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FAT Brands (FAT) – Reports Fourth Quarter Results

Posted on March 11, 2024March 11, 2024 by cpereira@noblefcm.com

Monday, March 11, 2024

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.

4Q23 Results. FAT Brands reported 4Q23 revenue of $158.6 million, up 52.8% y-o-y, driven by the Smokey Bones acquisition. System-wide sales growth was 16.5%. FAT reported adjusted EBITDA of $27 million in the quarter, compared to $19.6 million in 4Q23. Net loss for the quarter was $26.2 million, or $1.68/sh, compared to a net loss of $70.8 million, or $4.39/sh last year. Adjusted net loss for the quarter was $17.3 million, or $1.15/sh, compared to a net loss of $43 million, or a loss of $2.70/sh, last year. We had projected revenue of $150 million and a net loss of $25.9 million, or a loss of $1.55/sh.

New Locations. During the quarter, FAT Brands saw 29 store openings, bringing the full year count to 125 locations, somewhat below the original expectation of 150 new locations. Management expects another 125+ new openings in 2024. The current 1,100 store pipeline will add some $60 million of adjusted EBITDA once built out.

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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 – Marble Slab Creamery Strengthens Foothold in Canada with 40-Unit Development Deal

Posted on February 12, 2024February 12, 2024 by aweinsoff@channelchek.com

Research News and Market Data on FAT

02/12/2024

Leading Ice Cream Chain to Grow Presence in Country to 140 Units

LOS ANGELES, Feb. 12, 2024 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Marble Slab Creamery and 17 other restaurant concepts, announces a new development deal set to open 40 new Marble Slab Creamery franchised locations throughout Canada in partnership with Canadian Ice Cream Company Inc. The Marble Slab Creamery locations are set to open over the next 10 years, with the first of the new locations slated to open by the end of 2024. The development deal will bolster the brand’s presence from approximately 100 stores that are operating today in the country to 140 units.

“We are very pleased with the continued market growth in Canada with our experienced master franchise partner, Canadian Ice Cream Company Inc.,” said Taylor Wiederhorn, Chief Development Officer of FAT Brands. “Since entering the country nearly 20 years ago, Marble Slab Creamery has made a name for itself. Our homemade ice cream and unlimited mix-in philosophy resonate with fans and our franchisees as we continue to expand the concept across Canada and the world.”

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.

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, Smokey Bones, 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 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 free unlimited 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, Bangladesh, Canada, Kuwait, Pakistan, Saudi Arabia, Guam, Puerto Rico, and the United States. For more information, visit www.marbleslab.com.

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 timing and performance of new store openings and area development agreements. Forward-looking statements reflect expectations of FAT Brands Inc. (“we” or “our”) concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies. These factors 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 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 and other factors. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

MEDIA C ONTACT :
Erin Mandzik, FAT Brands
emandzik@fatbrands.com
860-212-6509

Source: FAT Brands Inc.

Release – FAT Brands Foundation Awards Over $250,000 to Local Non-Profits in 2023

Posted on January 29, 2024January 29, 2024 by aweinsoff@channelchek.com

Research News and Market Data on FAT

01/29/2024

First Year of Giving Supports 43 Organizations Across FAT Brands’ Communities

LOS ANGELES, Jan. 29, 2024 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., a leading global franchising company that owns restaurant brands including Johnny Rockets, Fatburger, Round Table Pizza, Twin Peaks, Fazoli’s, and 13 other concepts, is pleased to announce the impact FAT Brands Foundation had in its local communities during its first year of giving. In 2023, over $250,000 was awarded to 43 local non-profits across 19 states and Washington D.C.

The foundation’s impact was widespread, standing behind causes such as food insecurity, health, education, youth development, the arts, and more. Notably, the foundation supported the critical work of non-profits in FAT Brands’ communities, including organizations tied to the fires in Maui, Hawaii, and the tragedy in Allen, Texas.

“We are proud of not only getting the foundation off the ground in 2023, but also doubling down on our commitment to serve by providing funding and physical volunteers for boots-on-the-ground work in various FAT Brands’ communities,” said Jessica Wiederhorn, President of FAT Brands Foundation. “This year was just the beginning and we have built a strong framework – supporting the unique and important work of 43 organizations. We look forward to bringing to life even more opportunities – through funding and volunteer work – in the coming years.”

Looking to 2024, the foundation is committed to continuing its work supporting local non-profits that provide essential programs to help communities and families thrive. For organizations interested in applying for a grant, for those interested in donating to the foundation or to view the 2023 FAT Brands Foundation Impact Report, please visit www.fatbrands.com/foundation.

