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Pizza Inn-parent Rave focuses on cost control, CEO Brandon Solano says

Restaurant company reports net income of $600K for Dec. 24-ended Q2 2024

Ron Ruggless, Senior Editor

February 2, 2024

1 Min Read
Rave Brandon Solano CEO Pizza Inn Pie Five Q2
Rave Restaurant Group, parent to the Pizza Inn and Pie Five brands, kept a control on costs in the second quarter, said CEO Brandon Solano.Rave Restaurant Group Inc.

Rave Restaurant Group Inc. focused on cost control in its Dec. 24-ended second quarter, leading to a net income of $600,000, the restaurant company reported Thursday.

Brandon Solano, Rave CEO, said in a statement: “This fiscal quarter, we focused on our unwavering commitment to maintain tight cost control, which has been a cornerstone of our success.”

The Colony, Texas-based company, which also owns the Pie Five fast-casual brand, said net income was $600,000, or four cents a share, nearly double the $300,00, or two cents a share, reported in the same period last year. Revenue declined slightly by $100,000, to $2.8 million, compared to the prior-year quarter, the company said.

“Despite a slight decrease in total revenue, we saw steady profit growth with net income reaching $0.6 million compared to $0.3 million in the same period last year," Solano said. “This is a testament to the dedication of our team and the effectiveness of our financial strategies, positioning us for sustained growth and shareholder value.”

Pizza Inn domestic same-store retail increased 7% in the quarter.  Pie Five domestic same-store sales increased 0.8% in the period.

On the company’s reimaging program, Solano noted, “We’ve embarked on a significant journey to reimagine our stores, and I’m excited to announce 10 more Pizza Inn restaurants are set to begin the process, which elevates both the aesthetics and functionality.”

Related:Pizza Inn continues expansion with multi-unit franchise agreement in Tennessee and North Carolina

The company has completed a prototype in Asheboro, N.C., Solano said. “We anticipate completing most of these transformations before the end of the fiscal year,” he said.

As of Dec. 24, Pizza Inn’s domestic unit count was 112. Pizza Inn’s international unit count was 18. Pie Five had 24 domestic restaurants.

Contact Ron Ruggless at Ronald.Ruggless@Informa.com

Follow him on X/Twitter: @RonRuggless

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Rave Restaurants Group

About the Author

Ron Ruggless

Senior Editor, Nation’s Restaurant News / Restaurant Hospitality

Ron Ruggless serves as a senior editor for Informa Connect’s Nation’s Restaurant News (NRN.com) and Restaurant Hospitality (Restaurant-Hospitality.com) online and print platforms. He joined NRN in 1992 after working 10 years in various roles at the Dallas Times Herald newspaper, including restaurant critic, assistant business editor, food editor and lifestyle editor. He also edited several printings of the Zagat Dining Guide for Dallas-Fort Worth, and his articles and photographs have appeared in Food & Wine, Food Network and Self magazines. 

Ron Ruggless’ areas of expertise include foodservice mergers, acquisitions, operations, supply chain, research and development and marketing. 

Ron Ruggless is a frequent moderator and panelist at industry events ranging from the Multi-Unit Foodservice Operators (MUFSO) conference to RestaurantSpaces, the Council of Hospitality and Restaurant Trainers, the National Restaurant Association’s Marketing Executives Group, local restaurant associations and the Horeca Professional Expo in Madrid, Spain.

Ron Ruggless’ experience:

Regional and Senior Editor, Informa Connect’s Nation’s Restaurant News and Restaurant Hospitality (1992 to present)

Features Editor – Dallas Times Herald (1989-1991)

Restaurant Critic and Food Editor – Dallas Times Herald (1987-1988)

Editing Roles – Dallas Times Herald (1982-1987)

Editing Roles – Charlotte (N.C.) Observer (1980-1982)

Editing Roles – Omaha (Neb.) World-Herald (1978-1980)

Email: Ronald.Ruggless@Informa.com

Social media:

Twitter@RonRuggless

LinkedIn: www.linkedin.com/in/ronruggless

Instagram: @RonRuggless

TikTok: @RonRuggless

 

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