialty stores, and mass merchants. Bassett Furniture Industries was founded in 1902 and is based in Bassett, Virginia.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

3Q23 Results. Bassett reported 3Q23 results in-line with the September 6th lowered expectations. Revenue was $87.2 million, down 26.1% year-over-year. Wholesale revenue declined 28.2% while Retail revenue declined 26.2%. Operating loss was $3.8 million compared to adjusted operating income of $6.1 million last year. Basset reported a net loss of $2.6 million, or $0.30 per share better than we had anticipated as SG&A expenses were reduced.

Uncertain Environment. The operating environment remains uncertain. While traffic and business increases around holiday events, day-to-day store traffic and wholesale order writing between the big events remain very challenging. We do not expect this situation to change until the consumer feels more confident about future prospects for the economy.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – FAT Brands Announces Two Additional Board Members

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

09/28/2023

LOS ANGELES, Sept. 28, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc . announces the appointment of two new Directors to its Board, James G. Ellis and John M. Allen. With the additions, the Board size will increase from 12 to 14. Mr. Ellis and Mr. Allen will serve as independent directors, with Mr. Ellis also joining the Audit Committee of the Board.

Mr. Ellis served as the Dean of the Marshall School of Business at the University of Southern California from 2007 until June 2019. Prior to his appointment as Dean in April 2007, Mr. Ellis was the Vice Provost, Globalization, for USC and prior to that was Vice Dean, External Relations. Mr. Ellis was also a professor in the Marketing Department of the Marshall School of Business from 1997 until his retirement in 2021. Mr. Ellis continues to serve on the boards of directors of a number of other public and private companies. Mr. Ellis received a Bachelor of Business Administration degree from the University of New Mexico and an MBA from Harvard Business School.

Mr. Allen is a retired restaurant operator, having served as the founder, owner and operator of Pacific Way Bakery & Café. Mr. Allen received a Bachelor of Arts degree from the University of Illinois.

“Jim and John bring valuable insight and are both deeply respected in their communities,” said Andy Wiederhorn, Chairman of FAT Brands. “We are grateful to have them on the team and look forward to leveraging their insights to continue growth for our franchisees and returns for our shareholders.”

For more information on FAT Brands, visit www.fatbrands.com.

About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Smokey Bones, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit fatbrands.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the Company’s expectations concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies. These risks, uncertainties and contingencies are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that the Company files from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

MEDIA CONTACT:
Ali Lloyd, FAT Brands
alloyd@fatbrands.com
435-760-6168

Source: FAT Brands Inc.

Instacart Founder Exits With $1.1 Billion Fortune After IPO

Posted on by slightbourne@noblecapitalmarkets.com

Apoorva Mehta’s path to becoming a billionaire was paved with determination and grit. The 37-year-old founder of grocery delivery app Instacart debuted his company on the public market this week, earning a personal net worth of $1.1 billion.

Mehta’s road to success was not straightforward. After quitting his job as a supply chain engineer at Amazon in 2010, Mehta attempted to launch over 20 startups in San Francisco, all of which failed. “I wanted to become an entrepreneur. I didn’t know what my idea was going to be,” Mehta told CNBC.

Undeterred by his string of failures, Mehta found inspiration from his own empty refrigerator and launched Instacart in 2012 to disrupt the grocery delivery industry. Instacart struggled at first, with Mehta even missing Y Combinator’s application deadline. But he managed to impress the famed accelerator’s partners by personally delivering beer to their office using his new app. With Y Combinator’s backing and $2.3 million in early funding, Instacart began spreading beyond San Francisco.

In just over a decade, Mehta has grown Instacart into a grocery delivery behemoth operating in over 14,000 cities across North America. The company has facilitated the delivery of over 900 million grocery orders and 20 billion items since its founding. Instacart now delivers groceries from over 80,000 stores, including major chains like Kroger, Costco, and Wegmans.

With Instacart’s successful IPO and $8.8 billion valuation, Mehta is transitioning from his role as executive chairman. His 11-year journey founding and leading Instacart has earned him billionaire status, proving that persistence and vision can turn startup failures into phenomenal success.

Mehta’s determination to solve a personal need despite multiple failed attempts speaks to his perseverance and self-belief. “Being an entrepreneur is about solving problems,” Mehta told Forbes India. “If you are solving problems, you are doing something meaningful.”