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

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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 and polished casual dining restaurant 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, Smokey Bones, 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 FAT Brands Foundation

Founded in 2022, the FAT Brands Foundation was created to uplift and unite the communities in which FAT Brands operates. While the company’s 18-brand portfolio is deeply rooted in charitable initiatives both locally and nationally, FAT Brands, as an organization, is seeking to magnify those efforts further. The 501(c)(3) organization is aimed at partnering with local non-profit organizations to provide essential programs to help families and communities thrive.

MEDIA C ONTACT :
Erin Mandzik, FAT Brands
emandzik@fatbrands.com
860-212-6509

Source: FAT Brands Inc.

FAT Brands (FAT) – Another Year of Store Growth

Posted on January 24, 2024January 24, 2024 by cpereira@noblefcm.com

Wednesday, January 24, 2024

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.

Growth. FAT Brands continued growth in 2023 of new store openings and development agreements. As we have stated in past reports, new store openings is a “cost free” way of increasing revenue and EBITDA for the Company. The development pipeline could add some $50-$60 million of adjusted EBITDA once deployed.

Numbers. During 2023, a total of 125 new locations were opened, below the full year goal of 150, although the shortfall is just delayed, in our opinion. Notably, several of FAT Brands’ newest stores opened in non-traditional spaces, such as airports, hospitals, and theme parks. The Company added a total of over 200 stores to the unit development pipeline, which now exceeds 1,200 locations. We anticipate approximately 150 new store locations to be opened in 2024.

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

Release – FAT Brands Makes West Coast Debut of Co-Branded Johnny Rockets and Hurricane Wings

Posted on January 12, 2024January 12, 2024 by aweinsoff@channelchek.com

Research News and Market Data on FAT

January 12, 2024

Iconic Burger and Wing Pairing Plants Roots in Los Angeles Area

LOS ANGELES, Jan. 12, 2024 (GLOBE NEWSWIRE) — FAT Brands Inc. announces the grand opening of its inaugural West Coast co-branded Johnny Rockets and Hurricane Wings restaurant. Located at 1129 S. Fremont Avenue, Ste. E, Alhambra, Calif., the new location marks a milestone in the expansion of the co-branded model that brings together Johnny Rockets’ iconic burgers and Hurricane Grill & Wings’ fiery selection of beach-inspired wing flavors.

“Following the resounding success of our first Johnny Rockets and Hurricane Wings co-branded restaurant in Washington D.C., we’re thrilled to introduce this unique concept to the West Coast,” said Jake Berchtold, COO of FAT Brands’ Fast Casual Division. “Similar to Fatburger and Buffalo’s Express, Johnny Rockets and Hurricane Wings have great synergy together—both family-oriented brands with loyal followings. We anticipate a lot of excitement surrounding this opening in the Alhambra community.”

The first Johnny Rockets restaurant opened June 6, 1986, on the iconic Melrose Avenue in Los Angeles. Since that time, the chain’s timeless all-American brand has connected with customers across the U.S. and in 25 other countries around the globe. Guests visiting the all-new location can enjoy a classic Johnny Rockets’ meal, a juicy, cooked-to-order burger paired with crispy fries and a decadent, hand-spun shake.

Patrons looking for some heat can add Hurricane Wings’ classic bone-in and boneless jumbo wings to their meal. From Firecracker and Mango Habanero to Garlic Parm and Teriyaki, there is a wing flavor fit for every wing craving on the heat scale.

A grand opening celebration will be held on Jan. 12 to commemorate the new restaurant, which will kick off with a ribbon cutting with the Alhambra Chamber of Commerce at 11:00 a.m. Additionally, the first 100 hungry fans can score a free single original burger with no purchase necessary. Customers who miss the opening rush can stop by all day for free fries with any purchase.

The Alhambra Johnny Rockets and Hurricane Wings is located at 1129 S. Fremont Avenue, Suite E, Alhambra, CA, and is open from 10:00 a.m. to 10:00 p.m. daily.

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, Smokey Bones, 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 Johnny Rockets
Founded in 1986 on Melrose Avenue in Los Angeles, Johnny Rockets is a world-renowned international franchise that offers high-quality, innovative menu items including Certified Angus Beef^® cooked-to-order hamburgers, veggie burgers, chicken sandwiches, crispy fries, and rich, delicious hand-spun shakes and malts. With over 250 locations in over 25 countries around the globe, this dynamic lifestyle brand offers friendly service and upbeat music contributing to the chain’s signature atmosphere of relaxed, casual fun. For more information, visit www.johnnyrockets.com.

