NORTH PALM BEACH

BurgerFi Reports Preliminary Unaudited Fourth Quarter and Fiscal Year 2023 Results

Retrieved on: 
Monday, April 1, 2024
Digital, Sale, Acquisition, Same-store sales, Adjustment, Chain, Credit, Investment, Restaurant, Depreciation, GAAP, Calendar, BurgerFi, Video game

Restaurant-level operating expenses for the fourth quarter of 2023 were $34.5 million compared to $36.4 million in the fourth quarter of 2022.

Key Points: 
  • Restaurant-level operating expenses for the fourth quarter of 2023 were $34.5 million compared to $36.4 million in the fourth quarter of 2022.
  • For the BurgerFi brand, restaurant-level operating expenses, as a percentage of sales, increased 660 basis points for the fourth quarter of 2023, compared to the fourth quarter of 2022, primarily due to lower leverage on sales.
  • During the fourth quarter 2023, there were three franchised BurgerFi openings, five franchised BurgerFi closures and no corporate-owned Anthony's closures.
  • The Company will hold a conference call today to discuss its fourth quarter and fiscal year 2023 results.

BurgerFi to Report Fourth Quarter and Fiscal Year 2023 Financial Results on April 1, 2024

Retrieved on: 
Friday, March 29, 2024
BurgerFi

FORT LAUDERDALE, Fla., March 29, 2024 (GLOBE NEWSWIRE) -- BurgerFi International, Inc. (NASDAQ: BFI, BFIIW) (“BurgerFi”), owner of one of the nation’s leading fast-casual “better burger” dining concepts through the BurgerFi brand, and the high-quality, casual dining pizza brand under the name Anthony’s Coal Fired Pizza & Wings (“Anthony’s”), will report financial results for the fourth quarter and fiscal year ended January 1, 2024 on Monday, April 1, 2024 after the market closes.

Key Points: 
  • FORT LAUDERDALE, Fla., March 29, 2024 (GLOBE NEWSWIRE) -- BurgerFi International, Inc. (NASDAQ: BFI, BFIIW) (“BurgerFi”), owner of one of the nation’s leading fast-casual “better burger” dining concepts through the BurgerFi brand, and the high-quality, casual dining pizza brand under the name Anthony’s Coal Fired Pizza & Wings (“Anthony’s”), will report financial results for the fourth quarter and fiscal year ended January 1, 2024 on Monday, April 1, 2024 after the market closes.
  • Management will host a conference call at 4:30 p.m. Eastern time on the same day to discuss the results.
  • The conference call will be broadcast live and available for replay on the Company’s Investor Relations website at ir.burgerfi.com.
  • Please call the conference telephone number 5-10 minutes prior to the start time.

Early Warning Report Issued Pursuant to National Instrument 62-103 – Disposition of Securities of Clip Money Inc.

Retrieved on: 
Friday, March 8, 2024
PALM, Transaction, TSX Venture Exchange, Telephone, Ontario Securities Commission, Early warning, CAD, Indian stock exchange, Legislation, KOAT, Security (finance)

Prior to the Transactions, KOAT owned an aggregate of 14,914,292 Common Shares, representing approximately 14.21% of the Company’s current issued and outstanding Common Shares.

Key Points: 
  • Prior to the Transactions, KOAT owned an aggregate of 14,914,292 Common Shares, representing approximately 14.21% of the Company’s current issued and outstanding Common Shares.
  • Following the Transactions, KOAT owns 10,564,660 Common Shares, representing approximately 10.07% of the Company’s current issued and outstanding Common Shares.
  • A copy of such report may also be obtained by contacting Mr. Daren Trousdell (by e-mail at [email protected] or by telephone at 561-515-9010).
  • KOAT is located at 736 Ibis Way, North Palm Beach, FL 33408 and the Company’s head office is located at 96 Riverdale Ave, Ottawa, Ontario K1S 1R2.

BurgerFi Provides Fiscal Year 2023 Business Update

Retrieved on: 
Monday, January 8, 2024
POS, NDM, Depreciation, Conference, Restaurant, Consolidated, Sale, Acquisition, Holiday, Public expenditure, Same-store sales, Chain, Bachmann, Total, BurgerFi, Calendar, Feedback, Growth, Fast food

FORT LAUDERDALE, Fla., Jan. 08, 2024 (GLOBE NEWSWIRE) -- BurgerFi International, Inc. (NASDAQ: BFI, BFIIW) (“BurgerFi” or the “Company”), owner of the high-quality, casual dining pizza brand under the name Anthony’s Coal Fired Pizza & Wings (“Anthony’s”) and one of the nation’s leading fast-casual “better burger” dining concepts through the BurgerFi brand, today reported preliminary results for the fiscal year 2023 which ended on January 1, 2024. The Company also set its initial business outlook for fiscal year 2024 as it focuses on five key strategic initiatives.

