Nathan's Famous (NATH) has built a successful business by marketing and selling branded products. Familiar to many in the Northeastern United States and beyond, these products include beef hot dogs, crinkle cut French fries, mustards, and pickles, among others. Nathan's makes money by selling its products through a branded products program, franchising quick service restaurants, and, increasingly, a license program that allows third parties to create and sell Nathan's Famous branded products. The increasing importance of the licensing program gives Nathan's an avenue for strong profit margin expansion and the ability to maintain an enviable balance sheet. Retail license royalties for the 39-week period ended December 23 grew 15% compared to the previous year (source)....
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