This tireless problem-solving ethic kept Mehta persevering through over 20 doomed startups before finding his billion-dollar idea. “I wanted to build something that really moved the needle,” Mehta told Entrepreneur. “Part of the reason I kept trying was because I wasn’t succeeding.”

Now valued at nearly $9 billion, Instacart succeeded in moving the needle for online grocery delivery in a massive way. “I’m most excited about the impact we can have on the grocery industry,” Mehta told Forbes of his goals looking forward.

As Mehta departs his executive chairman role, his grocery delivery empire promises to change how people access fresh food for years to come. Under new CEO Fidji Simo, formally of Facebook, Instacart is poised for continued innovation and growth.

Mehta’s journey underscores how entrepreneurs should not measure success purely in financial terms. “It’s about solving problems, inventing things and making an impact – not for the sake of making money but because it’s a challenge,” Mehta told Entrepreneur India. For him, impact and problem solving are the true markers of success.

After over 20 failures, Mehta never gave up on his goal of building something meaningful. His unflagging determination and vision turned a simple grocery delivery app into a multibillion-dollar public company. Mehta’s inspiring rise from failed startups to billionaire success shows how persistence and grit can overcome early stumbles to eventually change an entire industry.

FAT Brands Inc. (FAT) – Management Discussions on Smokey Bones Acquisition

Posted on by cpereira@noblefcm.com


Thursday, September 28, 2023

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Management Conversation. We had an opportunity to speak with FAT Brands Chairman of the Board Andy Wiederhorn regarding the Smokey Bones acquisition. As we highlighted in our Tuesday report, the acquisition adds 61 corporate owned locations and adds the barbeque vertical to Fat Brands portfolio. But, we believe the acquisition will add even more.

A Better Price. FAT Brands had been eyeing Smokey Bones for a while and, in fact, had almost closed the deal over a year ago, but at a much higher price than the $30 million deal. Based on a $10 million annual adjusted EBITDA run rate, the chain was acquired at 3x, which will help lower FAT Brands’ overall leverage ratio by nearly a turn. According to Mr. Wiederhorn, annual revenue is in the $170-$180 million range.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – FAT Brands Announces Acquisition Of Smokey Bones Barbecue Chain

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

09/25/2023

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Global Franchisor Doubles Down on Polished Dining Segment

LOS ANGELES, Sept. 25, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) today announces it has acquired the Smokey Bones Bar & Fire Grill restaurant chain from an affiliate of Sun Capital Partners, Inc. The acquisition marks the Company’s first foray into barbecue and expands FAT Brands’ portfolio of polished dining chains, which currently includes Twin Peaks. The purchase is expected to increase annual adjusted EBITDA by approximately $10 million, and bring 61 new corporate locations under FAT Brands’ umbrella. The $30 million transaction was funded from the Company’s existing securitization facilities.

“We continue to be selective and opportunistic in our acquisition strategy, targeting brands that are both scalable and synergistic with our existing platform,” said Rob Rosen, Co-CEO of FAT Brands. “We are pleased to add another polished dining brand, which will provide more options for our sales team to offer our franchise partners to further their new unit development.”

“As we have spent the year focusing on digesting past acquisitions, we’ve also been amplifying the explosive growth in our polished dining vertical,” said Andy Wiederhorn, Chairman and Founder of FAT Brands. “Having a strong player in the barbecue space provides another arrow in our quiver for the polished dining segment and opens the door for additional growth strategies for our sister brands. We look forward to generating impressive results, similar to our Johnny Rockets integration, which we also acquired from an affiliate of Sun Capital Partners.”

“We are excited to become a part of the FAT Brands family and benefit from their purchasing power and scale,” said Hal Lawlor, President of Smokey Bones. “Additionally, we see great opportunity in being a part of a leading global franchising company to further our growth with new franchised locations.”

Kroll Investment Banking acted as exclusive sell-side M&A advisor to Smokey Bones and Sun Capital Partners on the transaction.

For more information, visit www.fatbrands.com.

About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns approximately 2,300 units worldwide. For more information, please visit www.fatbrands.com.

