Pizza Inn (PZZI -1.6%) amends its at-the-market issuance sales agreement with MLV & Co., through which the company previously sold $3M in shares, to allow the sale of an additional $5M in shares. (8-K)
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Pizza Inn (PZZI +8.4%) soars midday on more than four times its average 10-day volume. The company says it has awarded 15 additional Pie Five franchise units to Florida entrepreneur L. Gale Lemerand who has hired former Carrabbas executive John Tintsman as COO to assist in the expansion of the brand. Lemerand now has a total of 25 Pie Five restaurants in Florida.
Pizza Inn (PZZI) gets burned to the tune of 17% premarket after reporting a FQ3 loss of $0.4M or $0.05 per share, down from net income of $0.1M or $0.01 per share in FQ3 2012. Revenues fell 10% Y/Y. Development costs rose for the Pie Five Pizza concept and franchising revenue was lower on a decrease in the average number of restaurants and an 8.1% decrease in same-store sales. (PR)
Pizza Inn (PZZI) announces a $3M common stock shelf offering, to or through one or more underwriters, dealers and agents, or directly to purchasers, on a continuous or delayed basis, at prices and on other terms to be determined at the time of offering. The aggregate market value of its common stock held currently held by non-affiliates is approximately $36.3M. Shares +2.7% AH.
The restaurant sector is on watch after a pre-earnings warning from Darden Restaurants (DRI) and a harsh downgrade on Wendy's (WEN) sets a negative tone. The picture being painted for 2013 is starting to get pretty consistent - margin pain and soft traffic trends. Other things to watch in 2013 for the sector: 1) The impact of higher payroll taxes. 2) The coming costs of the Affordable Care Act. 3) The push to raise the minimum wage. 4) Which chains can succeed in China and India?
A performance index tracked by the National Restaurant Association fell to its lowest level in nine months, with a reading of 100.2 for July down 1.1% M/M. Sagging optimism over future business dampened the effect of brisk same-store sales, as only 22% of restaurant operators expect economic conditions to improve in the next six months. The outlook for capital spending in the sector remained relatively stable.
Shares of a number of restaurant chain operators trade lower after Piper Jaffray hits Panera Bread and Sonic (SONC -4.6%) with harsh two-level downgrades. Though analysts with Piper cite specific execution risks at both companies, the sentiment in the actions seems to have filtered down to hit smaller-sized names in the sector. BAGL -2.7%, THI -2.5%, NATH -2.6%, CBOU -2.3%, PZZI -3.3%, DPZ -1.7%.
Matthew Smith lines up the restaurant sector as set to outperform on the strength of an uptick in consumer spending and an economy he sees as "turning around." Favorite picks in the sector: MCD, YUM, DIN, DRI ,PZZI.
molmaemo+ FollowFollowing- Unfollow|Send Message9 May 2013
: hope so !!
PZZI vs. ETF Alternatives
Pizza Inn Holdings Inc and its subsidiaries operate and franchise pizza buffet, delivery and express restaurants domestically and internationally under the trademark 'Pizza Inn' and operate domestic fast casual restaurants.