Brief: Rave Restaurant Group Reports Second Fiscal Quarter 2018 Financial Results

Rave Restaurant

06/02/2018 13:30

Feb 6 (Reuters) - Rave Restaurant Group Inc  RAVE.O : 
    * RAVE RESTAURANT GROUP, INC. REPORTS SECOND FISCAL QUARTER 
2018 
FINANCIAL RESULTS 
    * Q2 REVENUE FELL 38.1 PERCENT TO $4.2 MILLION 
    * Q2 LOSS PER SHARE $0.04 
    * DURING FISCAL QUARTER ENDED DECEMBER 24, 2017, COMPANY 
DISCONTINUED ITS NORCO DISTRIBUTION DIVISION 
    * RAVE RESTAURANT GROUP  - SALE OF FOOD, EQUIPMENT, 
SUPPLIES NO 
LONGER RECOGNIZED AS REVENUE, COST OF SUCH ITEMS IS NO LONGER 
INCLUDED IN COST OF SALES 
    * DURING Q2, NUMBER OF PIZZA INN DOMESTIC UNITS DECLINED TO 
156, 
WHILE INTERNATIONAL UNITS INCREASED TO 62 
    * QTRLY PIZZA INN DOMESTIC COMPARABLE STORE RETAIL SALES 
INCREASED 
2.7PCT FROM SAME PERIOD OF PRIOR YEAR 
    * QTRLY PIE FIVE COMP STORE RETAIL SALES DECREASED 13.7PCT, 
WHILE 
TOTAL SYSTEM-WIDE RETAIL SALES DECREASED BY 18.8PCT 
 
Source text for Eikon:  ID:nPn2sYc8ca  
Further company coverage:  RAVE.O  
 
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