MEDIA CONTACT:
Erin Mandzik, FAT Brands
emandzik@fatbrands.com
860-212-6509

Release – Smokey Bones Announces Partnership with Celebrity Chef Robert Irvine

Posted on October 31, 2023October 31, 2023 by aweinsoff@channelchek.com

Research News and Market Data on FAT

October 31, 2023

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The acclaimed culinary chef and Masters of Meat join forces to support military, veteran, and first responder personnel.

Plantation, Fla., Oct. 31, 2023 (GLOBE NEWSWIRE) — Smokey Bones today announces that world-class culinary personality and philanthropist, Chef Robert Irvine, will join the Masters of Meat to introduce a limited-time menu, Robert’s Ribfeast, starting on October 31, 2023. Fans are asked to bring their appetites to try this delicious new menu, which will benefit the Robert Irvine Foundation, dedicated to transforming the lives of service members, veterans, first responders and their families. Smokey Bones has committed to donate 10 percent of sales from “Robert’s Ribfeast” promotion, up to $100,000.

As a Smokey Bones fan and loyalist, particularly of its award-winning ribs, Chef Irvine is working with the brand to share good food with guests while supporting and showing appreciation for the country’s military and veterans. Robert’s Ribfeast includes:

Robert’s Ribfeast for One ($19.99): A half-rack of Smokey Bones’ signature house-smoked St. Louis ribs, two sides, a piece of garlic bread, and choice of appetizer or dessert.
Ribfeast for Two ($29.99): A full rack of St. Louis ribs, four sides, two pieces of garlic bread, and choice of appetizer or dessert.

“We are honored to partner with Chef Irvine, who shares our appreciation for not only our ribs but also for our active-duty military and veterans,” said Cole Robillard, Chief Marketing Officer at Smokey Bones. “Chef Irvine is a frequent guest at Smokey Bones and a natural fit for our brand as he has made a significant impact on both the restaurant industry and military community. We are excited to not only offer guests a terrific deal on his favorite meal, but to bring our communities together to support this important cause.”

Chef Irvine is an acclaimed chef, entrepreneur, and longtime philanthropic supporter of America’s military. He’s also the host of Food Network’s hit show “Restaurant: Impossible,” where he gives struggling restaurateurs a second chance to turn their lives and businesses around.

“We are thankful for the generosity of Smokey Bones in their efforts to support the Robert Irvine Foundation,” said Chef Irvine. “These funds will go towards our Food, Wellness, Community, and Financial-Support programs which impact thousands of service members, veterans and their families. We look forward to kicking off this partnership with the Masters of Meat in supporting America’s heroes.”

Robert’s Ribfeast will be available at all Smokey Bones locations until January 1, 2024, while supplies last.

Smokey Bones is available for dine-in and online orders for pick-up, as well as delivery on SmokeyBones.com. To make a reservation at your nearest location, visit https://reservations.getwisely.com/location-search/reservations?g=smokey-bones.

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 Smokey Bones

The ‘Masters of Meat,’ Smokey Bones is a full-service restaurant delivering great barbecue, award-winning ribs, crave-worthy cocktails and memorable moments in 61 locations across 16 states. Smokey Bones serves lunch, dinner, and late night every day. Smokey Bones also has a full bar featuring a variety of bourbons and whiskeys; a selection of domestic, import and local craft beers; and signature, handcrafted cocktails. Smokey Bones offers a 10 percent discount to active duty and veterans with ID.

About the Robert Irvine Foundation

The Robert Irvine Foundation was established by chef, entrepreneur and TV personality Robert Irvine. The Robert Irvine Foundation supports and strengthens the physical and mental well-being of our service members, veterans, first responders, and their families. They provide these heroes with life-changing opportunities that unlock the potential in their personal and professional lives through food, wellness, community, and financial support. For more information, please visit: www.robertirvinefoundation.org.

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Media Contact:
Kaitlyn Ianiro
kaitlyn@inklinkmarketing.com
305-631-2283

Source: FAT Brands Inc.

FAT Brands Inc. (FAT) – Reports Third Quarter Results

Posted on October 30, 2023October 30, 2023 by cpereira@noblefcm.com

Monday, October 30, 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.

3Q23 Results. FAT Brands reported 3Q23 revenue of $109.4 million, up 6% y-o-y from $103.2 million in the year ago quarter. System-wide sales growth was 0.8%. FAT reported adjusted EBITDA of $21.9 million in the quarter, compared to $24.6 million in 3Q22 (which included $7.2 million of tax credits). Net loss for the quarter was $26.5 million, or $1.59/sh, compared to a net loss of $25.1 million, or $1.52/sh last year. Adjusted net loss for the quarter was $18.9 million, or $1.14/sh, compared to a net loss of $17.9 million, or a loss of $1.08/sh, last year. We had projected revenue of $107 million and a net loss of $28.4 million, or a loss of $1.71/sh.