About Smokey Bones
The Masters of Meat. Smokey Bones Bar & Fire Grill is a full-service restaurant chain delivering great barbecue, award-winning ribs, perfectly seared steaks and memorable moments in 61 locations across 16 states. Smokey Bones serves lunch, dinner, and late night, and has a full bar featuring a variety of bourbons and whiskeys, a selection of domestic, import and local craft beers, and several signature handcrafted cocktails. Smokey Bones offers a variety of meats that are slow-smoked, fire-grilled, and available for dine-in, pick-up, online ordering, catering, and delivery. Smokey Bones offers a 10 percent discount to active duty and veterans with ID. For additional information and a list of locations nationwide, please visit www.SmokeyBones.com. Smokey Bones, Meat is What We Do!

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the Company’s future financial performance and growth following the acquisition of Smokey Bones, including expectations of changes in the Company’s adjusted EBITDA, and the Company’s ability to conduct future accretive and successful acquisitions. Forward-looking statements reflect the Company’s expectations concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies including, but not limited to, the Company’s ability to successfully integrate and exploit the synergies of the acquisition of Smokey Bones, and the Company’s ability to grow and expand sales and earnings following the acquisition. These risks, uncertainties and contingencies are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that the Company files from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

About Non-GAAP Projected Financial Measures
This press release includes projections of changes in future EBITDA, a financial measure that is not prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). EBITDA is defined as net income (loss), before interest expense, income tax expense (benefit), depreciation and amortization expense. EBITDA is not a measurement of the Company’s financial performance under GAAP, and should not be considered in isolation or as an alternative to net income (loss) as a measure of financial performance, cash flows from operating activities as a measure of liquidity, or any other performance measure derived in accordance with GAAP. The Company believes that EBITDA is an important supplemental measure of its operating performance because it eliminates the impact of expenses that do not relate to business performance. The Company also believes that this non-GAAP measure is useful to investors because it and similar measures are frequently used by securities analysts, investors and other interested parties to evaluate companies in our industry and provide additional information regarding growth rates on a more comparable basis than would be provided without such adjustments.

The Company prepared the information included in this press release based upon available information and assumptions and estimates that it believes are reasonable. The Company cannot assure you that its estimates and assumptions will prove to be accurate. Additionally, to the extent that forward-looking non-GAAP financial measures are provided, they are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP financial measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation.

Investor Relations:
ICR
Michelle Michalski
ir-fatbrands@icrinc.com
646-277-1224

Media Relations:
Ali Lloyd
alloyd@fatbrands.com
435-760-6168

Source: FAT Brands Inc.

FAT Brands Inc. (FAT) – Expanding Into BBQ

Posted on by cpereira@noblefcm.com


Tuesday, September 26, 2023

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Adding Smokey Bones. Last night, FAT Brands announced the acquisition of the Smokey Bones Bar & Fire Grill chain for $30 million from Sun Capital Partners. Smokey Bones not only expands FAT Brands into the BBQ space, but also amplifies the Company’s polished dining vertical, in our view.

Smokey Bones. Smokey Bones operates 61 award winning locations across 16 states. With a focus on BBQ, Smokey Bones is a casual dining restaurant with a sports bar scene. Smokey Bones serves lunch, dinner, and late night, and has a full bar featuring a variety of bourbons and whiskeys, a selection of domestic, import, and local craft beers, and several signature handcrafted cocktails.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Lifeway Foods (LWAY) – Stock Price Momentum Continues, Moving to Market Perform

Posted on by cpereira@noblefcm.com


Monday, September 25, 2023

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Price Momentum. LWAY shares continue their rise, closing last Friday at $12.42, above our recently raised $12 price target. LWAY shares are up 97% since closing at $6.30 the Friday before the August 14th 2Q23 earnings release and are up nearly 124% YTD. Notably, volume continues to show strong momentum, with the ADV since August 14 at 136,522 shares, compared to a 90 day ADV of 15,430 shares just prior to the August 14th earnings release.

Rationale. With the sharp price rise, LWAY shares are likely to enter a consolidation phase, in our view. Further significant price appreciation leans towards operating results exceeding expectations and/or a potential acquisition of the Company, in our view. With insiders controlling nearly 50% of the outstanding shares, we do not believe a sale of the Company is in the cards. 