Key Points: 
  • The Company also set its initial business outlook for fiscal year 2024 as it focuses on five key strategic initiatives.
  • Finally, later this month, BurgerFi will return to New York City with the grand reopening of our flagship, company-owned, BurgerFi restaurant and Better Burger Lab.”
    Christopher Jones, Chief Financial Officer of BurgerFi, noted, “We have started to see early signs of improvement across the business.
  • *The fourth quarter and fiscal year 2023 reporting periods for BurgerFi changed to a quarter 4-4-5 calendar with a 52-53 week fiscal year ending on the Monday nearest December 31 of each year to improve the alignment of financial and business processes following the acquisition of Anthony’s.
  • We have adjusted for differences arising from the different fiscal-period ends for the quarter and fiscal year 2023 when comparing to 2022.

BurgerFi to Participate in the 26th Annual ICR Conference

Retrieved on: 
Wednesday, January 3, 2024
Conference, BurgerFi

FORT LAUDERDALE, Fla., Jan. 03, 2024 (GLOBE NEWSWIRE) -- BurgerFi International, Inc. (NASDAQ: BFI, BFIIW) (“BurgerFi” or the “Company”), owner of the high-quality, casual dining pizza brand under the name Anthony’s Coal Fired Pizza & Wings (“Anthony’s”) and one of the nation’s leading fast-casual “better burger” dining concepts through the BurgerFi brand, today announced that management will participate in the 26th Annual ICR Conference.

Key Points: 
  • FORT LAUDERDALE, Fla., Jan. 03, 2024 (GLOBE NEWSWIRE) -- BurgerFi International, Inc. (NASDAQ: BFI, BFIIW) (“BurgerFi” or the “Company”), owner of the high-quality, casual dining pizza brand under the name Anthony’s Coal Fired Pizza & Wings (“Anthony’s”) and one of the nation’s leading fast-casual “better burger” dining concepts through the BurgerFi brand, today announced that management will participate in the 26th Annual ICR Conference.
  • Carl Bachmann, Chief Executive Officer, and Christopher Jones, Chief Financial Officer, will be hosting a fireside chat on Tuesday, January 9, 2024 at 10:30 a.m. Eastern Time.
  • The Company will also host 1x1 investor meetings and breakout sessions on January 8th - 9th.

BurgerFi Reports Third Quarter 2023 Results

Retrieved on: 
Wednesday, November 15, 2023
Sale, EBITDA, Acquisition, Same-store sales, Restaurant, Investment, Chain, Depreciation, Corporate-owned life insurance, ITV Digital Channels, Digital, GAAP, Adjustment, BurgerFi, Video game, Fast food, Growth

Bachmann continued, “Many of the initial initiatives we put in place are already taking hold, including the expanded menus at BurgerFi and Anthony’s. Most recently, we successfully executed the biggest enhancement of the BurgerFi menu in company history, adding wings and salad bowls, and the response has been resounding. At the end of the month, we will also launch chicken sandwiches. At Anthony’s, we added a Chicken Alfredo and Artichoke Pizza, and two pasta dishes -- Spaghetti and Meatballs and Italian Fettuccine Alfredo. We have already decreased turnover at both brands and significantly reduced training labor which has resulted in higher consumer satisfaction scores as well as faster throughput and ticket times. These are leading indicators that we are on the right path towards higher sales and margins.”

Key Points: 
  • Restaurant-level operating expenses for the third quarter of 2023 were $32.9 million compared to $35.2 million in the third quarter of 2022.
  • For the BurgerFi brand, restaurant-level operating expenses, as a percentage of sales, increased 440 basis points for the third quarter of 2023, compared to the third quarter of 2022, primarily due to lower leverage on sales.
  • During the third quarter 2023, there was one corporate-owned Anthony’s and three franchise BurgerFi closures.
  • Management is updating its outlook for the fiscal year 2023:
    The Company will hold a conference call today, November 15, 2023, at 8:30 a.m. Eastern time to discuss its third quarter 2023 results.

BurgerFi to Report Third Quarter 2023 Financial Results on November 15, 2023

Retrieved on: 
Wednesday, November 8, 2023
BurgerFi

FORT LAUDERDALE, Fla., Nov. 08, 2023 (GLOBE NEWSWIRE) -- BurgerFi International, Inc. (NASDAQ: BFI, BFIIW) (“BurgerFi”), owner of one of the nation’s leading fast-casual “better burger” dining concepts through the BurgerFi brand, and the high-quality, casual dining pizza brand under the name Anthony’s Coal Fired Pizza & Wings (“Anthony’s”), will report financial results for the third quarter ended October 2, 2023 on Wednesday, November 15, 2023 before the market opens.

Key Points: 
  • FORT LAUDERDALE, Fla., Nov. 08, 2023 (GLOBE NEWSWIRE) -- BurgerFi International, Inc. (NASDAQ: BFI, BFIIW) (“BurgerFi”), owner of one of the nation’s leading fast-casual “better burger” dining concepts through the BurgerFi brand, and the high-quality, casual dining pizza brand under the name Anthony’s Coal Fired Pizza & Wings (“Anthony’s”), will report financial results for the third quarter ended October 2, 2023 on Wednesday, November 15, 2023 before the market opens.
  • Management will host a conference call at 8:30 a.m. Eastern time on the same day to discuss the results.
  • The conference call will be broadcast live and available for replay on the Company’s Investor Relations website at ir.burgerfi.com.
  • Please call the conference telephone number 5-10 minutes prior to the start time.

