BBQ - Here's 1 Stock to Heat Up Your Portfolio for an Excellent Summer Cookout
Whether it's a cookout with friends, a catered gathering, or a quick dash to a favorite restaurant, Americans are sure to be dining out more this summer as pandemic restriction ease. Famous Dave's, from parent company BBQ Holdings (NASDAQ: BBQ) , should benefit from some pent-up desire for a barbecue-style meal. But in certain Famous Dave's locations starting this summer, customers may be greeted by a slightly different service model.
BBQ Holdings -- a line of company-owned and franchisee-owned restaurants -- also owns Granite City Brewery, Clark Crew BBQ, and Chicago's Original Real Urban Barbecue. Much like other restaurant businesses during 2020, pandemic-related closings took a toll on the company's operations. In early 2020, Granite City Brewery was on the verge of filing for Chapter 11 bankruptcy protection. That's when BBQ Holdings stepped in to purchase 25 units of the business.
Back in early March, the first hints of movement within BBQ's go-forward strategy became public, suggesting a potentially big turnaround in business. The first-quarter financials released this month were strong enough that management even raised its outlook for the full year.
For further details see:
Here's 1 Stock to Heat Up Your Portfolio for an Excellent Summer Cookout