RAVE Restaurant Group (RAVE) Reports Q4 Loss of $0.21/Share
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RAVE Restaurant Group (NASDAQ: RAVE) reported Q4 EPS of ($0.21), versus ($0.06) reported last year. Revenue for the quarter came in at $15.7 million, versus $13.86 million reported last year.
For Pie Five, system-wide retail sales increased 59.2% for the fourth quarter of fiscal 2016 when compared to the same period in the prior year driven by an 87.9% increase in average units open and a 14.5% decrease in the system-wide average weekly sales. The decrease in average weekly sales was due to both weaker sales in newer markets and challenging economic conditions in the restaurant industry. Comparable store retail sales decreased by 12.0% for the most recent fiscal quarter compared to the same period in the prior year.
For earnings history and earnings-related data on RAVE Restaurant Group (RAVE) click here.
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