BRADENTON, Fla., Jan. 13, 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 certain preliminary operational metrics for the thirteen weeks ended December 29, 2024 ("fourth quarter") and fiscal year ended December 29, 2024 ("2024"). "We delivered on our fourth quarter target of 25 new restaurant openings, including 23 Company-owned sites. Furthermore, fourth quarter same restaurant sales and traffic growth were at the upper end of our expected range," said Chris Tomasso, First Watch CEO and President. "In 2025, we plan to build on our leading posi

BRADENTON, Fla., Jan. 07, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. ("First Watch" or the "Company") (NASDAQ:FWRG), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced that Chris Tomasso, Chief Executive Officer and President, and Mel Hope, Chief Financial Officer, will participate in two upcoming conferences: The Company will host a fireside chat at the 27th Annual ICR Conference on Jan. 14, 2025 at 10:00 AM ET. The fireside chat will be available 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 institu

BRADENTON, Fla., Nov. 12, 2024 (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 pricing of its previously announced underwritten secondary offering (the "Offering") by certain funds managed by Advent International, L.P. (the "Selling Stockholders") of 8,000,000 shares of the Company's common stock ("Common Stock"). The shares have been offered at a price to the public of $19.95 per share. The Offering is expected to close on November 13, 2024, subject to customary closing conditions. The underwriter has a 30-day option to purchase up to an additional

BRADENTON, Fla., Nov. 12, 2024 (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 8,000,000 shares of the Company's common stock ("Common Stock"). The underwriter has a 30-day option to purchase up to an additional 1,200,000 shares of Common Stock at the public offering price, less underwriting discounts and commissions. The Selling Stockholders will receive all of the proceeds from the Offering. The Compan

BRADENTON, Fla., Nov. 11, 2024 (GLOBE NEWSWIRE) -- A little kindness goes a long way, and First Watch Restaurant Group, Inc. (NASDAQ:FWRG) (together with its subsidiaries "First Watch" or the "Company") – the leading daytime dining concept specializing in breakfast, brunch and lunch – is spreading the joy this year for World Kindness Day. On Wednesday, November 13, First Watch is giving away more than 15,000 cinnamon rolls for customers to "pay forward" as a random act of kindness in their communities. The first 50 dine-in guests at each participating location will receive a free Stay Golden Cinnamon Roll* packaged to-go when they use the word "kindness." "World Kindness Day is a reminder

BRADENTON, Fla., Nov. 11, 2024 (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 it has agreed to acquire 15 of its franchise-owned restaurants, one restaurant currently under construction 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, subject to certain customary adjustments. The restaurant currently under construction is expected to open prior to the closing of the transaction. "Strategic acquisitions of franchis

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

BRADENTON, Fla., Oct. 14, 2024 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ:FWRG) ("First Watch" or the "Company") provides the following information regarding Hurricane Milton. From October 8, 2024 through October 13, 2024, 85 Company-owned restaurants in Hurricane Milton's path were closed at least one business day for employee safety, storm preparation, utility outage, damage assessment and re-stocking. By Monday, October 14th, 77 of those restaurants had been reopened. Management is ascertaining the reopening timetable for the remaining 8 affected restaurants. Chief Executive Officer and President, Chris Tomasso, said, "We are grateful that our team memb

BRADENTON, Fla., Oct. 02, 2024 (GLOBE NEWSWIRE) -- First Watch, the leading Daytime Dining restaurant serving breakfast, brunch and lunch, has been named the #1 Most Loved Workplace® in America by Newsweek and the Best Practice Institute. This is the third consecutive year First Watch has been recognized on the list—a demonstration of the company's focus on championing its "You First" culture for its more than 14,000 employees. "To be named the ‘Most Loved Workplace' in America is an incredible honor, because it's all about our employees, and they mean the world to us," said Laura Sorensen, Chief People Officer. "At First Watch, our people are our purpose, which is why we continue to in

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SC 13G - First Watch Restaurant Group, Inc. (0001789940) (Subject)

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

Stifel initiated coverage of First Watch Restaurant Gr with a rating of Buy and set a new price target of $25.00

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

Total revenues increased 19.5% Income from operations margin improved 110 basis points and Restaurant level operating profit margin improved 100 basis points Net income increased 12% to $8.9 million and Adjusted EBITDA increased 37% to $35.3 million 7 new system-wide restaurants opened across 6 states BRADENTON, Fla., Aug. 06, 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 June 30, 2024 ("Q2 2024"). "We are pleased with our second quarter results and proud of our teams for delivering exceptio

BRADENTON, Fla., July 23, 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 second quarter 2024 financial results on Tuesday, August 6, 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 Call

Total revenues increased 14.7%; same-restaurant sales growth of 0.5%*Income from operations margin of 5.1% and restaurant level operating profit margin of 20.8%Net income of $7.2 million and Adjusted EBITDA of $28.6 million9 system-wide restaurants opened across 8 states BRADENTON, Fla., May 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 March 31, 2024 ("Q1 2024"). "First Watch posted another solid quarter with positive same restaurant sales*, traffic trends that improved sequentially

BRADENTON, Fla., April 23, 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 first quarter 2024 financial results on Tuesday, May 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 Call Me

BRADENTON, Fla., April 15, 2024 (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 completion of its previously-announced acquisition of 21 of its franchise-owned restaurants and corresponding development rights in North Carolina for an aggregate purchase price of $75 million on a cash-free, debt-free basis. "This acquisition, which represents our largest First Watch franchise acquisition to date, is an important part of our long-term growth and value creation strategy," said Chris Tomasso, First Watch CEO & Presiden

Total revenues of $891.6 million, up 22.1% and System-wide sales of $1.1 billion, up 20.6%Same-restaurant sales growth of 7.6%* with positive same-restaurant traffic growthIncome from operations margin of 4.7% and Restaurant level operating profit margin of 20.0%Net income of $25.4 million and Adjusted EBITDA of $99.5 million51 system-wide restaurants opened across 19 states BRADENTON, Fla., March 05, 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 fourteen weeks ended December 31, 2023 ("Q4 2023") and the 53-week fisc

Conference call and webcast to be held the same day at 8:00 AM ET Company to participate at three March institutional investors conferences BRADENTON, Fla., Feb. 20, 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 fourth quarter and fiscal year 2023 financial results on Tuesday, March 5, 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

Same-restaurant sales growth of 4.8% and total revenue growth of 17.3% Income from operations margin of 3.6% and Restaurant level operating profit margin of 18.7% Net income of $5.4 million and Adjusted EBITDA of $21.6 million 13 system-wide restaurants opened across 10 states Raising 2023 same-restaurant sales growth, total revenue growth and Adjusted EBITDA guidance BRADENTON, Fla., Nov. 01, 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 reported financial results for the thirteen weeks ended September 24, 2023 ("Q3 2023") and updates its fiscal yea

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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