Ongoing Development. YTD, FAT has opened 96 restaurants, including 30 in 3Q. The Company expects to see 150 openings 2023. YTD, over 200 new franchise agreements have been signed, bringing the total pipeline to over 1,100 signed agreements. This pipeline will add some $60 million to adjusted EBITDA.

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

RCI Hospitality Holdings (RICK) – Extending Debt to Free Up Cash for Share Repurchases

Posted on October 27, 2023October 27, 2023 by cpereira@noblefcm.com

Friday, October 27, 2023

With more than 60 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country’s leading company in adult nightclubs and sports bars/restaurants. Clubs in New York City, Chicago, Dallas-Fort Worth, Houston, Miami, Minneapolis, Denver, St. Louis, Charlotte, Pittsburgh, Raleigh, Louisville, and other markets operate under brand names such as Rick’s Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars Club, Tootsie’s Cabaret, Scarlett’s Cabaret, Diamond Cabaret, and PT’s Showclub. Sports bars/restaurants operate under the brand name Bombshells Restaurant & Bar.

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.

A Modification. RCI announced the Company modified $15.7 million in debt due October 2024 through extending maturities of the notes to free up more cash to buy back shares. The notes will continue to be unsecured at 12% interest, with $9.1 million due October 1, 2026, interest-only payable monthly, and $6.6 million due November 1, 2027, with monthly payments of interest and principal based on a 10-year amortization.

Buying Up Shares. With the modification in place for the debt, the Company has over $15 million to buy back shares. Using the Company’s closing price on October 26 of $52.70, RCI can purchase up to 297,912 shares. If the Company were to do so, this lowers the Company’s outstanding shares to roughly 9.1 million.

Get the Full Report

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

Release – FAT Brands to Announce Third Quarter 2023 Financial Results On October 26, 2023

Posted on October 23, 2023October 23, 2023 by aweinsoff@channelchek.com

Research News and Market Data on FAT

October 23, 2023

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LOS ANGELES, Oct. 23, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Johnny Rockets, Twin Peaks, Fazoli’s and 13 other restaurant concepts, today announced that the Company will host a conference call to review its third quarter 2023 financial results on Thursday, October 26, 2023 at 4:30 PM ET. A press release with third quarter 2023 financial results will be issued prior to the conference call that day.

The conference call can be accessed live over the phone by dialing 1-844-826-3035 from the U.S. or 1-412-317-5195 internationally. A replay will be available after the call until Thursday, November 16, 2023, and can be accessed by dialing 1-844-512-2921 from the U.S. or 1-412-317-6671 internationally. The passcode is 10183290. Hosting the call will be Andy Wiederhorn, Chairman, and Ken Kuick, Co-Chief Executive Officer and Chief Financial Officer.

The conference call will also be webcast live from the corporate website at www.fatbrands.com, under the “Investors” section. A replay of the webcast will be available through the corporate website shortly after the call has concluded.

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, Smokey Bones, 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.

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

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

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Source: FAT Brands Inc.

Release – Johnny Rockets Opens First Location in Iraq

Posted on October 16, 2023October 16, 2023 by aweinsoff@channelchek.com

Research News and Market Data on FAT

October 16, 2023

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Classic Burger Concept Celebrates Nine International Openings This Year

LOS ANGELES, Oct. 16, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Johnny Rockets and 17 other restaurant concepts, announces nine openings for Johnny Rockets. The most recent new opening, in Baghdad, marks the first Iraqi location, and is operated by Alanwar Alarabiya.

Since February, Johnny Rockets has also opened international locations in the following cities: Fortaleza, Brazil, Cumbica International Airport in Sao Paulo, Brazil, Santiago, Chile, Lima, Peru, Dubai, United Arab Emirates, Abu Dhabi, United Arab Emirates, Talca, Chile, and one ghost kitchen in the United Arab Emirates. Johnny Rockets around the world serve the classic fare that put the brand on the map over 35 years ago, including juicy, made-to-order burgers and hand-spun shakes.

“Johnny Rockets is a timeless concept that we are proud to see succeed across many borders and formats,” said Jake Berchtold, COO of FAT Brands’ Fast Casual Division. “We look forward to continued growth in Iraq, where we see the opportunity to capitalize on an impressive customer base.”

