Volatile Free Cash Flow GrowthIrregular free cash flow undermines predictable funding for new openings, franchise support, dividends, or debt reduction. Past negative FCF periods followed by a jump create uncertainty about the company's ability to consistently generate distributable cash, complicating long-term planning.
Compression In Operating MarginsDeclining EBIT/EBITDA margins suggest rising operating costs or less efficient store performance. If structural (labor, rents, supply chain), sustained margin compression will limit reinvestment, reduce franchise economics, and erode resilience to adverse demand cycles over the next several quarters.
Limited Public Disclosures And EventsA lack of investor-facing events and earnings call detail reduces transparency about strategy, unit economics and growth cadence. Persistent limited disclosure makes it harder for stakeholders to assess management execution and the durability of expansion plans, increasing governance and execution risk.