x
Feb. 22, 2021
With mass quantities of snow in places as far south as Texas, last week left a lot to be desired for many Americans, including pizza restaurateurs. Pizza commodity prices and restaurant company trading held little in the way of pleasantries as prices for fuel and wheat trended higher and stock prices dipped.
At Ann Arbor, Michigan-based Domino s, the share value fell $14.16 over the course of the trading week to land Friday at $371.46. Stock for Louisville-based Papa John s International Inc. fell from $108.97 to $103.68 over the week s trading activity a loss of $5.29 over the five trading days.
Fellow Louisville-based restaurant company, Yum Brands parent of Pizza Hut dipped 39 cents to close at $105.13, and the news wasn t much better for Pizza Inn and Pie Five parent, Rave Restaurant Group. Its stock, which was up to $1.70 the previous week, finished Friday at $1.40.
Despite the pizza commodities "Grinch" of ever-escalating gas prices, last week was a pretty good one for the country s leading publicly traded pizza companies.
Share this article
Share this article
DALLAS, Feb. 5, 2021 /PRNewswire/ RAVE Restaurant Group, Inc. (NASDAQ: RAVE) today reported financial results for the second quarter ended December 27, 2020.
Second
Quarter Highlights:
The Company recorded net income of $102 thousand for the second quarter of fiscal 2021 compared to net income of $14 thousand for the same period of the prior year.
Total revenue decreased by $0.7 million to $2.1 million for the second quarter of fiscal 2021 compared to the same period of the prior year.
Income before taxes was $104 thousand for the second quarter of fiscal 2021 compared to $10 thousand for the same period of the prior year.
Logo: Provided
Feb. 5, 2021
Pizza Inn and Pie Five parent company, Rave Restaurant Group Inc., reported Friday that the pandemic severely hurt the brands Q2 sales, which ended Dec. 27.
Pizza Inn reported that comp sales were down 18%, while Pie Five recorded a 16% drop in comp sales. A news release concerning the earnings report did not include the total comp sales quantity for each brand. While we continue to work through challenges presented by the pandemic, we are seeing strong indications that the team and strategy we ve put into place are taking hold and yielding results in repositioning Rave for long-term success, CEO Brandon Solano said in the release. We hold significant cash, have limited leverage, and were more profitable in Q2 during the pandemic than we were in Q2 a year ago before COVID-19 was declared a pandemic leading to dining room restrictions and closures.
As president is sworn in, pizza investors buy in
The inauguration of a new president can be an unsettling time for publicly traded companies, but as President Joe Biden took the lead last week, investors stayed faithful to the power of the pie.
Photo: iStock
Pizza investors were apparently in a positive mood last week, as the U.S. ushered in its new president, and stock prices for all four publicly traded pizza restaurant brands monitored by this site turned in nice gains. That combined with the fact that most pizza commodity prices dropped over the week likely put some smiles on restaurant leaders faces.