Pie Five comps jump 6.7%

Same-store sales at 54-unit Pie Five grew 6.7 percent during the fourth quarter, the create-your-own-pizza chain’s parent company announced Thursday.

System-wide average weekly sales for the chain grew 11.1 percent year over year, according to RAVE Restaurant Group, which executives attributed to higher-than-average sales in newer franchised units and strong sales in its comp base. 

Pie Five’s sister concept, Pizza Inn, saw Q4 domestic comps increase 0.2 percent year over year.

RAVE Restaurant Group reported a $0.6M net loss on total consolidated revenues of $13.9 million, the result of increased pre-opening expenses incurred during the quarter. The company said it opened 14 new Pie Five locations during Q4 and plans to add 36 more during the first half of fiscal 2016.

"We're ending the year with great momentum as the Pie Five brand continues to build and expand, and our Pizza Inn brand recorded an increase in total retail sales," said Rave Restaurant Group CEO Randy Gier. "Notably, we've built talent and put in place significant infrastructure to support the scaling of Pie Five through both company and franchise restaurant development."

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Workforce

Restaurants have a hot opportunity to improve their reputation as employers

Reality Check: New mandates for protecting workers from dangerous on-the-job heat are about to be dropped on restaurants and other employers. The industry could greatly help its labor plight by acting first.

Financing

Some McDonald's customers are doubling up on the discounts

The Bottom Line: In some markets, customers can get the fast-food chain's $5 value meal for $4. The situation illustrates a key rule in the restaurant business: Customers are savvy and will find loopholes.

Financing

Ignore the Red Lobster problem. Sale-leasebacks are not all that bad

The decade-old sale-leaseback at the seafood chain has raised questions about the practice. But experts say it remains a legitimate financing option for operators when done correctly.

Trending

More from our partners