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Great American Cookies And Marble Slab Creamery Announce March Of Dimes Partnership Spotlighting NICU Awareness Month

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

09/21/2023

Milestones Matter! Cookie and Ice Cream Franchises Announce Partnership to Support Mom and Baby Nonprofit

LOS ANGELES, Sept. 21, 2023 (GLOBE NEWSWIRE) — Great American Cookies, the Original Cookie Cake franchise, and Marble Slab Creamery, the imaginative small-batch ice cream brand, proudly announce their partnership with March of Dimes, the leading nonprofit fighting for the health of moms and babies. Tapping into the brands’ synergies of celebrating family milestones, the three organizations will join forces to honor Neonatal Intensive Care Unit (NICU) patients, their families, and the healthcare professionals caring for them.

To celebrate heroic NICU employees on Sept. 28, NICU Staff Appreciation Day, Great American Cookies and Marble Slab Creamery will provide a sweet surprise to select NICU teams around the country by delivering Original Cookie Cakes and Ice Cream Cakes. In honor of NICU Awareness Day on Sept. 30, Great American Cookies and Marble Slab Creamery will donate $1 to March of Dimes for every purchase made in-store or online. Additionally, customers who order Cookie Cakes or Ice Cream Cakes online on Sept. 30 (and pick up no later than Oct. 7) receive $3 off their Cookie Cake or IceCream Cake with code.

Many babies will spend their earliest days in the NICU due to preterm birth, birth defects, surgical or genetic conditions, or other diagnosis. This time can be stressful and overwhelming for families. The funds raised will help further March of Dimes’ critical support for families through programs like the NICU Family Support® program, which offers family education, staff training on family-centered care and an improved patient experience.

“With 1 in 10 babies born preterm each year, many of whom will spend time in the NICU, we appreciate the remarkable impact NICU staff have on families,” said Jenn Johnston, Chief Marketing Officer at FAT Brands, Inc. “At Marble Slab Creamery and Great American Cookies, we love sharing milestone moments with families, whether it’s a birthday or first steps – every milestone is worth celebrating. We have the perfect Cookie Cakes and Ice Cream Cakes to do just that! We are proud to raise funds to further the March of Dimes mission to improve the health of all moms and babies.”

“For more than 20 years, March of Dimes has been there for families with a baby in the NICU and as they transition home, offering the support and education they need, right when they need it,” said Kelly Ernst, March of Dimes Senior Vice President, Chief Revenue and Impact Officer. “This NICU Awareness Month, we are inspired by Great American Cookies and Marble Slab Creamery’s commitment to celebrate the dedicated staff that work so hard to take care of thousands of families each year with support from our hospital partners across the country as part of their exciting Milestones Matter initiative.”

For nearly 40 years, Marble Slab Creamery has been an innovator in the ice cream space, dreaming up the frozen slab technique and offering homemade, small-batch ice cream with free unlimited mix-ins, shakes in a variety of flavors, and ice cream cakes.

Since 1977, Great American Cookies has baked up a reputation for not only being the creator of the Original Cookie Cake, but also for its famous chocolate chip cookie recipe. Other craveable menu items include brownies and Double Doozies™, made with delectable icing sandwiched between two cookies.

To donate directly to the cause, please visit the brands’ Milestones Matter website. For more information on Great American Cookies, visit www.greatamericancookies.com. For more information on Marble Slab Creamery, visit www.marbleslab.com. The brands are thankful to partners Southern Champion Tray and Specialty Box & PACKING CO. for enabling this partnership and donation.

About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

About Great American Cookies
Founded on a family chocolate chip cookie recipe in 1977, Great American Cookies believes that pure, simple delight is part of living a full life. Serving the Original Cookie Cake, fresh baked cookies in a variety of flavors, brownies, and Double Doozies™, we promise to treat you to bites of bliss that prove how sweet life can be. With more than 400 bakeries across the country and internationally in Bahrain, Guam, Saudi Arabia, and treats available to ship right to your door, the sweet spot is always close to home. For more information, visit www.greatamericancookies.com.