The first Johnny Rockets restaurant opened June 6, 1986, on Melrose Avenue in Los Angeles. Since that time, the chain’s timeless all-American brand has connected with customers across the U.S. and in more than 25 other countries around the globe. The Johnny Rockets team’s passion for delivering fresh, classic American fare is only equaled by their commitment to providing a superb guest experience.

The new Johnny Rockets in Baghdad is located in the Alyarmouk neighborhood at The Four Streets, Allay 616, Ste. 17 Bldg. 105 Baghdad, Iraq and is open 12 p.m. to 12 a.m. seven days a week. The new location’s menu includes halal-friendly cooked-to-order burgers, indulgent, hand-spun real ice cream shakes, crispy fries, chicken options and more.

For more information on Johnny Rockets, visit www.johnnyrockets.com.

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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 and polished casual dining restaurant 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, Smokey Bones, 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 Johnny Rockets
Founded in 1986 on Melrose Avenue in Los Angeles, Johnny Rockets is a world-renowned international franchise that offers high-quality, innovative menu items including Certified Angus Beef^®cooked-to-order hamburgers, veggie burgers, chicken sandwiches, crispy fries, and rich, delicious hand-spun shakes and malts. With over 325 locations in over 25 countries around the globe, this dynamic lifestyle brand offers friendly service and upbeat music contributing to the chain’s signature atmosphere of relaxed, casual fun.
For more information, visit www.johnnyrockets.com.

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

Source: FAT Brands Inc.

Release – Pretzelmaker to Open 25 Units in Canada

Posted on October 11, 2023October 11, 2023 by aweinsoff@channelchek.com

Research News and Market Data on FAT

October 11, 2023

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Original Pretzel Bite Franchise Expands Canadian Footprint

LOS ANGELES, Oct. 11, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Pretzelmaker and 17 other restaurant concepts, announces a development deal to open 25 new franchised locations in Canada in partnership with Canadian Cookie Enterprises, Inc. The Pretzelmaker locations will open throughout the country over the next 10 years.

“Canadian Cookie Enterprises, Inc. has proven to be an integral expansion partner for Pretzelmaker in Canada throughout the past two decades,” said Taylor Wiederhorn, Chief Development Officer of FAT Brands. “Building on their existing footprint of 52 Canadian units, we are pleased to finalize a new development agreement to build 25 additional locations throughout the country. This growth underscores our dedication to international growth as we continue to scale the Pretzelmaker brand.”

Since getting its start in 1991 as a single pretzel stand, fans have loved snacking on fresh-baked, hand-rolled Pretzel Bites and sipping on fresh-squeezed, all-natural lemonade.

For more information on Pretzelmaker, visit www.pretzelmaker.com.

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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 Pretzelmaker ®
Since its first stand opened in 1991, Pretzelmaker has been the home of Bite-Sized Fun and Full-Sized Flavor. Best known as the innovator of Pretzel Bites, fresh goes into Pretzelmaker’s entire philosophy – from hand-rolled snacks to all-natural lemonade. Whether swinging by to grab a to-go order or having a sit-down meal, Pretzelmaker is where joy gets made. Pretzelmaker has grown into the second-largest soft pretzel concept in the U.S., with over 280 locations worldwide, and continues to innovate with breakfast, late-night and standalone drive-thru concepts. For more information, visit www.pretzelmaker.com .

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 timing and performance of new store openings. Forward-looking statements reflect expectations of FAT Brands Inc. (“we”, “our” or the “Company”) concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies. These factors 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 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 and other factors. We undertake 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.

RCI Hospitality Holdings (RICK) – Preliminary 4Q Revenue Below Expectations

Posted on October 11, 2023October 11, 2023 by cpereira@noblefcm.com

Wednesday, October 11, 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.

4Q23 Club and Restaurant Sales. RCI reported sales for the Nightclubs and Bombshells restaurants of $74.1 million for the fiscal fourth quarter ended September 30th. This is a 5.6% y-o-y increase, driven by acquisitions which was partially offset by a decline in Same Store Sales across both segments. We had projected full revenue for the quarter of $78.3 million and consensus was $78.1 million. Recall the $74.1 million does not include non-core operations, which typically can add some $0.5-$1.0 million to the final quarterly total.

Nightclubs. Revenue rose 7.5%, y-o-y, or $4.2 million, to $60.5 million, with acquisitions adding $9.2 million and reformatted clubs adding $0.8 million. Segment SSS declined 9.6%, an increase over the 7.3% SSS decline in 3Q23. Part of the SSS decline reflects the last “COVID bounce” the Nightclubs experienced in the year ago quarter when y-o-y revenue rose 40.4%.

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

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

Posted on October 5, 2023October 5, 2023 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

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Source: FAT Brands Inc.