After major instability which forced the closure of a number of locations, the brands are on the upswing.
Rave also recently invested in a new, modernized Pizza Inn logo to go along with a fresh new retail design. All of these updates are intended to prioritize and improve the dine-in experience for customers.
"While the restaurant industry abandons dine-in, we continue to lean into our differentiated strategy, focusing on the value and variety of Pizza Inn's buffet while opportunistically capturing delivery and carry-out. We know our customers are hungry for a connection and an 'experience' with their family, not just Covid-esq functional feeding, and we are well positioned to deliver that need," Solano explained.When it comes to Pie Five, things are a bit more complicated.
"Similarly, Pie Five is undergoing significant investment and changes. After six months of testing, we are currently launching the most significant menu transformation in the brand's history, focusing on differentiated pizzas made for the individual and eliminating large pizzas," says Solano."We are also making operational and hospitality improvements to personalize consumers' dine-in experience while reducing third-party delivery friction.
Despite being a work in progress, things are looking up for both Pizza Inn and Pie Five. Investors certainly appreciated Rave's fourth-quarter earnings report, as their stock increased by 15% in morning trading on September 23. Today, the stock is trading at around $1.35 per share.