Risk Factors Update Summary
- Experienced a 37% growth in catering business from 2022 to 2023.
- Reduced new restaurant growth from 18 in 2023 to 10-12 in 2024 due to lower returns.
- Increased stock-based compensation expense in 2023 due to GM equity program changes.
- Reduced outstanding shares of Class A common stock from 46,040,989 to 44,427,714.
- Increased borrowing rates due to an amendment in the credit agreement in 2023.
- Expect an annual unit growth rate of 1-3% in the next few years.
- Increased focus on off-premise dining opportunities and drive-thru windows in new restaurants.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1275158&owner=exclude
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