About Marble Slab Creamery
Since dreaming up the frozen slab technique and serving fresh homemade, small-batch Ice Cream in-store since 1983, Marble Slab Creamery has always known how to dream big. We sprinkle our customers with imagination and promise to inspire with infinite Ice Cream possibilities to feed your curiosity and capture cravings. With our always free mix-in philosophy, delicious Ice Cream and Shakes in a variety of flavors, hand-rolled waffle cones, and Ice Cream Cakes, imagination has no limits. Today, Marble Slab Creamery is enjoyed by consumers across the globe with locations in Bahrain, Canada, Kuwait, Saudi Arabia, Guam, Puerto Rico, and the United States. For more information, visit www.marbleslab.com.

About March of Dimes
March of Dimes leads the fight for the health of all moms and babies. We support research, lead programs, and provide education and advocacy so that every family can have the best possible start. Building on a successful 85-year legacy, we support every pregnant person and every family. To learn more about March of Dimes, please visit marchofdimes.org.

MEDIA CONTACT:
Ali Lloyd, FAT Brands
alloyd@fatbrands.com
435-760-6168

Source: FAT Brands Inc.

QuantaSing Group Limited (QSG) – A Favorable Course For Revenue and Cash Flow Growth

Posted on by cpereira@noblefcm.com


Thursday, September 21, 2023

QuantaSing is a leading online service provider in China dedicated to improving people’s quality of life and well-being by providing lifelong personal learning and development opportunities. The Company is the largest service provider in China’s online adult learning market and China’s adult personal interest learning market in terms of revenue, according to a report by Frost & Sullivan based on data from 2022. By leveraging its proprietary tools and technology, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners under a variety of brands, including QiNiu, JiangZhen and QianChi, empowering users to pursue personal development. Leveraging its extensive experience in individual online learning services, the Company has also expanded its services to corporate clients including, among others, marketing services and enterprise talent management services.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Initiating coverage with an Outperform rating and a $10 price target. QuantaSing is the largest online individual learning service provider in China, by revenue. It launched in 2019 with a focus on adult financial literacy courses, before expanding to personal interest courses. Additionally, the company operates an e-commerce platform focused on liquor, which could expand product offerings in the future. Our favorable rating is based on the company’s positive cash flow growth outlook.

Scalable business model. The company acquires customers at a low cost by offering free introductory courses advertised through online sources, providing a large audience to which it can sell its premium courses, Currently, the company has over 94 million total registered users on its free course offerings. Notably, the company can quickly develop new courses tailored to customer needs, which provides flexible monetization opportunities. 


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Release – Fazoli’s Opens Second Little Rock Location

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

09/20/2023

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Hot and Fresh Breadsticks Now Cooking on the West Side

LOS ANGELES, Sept. 20, 2023 (GLOBE NEWSWIRE) — Fazoli’s, America’s favorite fast and fresh Italian chain, has opened its second location in Little Rock. Located at 11410 W. Markham St., the location is now serving up its beloved hot and buttery breadsticks and signature Italian dishes including pasta, subs, salads and pizzas. 

“We have loved serving the Little Rock community and look forward to making our fast and fresh Italian offerings more convenient to the west side of town,” said Doug Bostick, President at Fazoli’s. “Our second location in Little Rock is just the beginning of our commitment to growth in Arkansas, so stay tuned for more updates.” 

Since 1988, Fazoli’s has been committed to serving quality Italian food, fast, fresh, and friendly. From unlimited signature breadsticks to freshly prepared pasta entrees, the chain prides itself on serving high-quality menu offerings, all at an affordable price. 

The Little Rock Fazoli’s is located at 11410 W. Markham St. Little Rock, AR 72212. Drive-thru and dine-in are open 10:30 a.m. to 10 p.m., seven days a week. 

For more information, visit Fazolis.com. 

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit fatbrands.com. 

About Fazoli’s

Fast. Fresh. Italian. Founded in 1988 in Lexington, Ky., Fazoli’s owns and operates nearly 220 restaurants in 27 states, making it the largest QSR Italian chain in America. Fazoli’s prides itself on serving quality Italian food, fast, fresh and friendly. Menu offerings include freshly prepared pasta entrees, sub sandwiches, salads, pizza and desserts – along with its unlimited signature breadsticks. For more information, visit www.Fazolis.com.

MEDIA CONTACT:
Ali Lloyd, FAT Brands
alloyd@fatbrands.com
435-760-6168