Pie Five Pizza Same-Store Sales Up 16.9%
Rave Restaurant Group Inc., which changed its name in January from Pizza Inn Holdings Inc., reported its Q2 financial results this week. On the quarter, the company’s fast-casual Pie Five Pizza Co. brand saw same-store sales rise 16.9 percent. Pie Five also saw system wide sales increase 118 percent in the quarter over the same period a year ago, with the opening of seven new units.
Pie Five Pizza
“Pie Five continues to report double-digit comps, while we invest resources to open new company and franchisee restaurants,” said Rave CEO Randy Gier in prepared remarks. ”The first half of our fiscal year was critical to establishing our growth foundation,” Gier continued. “Pizza Inn recorded its third consecutive quarter of positive comp sales, reflecting a clear stabilization of our legacy brand.”
Pizza Inn had 252 locations at the end of the quarter. Gier shared that development plans for Pie Five are on track. “We expect to end the 2015 fiscal year with 60 to 65 total restaurants open in the Pie Five system, which includes an estimated 25 to 28 total company-owned restaurants,” he concluded.
Some Tasty Facts About Pie Five Pizza
Founded in 2011, Pie Five currently operates 37 locations in six states, but has 225 more franchise and 80 company locations under contract in 13 states and Washington, D.C. And, Pie Five Pizza is the number one fast fast casual brand in their category! Ready to learn more? Let’s talk.