Positive EBITDA Achieved
The company reported its first quarter of positive EBITDA in several years, reaching $2 million compared to a negative $1.4 million last year.
Improved Operational Efficiencies
Cost and expenses were reduced to $6.5 million from $8 million the previous year, driven by lower G&A costs and other operational efficiencies.
Franchise and Royalty Fees Increase
Franchise and royalty fees increased to $1.7 million from $1.1 million, attributed to more same-store sales and collections of outstanding amounts.
Introduction of New POS System
The rollout of a new POS system to over 100 stores has enhanced decision-making and provided better insights into store performance.
Opening of New Stores and Brand Refresh
New store opened in Charleston, South Carolina, featuring a refreshed brand identity. Construction for a new store in Chicago is expected to begin shortly.