Big Pizza Chains Are Coming Back

Bryan Dijkhuizen

Pizza chains are coming back after the pandemic

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Note From The Author

The opinion of the author is his own and has no affiliation with the topic that was included. Sources that are used in this article are the following: Eat This, Not That and for information about individuals, he used Wikipedia.

Introduction

The pandemic caused by the coronavirus drove companies to shut down, which in turn led to labor shortages, intermittent ingredient scarcity, and other problems that are still being experienced almost three years after the outbreak began.

At least one pizza vendor, though, seems to be climbing back up the ladder of success.

Financial Details

On September 23, Rave Restaurant Group, Inc. said that it had earned a net income of $6.8 million for the fourth quarter of 2022.

When compared to the net income of $0.9 million that the firm reported for the same time period in 2021, this figure represents a significant increase.

In addition, Rave has been quite active on Wall Street as of late, purchasing an additional $1.1 million worth of its shares this quarter in addition to buying back $500,000 worth of its shares during the most recent quarter.

Pie Five & Pizza Inn

They are the owners of the pizza business Pie Five as well as Pizza Inn, which specializes in personal pizzas and serves them in a fast-casual setting, and has 33 locations in 11 different states in the United States in the year 2021.

As of the year 2020, the restaurant chain Pizza Inn, which specializes in pan pizza and pasta, has an astounding number of 252 sites in the United States and 38 locations worldwide.

Before the pandemic, both brands were moving in a downhill direction, and 2020 was a year of significant volatility for them.

Rave's pizza franchises, on the other hand, look to be doing far better now.

Conclusion

"After nine consecutive quarters of profitability, we are transitioning from a turnaround to a stable company primed for growth," said Brandon Solano, CEO of RAVE Restaurant Group, Inc, in a press release. "Our fourth quarter and fiscal year show significant same-store sales growth at both Pizza Inn and Pie Five, net income growth, EBITDA growth, and strong operating cash performance."

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