Derivative Action against BurgerFi Dismissed

Retrieved on: 
Thursday, September 21, 2023
BurgerFi, Prejudice, District court, United States district court

FORT LAUDERDALE, Fla., Sept. 21, 2023 (GLOBE NEWSWIRE) -- BurgerFi International, Inc. (Nasdaq: BFI, BFIIW) (“BurgerFi” or the “Company”), owner of one of the nation’s leading fast-casual “better burger” dining concepts through the BurgerFi brand, and the high-quality, casual dining pizza and wings concept under the name Anthony’s Coal Fired Pizza & Wings (“Anthony’s”) brand, announces that a derivative action filed August 30, 2023 by two BurgerFi shareholders purportedly on behalf of the Company against certain of its current and former directors and officers has been voluntarily dismissed.

Key Points: 
  • FORT LAUDERDALE, Fla., Sept. 21, 2023 (GLOBE NEWSWIRE) -- BurgerFi International, Inc. (Nasdaq: BFI, BFIIW) (“BurgerFi” or the “Company”), owner of one of the nation’s leading fast-casual “better burger” dining concepts through the BurgerFi brand, and the high-quality, casual dining pizza and wings concept under the name Anthony’s Coal Fired Pizza & Wings (“Anthony’s”) brand, announces that a derivative action filed August 30, 2023 by two BurgerFi shareholders purportedly on behalf of the Company against certain of its current and former directors and officers has been voluntarily dismissed.
  • The dismissal of this derivative lawsuit follows the recent dismissal of a related securities class action lawsuit, John Walker v. BurgerFi International, Inc. et al., Case No.
  • Both cases were dismissed in the preliminary stages without the company agreeing to any monetary or non-monetary settlement to the plaintiffs or their counsel.
  • "I am pleased to announce the dismissal of the derivative lawsuit so soon after the dismissal of the securities class action.

Securities Class Action Lawsuit against BurgerFi Dismissed

Retrieved on: 
Thursday, September 7, 2023
BurgerFi, District court, United States district court, Tobacco

FORT LAUDERDALE, Fla., Sept. 07, 2023 (GLOBE NEWSWIRE) -- BurgerFi International, Inc. (Nasdaq: BFI, BFIIW) (“BurgerFi” or the “Company”), owner of one of the nation’s leading fast-casual “better burger” dining concepts through the BurgerFi brand, and the high-quality, casual dining pizza and wings concept under the name Anthony’s Coal Fired Pizza & Wings (“Anthony’s”) brand, announces that the lead plaintiffs in the previously disclosed securities class action lawsuit filed on April 6, 2023 against BurgerFi and certain current and former executives have voluntarily dismissed the lawsuit.

Key Points: 
  • FORT LAUDERDALE, Fla., Sept. 07, 2023 (GLOBE NEWSWIRE) -- BurgerFi International, Inc. (Nasdaq: BFI, BFIIW) (“BurgerFi” or the “Company”), owner of one of the nation’s leading fast-casual “better burger” dining concepts through the BurgerFi brand, and the high-quality, casual dining pizza and wings concept under the name Anthony’s Coal Fired Pizza & Wings (“Anthony’s”) brand, announces that the lead plaintiffs in the previously disclosed securities class action lawsuit filed on April 6, 2023 against BurgerFi and certain current and former executives have voluntarily dismissed the lawsuit.
  • On September 5, 2023, United States District Court Judge Raag Singhal for the Southern District of Florida issued an order dismissing the class action lawsuit in the case of John Walker v. BurgerFi International, Inc. et al., Case No.
  • 023-cv-60657, and closed the case, with each party bearing its own fees and costs.
  • “BurgerFi is thankful that this lawsuit has been dismissed so that we can focus on moving forward without the distraction of the lawsuit,” stated BurgerFi’s Chief Executive Officer Carl Bachmann.

BurgerFi Reports Second Quarter 2023 Results

Retrieved on: 
Wednesday, August 16, 2023
Same-store sales, BurgerFi, GAAP, Chain, Corporate-owned life insurance, Sale, ITV Digital Channels, EBITDA, Acquisition, Investment, Restaurant, Anthony, Depreciation, Digital, Adjustment, Video game, Fast food, Growth

Restaurant-level operating expenses for the second quarter of 2023 were $35.2 million compared to $36.2 million in the second quarter of 2022.

Key Points: 
  • Restaurant-level operating expenses for the second quarter of 2023 were $35.2 million compared to $36.2 million in the second quarter of 2022.
  • For the BurgerFi brand, restaurant-level operating expenses, as a percentage of sales, increased 500 basis points for the second quarter of 2023, compared to the second quarter of 2022, primarily due to lower leverage on sales.
  • Adjusted EBITDA in the second quarter of 2023 decreased $0.6 million to $2.0 million compared to $2.6 million in the second quarter of 2022, driven by lost leverage on sales at BurgerFi partially offset by higher same-store sales and lower food costs at Anthony’s.
  • The Company will hold a conference call today, August 16, 2023, at 8:30 a.m. Eastern time to discuss its second quarter 2023 results.