BRADENTON, Fla., Aug. 06, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. ("FWRG" or the "Company") (NASDAQ:FWRG), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced the launch of an underwritten secondary offering (the "Offering") by certain funds managed by Advent International, L.P. (the "Selling Stockholders") of 5,000,000 shares of the Company's common stock ("Common Stock"). The Selling Stockholders will receive all of the proceeds from the Offering. The Company is not selling any shares of Common Stock in the Offering and will not receive any proceeds from the Offering. Barclays and Goldman Sachs & Co. LLC are acting as the

Total revenues increased 19.1%Net income of $2.1 million and Adjusted EBITDA of $30.4 million17 new system-wide restaurants opened in 8 statesRaising 2025 Adjusted EBITDA guidance BRADENTON, Fla., Aug. 05, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today reported financial results for the thirteen weeks ended June 29, 2025 ("Q2 2025"). "We delivered both positive same restaurant traffic growth and same restaurant sales growth in the second quarter, representing three consecutive quarters of sequential improvement," stated Chris Tomasso, CEO and Pres

Beloved coffee brand prepares to expand while staying true to its roots and mission OAKLAND, Calif., Aug. 4, 2025 /PRNewswire/ -- Philz Coffee, a beloved specialty coffee brand known for its personalized, made-to-order drinks and welcoming cafe culture for more than 20 years, has entered into a definitive agreement to be acquired by Freeman Spogli, a strategic growth investor in the consumer services and multi-unit industries. The transaction is expected to close on Aug. 6, 2025. Philz will continue to be led by CEO Mahesh Sadarangani, who first joined Philz in 2021, and the existing leadership team. Philz' management, team members, and customer-centered values remain at the heart of its vi

BRADENTON, Fla., July 22, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced that it plans to release its second quarter 2025 financial results on Tuesday, August 5, 2025, before the market opens. A conference call and webcast will follow at 8:00 AM ET, hosted by Chris Tomasso, Chief Executive Officer and President, and Mel Hope, Chief Financial Officer. Interested parties may listen to the conference call via any one of three options: Dial 201-389-0914, which will be answered by an operatorPre-register by entering your information at this Call

BRADENTON, Fla., May 27, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced it will participate in two June investor conferences: The Company will host a fireside chat at TD Cowen's 9th Annual Future of the Consumer Conference on Tuesday, June 3, 2025 in New York City at 10:15 AM ET. The fireside chat will be webcast live at https://investors.firstwatch.com in the News & Events section and will be archived on the site shortly after it has concluded. Management will host meetings at the conference with institutional investors June 2-3, 2025.The Co

Total revenues increased 16.4%Net loss of $(0.8) million and Adjusted EBITDA of $22.8 million13 new system-wide restaurants opened in 10 states BRADENTON, Fla., May 06, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today reported financial results for the thirteen weeks ended March 30, 2025 ("Q1 2025"). "First quarter same restaurant traffic results are encouraging and continued the trends we experienced exiting 2024, demonstrating both the strength and the resilience of the First Watch brand," said Chris Tomasso, CEO and President of First Watch. "Additio

BRADENTON, Fla., April 28, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) (together with its subsidiaries "First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today completed its previously announced acquisition of 16 of its franchise-owned restaurants and corresponding development rights in North Carolina and South Carolina for an aggregate purchase price of $49 million on a cash-free, debt-free basis. "The acquisition of these 16 locations helps solidify corporate ownership of First Watch restaurants along the East Coast – and provides us with additional territories to grow organically for years to come," sai

BOSTON, April 23, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading daytime restaurant serving breakfast, brunch and lunch, announced it will open its first downtown Boston location in late 2025, marking First Watch's continued expansion in New England. The popular breakfast spot celebrated its entry into Massachusetts earlier this year with the opening of its first greater Boston-area location in Hanover in January. The new restaurant will be located at 777 Boylston St. in the iconic Back Bay neighborhood, bringing First Watch's fresh, chef-driven menu to the heart of the city. "This high-profile location in the heart

BRADENTON, Fla., April 22, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced that it plans to release its first quarter 2025 financial results on Tuesday, May 6, 2025, before the market opens. A conference call and webcast will follow at 8:00 AM ET, hosted by Chris Tomasso, Chief Executive Officer and President, and Mel Hope, Chief Financial Officer. Interested parties may listen to the conference call via any one of three options: Dial 201-389-0914, which will be answered by an operatorPre-register by entering your information at this C

