FAT Brands announces eleven international Johnny Rockets openings in 2024, expanding its presence in airports and theme parks.
Quiver AI Summary
FAT Brands Inc., the parent company of Johnny Rockets, announced eleven new international openings for the burger chain in 2024, reinforcing its growth strategy in global markets. These recent openings include locations in Chile, Bali, Mexico, Brazil, and a ghost kitchen in the UAE, with non-traditional venues like airports and theme parks representing a significant portion of the new sites. The brand, which has been expanding internationally with locations now accounting for 55% of its total, aims to enhance its presence in key markets like Brazil and Mexico. COO Jake Berchtold highlighted the ongoing high demand for Johnny Rockets’ offerings and the commitment to providing a classic American dining experience.
Potential Positives
- FAT Brands announces eleven new international openings for Johnny Rockets in 2024, highlighting strong global expansion efforts.
- International locations account for approximately 55 percent of Johnny Rockets' operations, demonstrating significant growth potential in the international market.
- The brand's successful entries into non-traditional spaces, such as theme parks and airports, indicate a strategic diversification of locations that could enhance revenue streams.
- Continued growth in key countries like Brazil and Mexico, with expanding location counts, signals strong demand and market presence in these regions.
Potential Negatives
- The company's reliance on non-traditional locations, such as airports and theme parks, may indicate a struggling performance in standard restaurant settings, potentially highlighting weaknesses in core business operations.
- The report of eleven international openings could suggest a lack of domestic expansion or new openings, possibly indicating a stagnation in the brand's appeal within the U.S. market.
- Despite the expansion, there is no mention of financial performance or profitability from these new openings, raising concerns about the viability and sustainability of the international growth strategy.
FAQ
What is the significance of Johnny Rockets' international openings in 2024?
Eleven new international openings in 2024 demonstrate Johnny Rockets' commitment to global growth and expanding its brand presence.
Where are the new Johnny Rockets locations situated?
The new locations are in Chile, Bali, Mexico, Brazil, and a ghost kitchen in the UAE.
What percentage of Johnny Rockets' locations are international?
Approximately 55 percent of Johnny Rockets locations worldwide are international, highlighting its global reach.
What types of locations are included in the recent openings?
Recent openings include non-traditional spaces like theme parks and airports, emphasizing the brand's versatility.
When did the first Johnny Rockets restaurant open?
The first Johnny Rockets restaurant opened on June 6, 1986, on Melrose Avenue in Los Angeles.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FAT Insider Trading Activity
$FAT insiders have traded $FAT stock on the open market 9 times in the past 6 months. Of those trades, 9 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $FAT stock by insiders over the last 6 months:
- ANDREW WIEDERHORN purchased 1,000 shares.
- CUTTER HOLDINGS, LLC FOG has traded it 5 times. They made 5 purchases, buying 4,020 shares and 0 sales.
- MARK ELENOWITZ has traded it 3 times. They made 3 purchases, buying 9,200 shares and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FAT Hedge Fund Activity
We have seen 4 institutional investors add shares of $FAT stock to their portfolio, and 16 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- TD WATERHOUSE CANADA INC. removed 24,000 shares (-100.0%) from their portfolio in Q3 2024
- SMH CAPITAL ADVISORS INC removed 11,159 shares (-100.0%) from their portfolio in Q2 2024
- SIMPLICITY WEALTH,LLC removed 10,928 shares (-100.0%) from their portfolio in Q2 2024
- BLEAKLEY FINANCIAL GROUP, LLC removed 10,928 shares (-100.0%) from their portfolio in Q2 2024
- ROYAL BANK OF CANADA removed 10,212 shares (-100.0%) from their portfolio in Q3 2024
- FNY INVESTMENT ADVISERS, LLC removed 3,800 shares (-100.0%) from their portfolio in Q2 2024
- COPELAND CAPITAL MANAGEMENT, LLC removed 3,458 shares (-100.0%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Classic Burger Concept Celebrates Eleven International Openings
LOS ANGELES, Dec. 16, 2024 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc. , parent company of Johnny Rockets and 17 other restaurant concepts, announces eleven new international openings for Johnny Rockets in 2024. International locations account for approximately 55 percent of Johnny Rockets worldwide and are a key growth area for the brand.
Since January 2024, Johnny Rockets has opened two locations in Chile, two locations in Bali, Indonesia, four locations in Mexico, two locations in Brazil and one ghost kitchen in the United Arab Emirates. Non-traditional locations at Fantislandia II Theme Park in Chile, Juazeiro de Norte Airport in Brazil, Gusti Ngurah Rai International Airport in Bali, Aeropuerto Internacional Felipe Angeles and Aeropuerto Internacional de Ciudad Juarez in Mexico accounted for five of the eleven recent openings abroad, underscoring Johnny Rockets’ strength in and commitment to continued growth in non-traditional spaces such as airports and theme parks.
“The demand for the iconic Johnny Rockets’ experience continues to remain high internationally,” said Jake Berchtold, COO of FAT Brands ’ Fast Casual Division. “Similarly, we continue to cement ourselves in key growth countries such as Brazil, where we now tally over 40 locations, and in Mexico, with almost 25 locations.”
The first Johnny Rockets restaurant opened June 6, 1986, on Melrose Avenue in Los Angeles. Since that time, the chain’s timeless all-American brand has connected with customers across the U.S. and in more than 25 other countries around the globe. The Johnny Rockets team’s passion for delivering fresh, classic American fare is only equaled by their commitment to providing a superb guest experience.
For more information on Johnny Rockets, visit www.johnnyrockets.com .
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About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual, quick-service, casual and polished casual dining restaurant concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com .
About Johnny Rockets
Founded in 1986 on Melrose Avenue in Los Angeles, Johnny Rockets is a world-renowned international franchise that offers high-quality, innovative menu items including Certified Angus Beef
®
cooked-to-order hamburgers, veggie burgers, chicken sandwiches, crispy fries, and rich, delicious hand-spun shakes and malts. With over 325 locations in over 25 countries around the globe, this dynamic lifestyle brand offers friendly service and upbeat music contributing to the chain’s signature atmosphere of relaxed, casual fun.
For more information, visit www.johnnyrockets.com .
MEDIA C
ONTACT
:
Erin Mandzik, FAT Brands
[email protected]
860-212-6509
