Fat Brands jumps on adding 362 more store to development pipeline

Fat Brands

06/02/2023 15:29

** Shares of restaurant chains franchiser Fat Brands Inc
 FAT.O  rise as much as 6% to near three-month high of $7.51
    ** Company says it was adding a total of 362 stores to its
development pipeline, which spans 29 states and 17 countries
    ** FAT opened 142 new stores in 2022 
    ** Franchisee interest was at an all-time high from both new
and existing franchisees, says Chief Development Officer Taylor
Wiederhorn
    ** He adds company will remain focused on converting over
1,000-unit pipeline into new stores, about 175 of which are set
to open in 2023
    ** Stock has fallen ~31% in the last 12 months
 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))