BBQ Holdings, Inc. Reports Results for Third Quarter of Fiscal 2019
BBQ Holdings, Inc. (BBQ)
Company Research
Source: GlobeNewswire
MINNEAPOLIS, Nov. 12, 2019 (GLOBE NEWSWIRE) -- BBQ Holdings, Inc. (NASDAQ: BBQ) (the “Company”), an innovating owner and operator of barbeque restaurants, globally, today reported financial results for the third fiscal quarter ended September 29, 2019. Third Quarter 2019 Highlights: Company-owned same store net sales increased 0.4%, driven by a 4.7% increase in To-Go same store net sales and a 12.7% increase in Catering, marking eight of the nine prior quarters experiencing positive comparable sales.Franchise-operated same store net sales increased 2.1% year-over-year.Reacquired five Famous Dave’s franchise stores. Achieved 53% of restaurant sales, net in growing off-premise lines of business and 47% dine-in.Net loss of $50,000, driven by acquisition and pre-opening costs.Adjusted EBITDA of $1.0 million.Generated $1.0 million of operating cash flows.Signed a lease on a 3,000 square foot bar-centric restaurant in the Uptown neighborhood of Minneapolis, which begins the exec
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