Rave Restaurant reports Q3 EPS 5c vs 4c last year

Reports Q3 revenue $2.966M vs $2.962M last year. “Quarter Three represented our 20th consecutive quarter of profitability as we continue to deliver profitable operating results,” said Brandon Solano, Chief Executive Officer of RAVE Restaurant (RAVE) Group. “New marketing and existing strategic initiatives delivered both a strong top and bottom line in quarter three,” continued Solano. “During the third quarter, we tested a new value driven promotion called I$8 at Pizza Inn, or as spoken ‘I ate at Pizza Inn’. The offer allows guests to dine at our buffets for $8.00 all day on weekdays. To date, we have introduced the promotion to two stores supported by an aggressive marketing campaign and have seen year-over-year sales increases of over twenty percent. We will roll the promotion accompanied by media out to twelve additional lower to mid volume buffet stores in quarter four.”