| Company type | Public |
|---|---|
| Nasdaq: RAVE Russell 2000 Component | |
| Industry | Restaurants (SIC code 5812) |
| Founded | 2015[1] |
| Headquarters | , |
Number of locations | 0 O&O; 0 franchise |
Area served | United States |
Key people | Brandon Solano, CEO RAVE Restaurant Group
Mike Burns, COO RAVE Restaurant Group Douglas Kwong, VP of Marketing RAVE Restaurant Group |
| Products | Pizza |
| Revenue | US$ $1.52 billion (Fiscal year 2019) |
| US$0 million (FY 2009) | |
| US$ 0 million (FY 2019) | |
| Total assets | US$ 0 million (2009) |
Number of employees | over 1 |
| Subsidiaries |
Rave Restaurant Group is an American holding company and the owner franchisor of the Pizza Inn and Pie Five restaurant chains.
History
editFormer PepsiCo and Yum! Brands executive Randy Gier joined the company in 2012. He served as CEO until 2016.[2][3]
In January of 2015, Pizza Inn Holdings - the parent company of Pizza Inn had announced a rebrand to Rave Restaurant Group as a portfolio company as Pie Five locations began to increase and to better reflect the company’s transformation from a single-branded restaurant company to a multi-brand portfolio group.[4]
In October 2019, RAVE Restaurant Group announced that its board of directors has named Brandon L. Solano as chief executive officer.[5]
A January 2021 analysis of the chain's struggles identified reasons such as a highly competitive market, very fast location growth and franchising, accustomizing pizza customers to the fast-casual individual experience, mixed reviews at individual locations that may have kept customers from returning, poor marketing investment, potential impending Nasdaq delisting, and a 2018 credit card security breach.[6]
On February 5, 2021, it was reported that Pizza Inn had seen improving sales amid hectic environment during the COVID-19 pandemic. In the period ending December 27, domestic same-store sales decreased from $18.95 million to $15.46 million, or 18.4 percent for the company, which is the chain's best performing quarter since the pandemic began. Pizza Inn also saw comparative sales drop 39 percent in the quarter ending June 28 and 22 percent in the quarter ending September 27.[7]
Brands
edit
- Pie Five - 33 locations in the following states: Arkansas, California, Illinois, Iowa, Kansas, Kentucky, Mississippi, Missouri, Oklahoma, Oregon, and Texas.
References
edit- ^ Cite error: The named reference
historywas invoked but never defined (see the help page). - ^ Hunter, Glenn (March 2016). "A Tale of Two Pies". D Magazine. Retrieved 2020-12-30.
{{cite web}}: CS1 maint: url-status (link) - ^ Kezar, Korri (Jul 21, 2016). "Rave Restaurant Group names interim CEO as top exec steps down". Dallas Business Journal. Retrieved 2020-12-30.
{{cite web}}: CS1 maint: url-status (link) - ^ https://raverg.investorroom.com/2015-01-08-America-Craves-RAVE-Restaurant-Group
- ^ Inc, RAVE Restaurant Group. "RAVE Restaurant Group, Inc. Names Brandon Solano CEO". www.prnewswire.com. Retrieved January 18, 2021.
{{cite web}}:|last=has generic name (help) - ^ "Here's Why Pie Five Is Struggling To Stay In Business". Mashable. January 21, 2021. Retrieved January 30, 2021.
- ^ "Pizza Inn Sees Improving Sales Amid Hectic Environment". FSR Magazine. February 5, 2021. Retrieved April 8, 2021.