BRADENTON, Fla., April 14, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) (together with its subsidiaries "First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced the acquisition of three of its franchise-owned restaurants and corresponding development rights in Missouri. "We're proud to welcome the Lee's Summit, West Columbia and South Columbia restaurant teams into the First Watch company-owned system," said Chris Tomasso, First Watch CEO and President. "All three of these restaurants opened within the past five years and, in that time, have made strong connections with their surrounding communiti

TD Cowen upgraded First Watch Restaurant Group from Hold to Buy and set a new price target of $22.00

Stephens initiated coverage of First Watch Restaurant Group with a rating of Overweight and set a new price target of $20.00

The Benchmark Company initiated coverage of First Watch Restaurant Group with a rating of Buy and set a new price target of $23.00

Stifel downgraded First Watch Restaurant Group from Buy to Hold and set a new price target of $20.00 from $22.00 previously

Raymond James upgraded First Watch Restaurant Group from Outperform to Strong Buy and set a new price target of $22.00 from $24.00 previously

Piper Sandler initiated coverage of First Watch Restaurant Group with a rating of Overweight and set a new price target of $22.00

Citigroup resumed coverage of First Watch Restaurant Group with a rating of Buy and set a new price target of $17.00 from $22.00 previously

Citigroup upgraded First Watch Restaurant Group from Neutral to Buy and set a new price target of $22.00 from $24.50 previously

Raymond James initiated coverage of First Watch Restaurant Gr with a rating of Outperform and set a new price target of $24.00

Barclays reiterated coverage of First Watch Restaurant Gr with a rating of Overweight and set a new price target of $26.00 from $27.00 previously

Total revenues increased 19.1%Net income of $2.1 million and Adjusted EBITDA of $30.4 million17 new system-wide restaurants opened in 8 statesRaising 2025 Adjusted EBITDA guidance BRADENTON, Fla., Aug. 05, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today reported financial results for the thirteen weeks ended June 29, 2025 ("Q2 2025"). "We delivered both positive same restaurant traffic growth and same restaurant sales growth in the second quarter, representing three consecutive quarters of sequential improvement," stated Chris Tomasso, CEO and Pres

BRADENTON, Fla., July 22, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced that it plans to release its second quarter 2025 financial results on Tuesday, August 5, 2025, before the market opens. A conference call and webcast will follow at 8:00 AM ET, hosted by Chris Tomasso, Chief Executive Officer and President, and Mel Hope, Chief Financial Officer. Interested parties may listen to the conference call via any one of three options: Dial 201-389-0914, which will be answered by an operatorPre-register by entering your information at this Call

Total revenues increased 16.4%Net loss of $(0.8) million and Adjusted EBITDA of $22.8 million13 new system-wide restaurants opened in 10 states BRADENTON, Fla., May 06, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today reported financial results for the thirteen weeks ended March 30, 2025 ("Q1 2025"). "First quarter same restaurant traffic results are encouraging and continued the trends we experienced exiting 2024, demonstrating both the strength and the resilience of the First Watch brand," said Chris Tomasso, CEO and President of First Watch. "Additio

BRADENTON, Fla., April 28, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) (together with its subsidiaries "First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today completed its previously announced acquisition of 16 of its franchise-owned restaurants and corresponding development rights in North Carolina and South Carolina for an aggregate purchase price of $49 million on a cash-free, debt-free basis. "The acquisition of these 16 locations helps solidify corporate ownership of First Watch restaurants along the East Coast – and provides us with additional territories to grow organically for years to come," sai

BRADENTON, Fla., April 22, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced that it plans to release its first quarter 2025 financial results on Tuesday, May 6, 2025, before the market opens. A conference call and webcast will follow at 8:00 AM ET, hosted by Chris Tomasso, Chief Executive Officer and President, and Mel Hope, Chief Financial Officer. Interested parties may listen to the conference call via any one of three options: Dial 201-389-0914, which will be answered by an operatorPre-register by entering your information at this C

BRADENTON, Fla., April 14, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) (together with its subsidiaries "First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced the acquisition of three of its franchise-owned restaurants and corresponding development rights in Missouri. "We're proud to welcome the Lee's Summit, West Columbia and South Columbia restaurant teams into the First Watch company-owned system," said Chris Tomasso, First Watch CEO and President. "All three of these restaurants opened within the past five years and, in that time, have made strong connections with their surrounding communiti

