RAVE Restaurant Group, Inc. Reports First Quarter 2027 Results
Key Highlights
- ➤Net income $0.7 million, up 3.1% year over year
- ➤Revenue $3.3 million, up 3.4% year over year
- ➤Pizza Inn domestic comparable sales fell 4.2% year over year
- ➤Pie Five domestic comparable sales fell 18.2% year over year
- ➤Five planned restaurants from a ten-unit deal delayed beyond fiscal 2027
Expert Statements
Brandon Solano, Chief Executive Officer of RAVE Restaurant Group, Inc.
“The first quarter did not meet our expectations as we faced a challenging macroeconomic pressures and lapping high comparable store sales of +8.1% at Pizza Inn in the first fiscal quarter of the prior year when we rolled out a value promotion centered around an eight dollar buffet at some Pizza Inn restaurants”
Brandon Solano, Chief Executive Officer of RAVE Restaurant Group, Inc.
“And while we are not satisfied with the comparable store sales results at either Pie Five or Pizza Inn in the first quarter, we maintain confidence in our long-term strategy and have initiatives in place designed to sequentially improve Pizza Inn comparable store and total sales moving forward. We are excited about the product innovation coming in December and have earmarked advertising dollars to support the new product with a media campaign. Additionally, Pizza Inn continues to add net buffet store count with the successful opening in Gilbert, South Carolina during the first quarter and has opened a buffet location early in the second quarter in Warner Robins, Georgia. However, due to recent events with the multi-brand operator, we no longer anticipate any of the five new restaurants of the ten-unit development deal reported in the September 24, 2026 earnings release to open this fiscal year.”
Jay Rooney, Chief Financial Officer of RAVE Restaurant Group, Inc.
“We continued to generate cash and further strengthened our balance sheet in the first quarter of fiscal year 2027. Cash generated from operating activities exceeded $1.1 million, helping build our combined cash and short-term asset balance to over $14.8 million at the end of the quarter. With no debt, a $2.9 million deferred tax asset, and a high level of liquidity we have built solid current financial strength and have given ourselves flexibility for the future.”
DALLAS, Nov. 09, 2026 (GLOBE NEWSWIRE) -- RAVE Restaurant Group, Inc. (NASDAQ: RAVE) today reported financial results for the first quarter of fiscal 2027 ended September 27, 2026.
First Quarter Highlights: * The Company recorded net income of $0.7 million for the first quarter of fiscal 2027, a 3.1% increase from the same period of the prior year. * Income before taxes increased by 3.4% to $0.9 million for the first quarter of fiscal 2027 compared to the same period of the prior year. * Total revenue increased by $0.1 million to $3.3 million for the first quarter of fiscal 2027 compared to the same period of the prior year, a 3.4% increase. * Adjusted EBITDA was $0.8 million for the first quarter of fiscal 2027, unchanged from the same period of the prior year. * On a fully diluted basis, net income per share was $0.05 for the first quarter of fiscal 2027, unchanged from the same period of the prior year. * Pizza Inn domestic comparable store retail sales decreased 4.2% in the first quarter of fiscal 2027 compared to the same period of the prior year. First quarter prior year comparable sales increased 8.1%. * Pie Five domestic comparable store retail sales decreased 18.2% in the first quarter of fiscal 2027 compared to the same period of the prior year. First quarter prior year comparable sales decreased 9.1%. * Cash and short-term investments totaled $14.8 million on September 27, 2026. * Pizza Inn domestic unit count finished the quarter at 86, including 81 buffet locations. * Pizza Inn international unit count finished the quarter at 18. * Pie Five domestic unit count finished the quarter at 13. “The first quarter did not meet our expectations as we faced a challenging macroeconomic pressures and lapping high comparable store sales of +8.1% at Pizza Inn in the first fiscal quarter of the prior year when we rolled out a value promotion centered around an eight dollar buffet at some Pizza Inn restaurants” said Brandon Solano, Chief Executive Officer of RAVE Restaurant Group, Inc.
Get started
Create a free account to read the full story.