Yeah, but sucks to write it off just a year or two after spending it. RAVE doesn't have much to buffer mistakes like that. Hopefully, they get their act together soon.
"MOD Pizza appoints IPO veteran Bob Barton as CFO"
They say that they'll add another 80 units by end of year. They have over $100M in equity funding so far. P5 needs more funding to ramp up the expansion, among other things.
Unfortunately, not all franchisees are created equal. Think these high profile urban locations would go a long way toward elevating the brand.
Did you hear what happened in MI? Looks like they're still planning to open stores there and WI. Was it a permitting issue?
I suspect these are older stores in DFW. relatively older that is. Didn't I see somewhere that they put in some new stores close to some older stores and thought they were cannibalizing sales? If this is the cause of the impairment, then they are still making up for older mistakes, at least pre-Perry Jones days.
Weak sales suck. Didn't BWLD have same issue? Blamed it on the calendar. Wonder how much the sales are impacting new franchise units versus competitive RE market. Also, wonder what dinner sales are like compared to lunch.
The valuation allowance is a bummer too. not expecting profit for awhile.
Hope to see new units ramp up again. Last few months have been too slow for this many franchise partners.
Time will tell. This is still highly speculative. But getting closer to range where I may pull the trigger and add some more. Just gotta remember to sell when/if above 15 again.