Total revenues of $1.0 billion, up 13.9% and System-wide sales of $1.2 billion, up 7.4%Income from operations margin of 3.9% and Restaurant level operating profit margin of 20.1%Net income of $18.9 million and Adjusted EBITDA of $113.8 million50 system-wide restaurants opened across 19 states BRADENTON, Fla., March 11, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today reported financial results for the thirteen weeks ended December 29, 2024 ("Q4 2024") and the 52-week fiscal year ended December 29, 2024 ("2024") compared to the fourteen weeks ended Decem

BRADENTON, Fla., Feb. 18, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced that it plans to release its fourth quarter and fiscal year 2024 financial results on Tuesday, March 11, 2025, before the market opens. A conference call and webcast will follow at 8:00 AM ET, hosted by Chris Tomasso, Chief Executive Officer and President, and Mel Hope, Chief Financial Officer. Interested parties may listen to the conference call via any one of three options: Dial 201-389-0914, which will be answered by an operatorPre-register by entering your in

Total revenues increased 14.8%Net income of $2.1 million and Adjusted EBITDA growth of 18% to $25.6 million9 new system-wide restaurants opened in 8 states BRADENTON, Fla., Nov. 07, 2024 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today reported financial results for the thirteen weeks ended September 29, 2024 ("Q3 2024"). "We are pleased with our performance in Q3 as it reflects our teams' superb restaurant-level operations, especially considering an uneven consumer backdrop. Traffic picked up through the quarter, our employee

BRADENTON, Fla., Oct. 24, 2024 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced that it plans to release its third quarter 2024 financial results on Thursday, November 7, 2024, before the market opens. A conference call and webcast will follow at 8:00 AM ET, hosted by Chris Tomasso, Chief Executive Officer and President, and Mel Hope, Chief Financial Officer. Interested parties may listen to the conference call via any one of three options: Dial 201-389-0914, which will be answered by an operatorPre-register by entering your information at this Ca

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BRADENTON, Fla., Aug. 22, 2024 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced the appointment of Charles Jemley to its Board of Directors and as Chair of the Audit Committee effective immediately and the appointment of Michael Fleisher to its Board of Directors effective November 1, 2024. "We are pleased to welcome Charley and Michael to our Board of Directors, and we look forward to leaning on their extensive financial management expertise as we continue to scale the First Watch brand," said Ralph Alvarez, Chairman of the Board of Directors of Fi

BRADENTON, Fla., Dec. 06, 2023 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced the appointment of Jostein Solheim to its Board of Directors effective immediately. Solheim is an experienced chief executive officer who currently serves as the CEO, Health & Wellbeing at Unilever PLC. "We are excited to welcome Jostein to the Board of Directors of First Watch, and we look forward to leveraging his extensive marketing and brand management expertise," said Ralph Alvarez, Chairman of the Board of Directors of First Watch. "Jostein is a proven leader

BRADENTON, Fla., July 19, 2023 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced the appointment of Irene Chang Britt to its Board of Directors, effective immediately. Ms. Chang Britt is an experienced independent board director and former Fortune 500 C-suite executive, who currently serves on the boards of established businesses and start-up companies representing a variety of industries, including retail, CPG, e-commerce and lifestyle. "We are thrilled to welcome Irene to the Board of Directors of First Watch, and I'm confident that our company wil

BRADENTON, Fla., Aug. 17, 2022 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept with more than 445 restaurants nationwide, announced today that Ken Pendery, Jr., 68, intends to retire from the Company's Board of Directors effective as of September 1, 2022. Pendery's retirement follows a storied tenure of nearly 40 years with the Company, beginning soon after the Company's founding in 1983 in Pacific Grove, CA when founder John Sullivan recruited Pendery, his colleague, to open the second First Watch restaurant. Together, they set out to create a place based upon their shared vision of what a neighborh

BRADENTON, Fla., June 21, 2022 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept with more than 440 restaurants nationwide, announced today the appointment of Stephanie Lilak, Chief People Officer of Bumble Inc., to its Board of Directors, effective June 17, 2022. Lilak will serve as a member of the Audit Committee and the Compensation Committee of the Board.  "We are pleased to welcome Stephanie Lilak to the First Watch Board," said Ralph Alvarez, chairman of the Board of Directors of First Watch. "Stephanie's deep human resources experience in the food and restaurant industry will be invaluable to Fi

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