Movers and SHAKERS
FAT Brands Inc. (FAT)
FAT Brands at NobleCon17
FAT Brands Inc is a multi-brand restaurant franchising company. It develops, markets, and acquires predominantly fast casual restaurant concepts. The company provides turkey burgers, chicken Sandwiches, chicken tenders, burgers, ribs, wrap sandwiches, and others. Its brand portfolio comprises Fatburger, Buffalo's Cafe and Express, and Ponderosa and Bonanza. The company's overall footprint covers nearly 32 countries. Fatburger generates maximum revenue for the company.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
NobleCon17. We hosted FAT Brands CEO Andrew Wiederhorn at NobleCon17. A replay can be accessed at https://www.channelchek.com/news-channel/NobleCon17_Rebroadcast . Mr. Wiederhorn provided an in-depth review of where the Company has been, where it is today, and where it is going. The integration of Johnny Rockets is proceeding nicely. FAT is close to re-franchising all the previously owned locations. Cross selling of franchise concepts is proceeding apace with a goal of opening some 70 new locations in 2021.
Restaurants Rebounding. Relaxation of COVID restrictions and increased take out and to go orders are driving improvement in overall sales, illustrated by the 53% sequential systemwide sales increase in the third quarter. Notably, the casual dining concepts have been comping at over 100% of normalized revenue, while the burger concepts are north of 80%, even with a number of locations still ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.