- The stock price of FAT Brands (FAT) increased by 10.79% today. This is why.
The stock price of FAT Brands (FAT) increased by 10.79% today.
Why: FAT (Fresh. Authentic. Tasty.) Brands announced it has opened a record-breaking 100 new franchised locations so far this year, and is poised for further growth, with approximately 25 additional stores slated to open by year end. And this is the first year since the company’s inception in 2017 that it has surpassed 100 openings in a year.
After a year of strategic acquisitions in 2021, the company has committed to expanding organically. And notable openings, which spanned 17 states and 14 countries, included new locations in Mexico of the company’s co-branded burger and wing concept, Fatburger and Buffalo’s Express, and Twin Peaks.
The Mexico openings marked the first of 82 Twin Peaks and Fatburger and Buffalo’s Express units set to open in the country in the coming years. And Fatburger & Buffalo’s Express also arrived in the Democratic Republic of Congo and was one of the highest volume international openings to date for the co-branded pair. Plus Johnny Rockets continues to experience sizzling international growth, notching 12 openings this year. Domestically, the classic burger brand made its co-branded debut alongside Hurricane Grill & Wings’ new model, Hurricane Wings, in Washington, DC
Round Table Pizza is continuing to roll its way through Texas, with its fourth location in the state opening in San Antonio. And FAT Brands’ late 2021 acquisition, Fazoli’s, baked up three more locations in Florida. On the alternative growth front, Johnny Rockets cruised into Royal Caribbean’s Wonder of the Seas, while Fatburger landed in two new casino locations in Las Vegas, The Venetian® Resort and the Excalibur Hotel & Casino.
“With a development pipeline of over 1,000 units, we have been laser-focused on successfully launching new locations across multiple brands. Opening 100 stores so far this year is an incredible accomplishment and a testament to our dedicated franchises and appeal of our family of brands. Equally impressive is the type of growth we have achieved. While we continued to expand in existing territories, we broke ground in new countries and states and debuted new co-branded concepts and non-traditional units.”
— FAT Brands CEO Andy Wiederhorn