First Watch Restaurant Group, which owns the daytime breakfast brand, continues to see footfall “intermittent,” but recently introduced technology such as pay-at-the-table to speed up service times. executives said on Tuesday.
The Bradenton, Fla.-based company, which announced financial results for the first quarter ended March 31 on Tuesday, partnered with Up 'n go in mid-March to offer pay-at-the-counter services at more than 420 of its restaurants. Introduced table technology. .
First Watch CEO and President Chris Tomaso said the introduction of pay-at-the-table and a kitchen display system that improves ticket turnaround times by 10% to 20% during peak crowd times. said that it has been leveled. In a recent week, more than 125,000 customers took advantage of the pay-at-table option, saving time for both guests and employees, according to the company.
The payment options at the table are integrated with First Watch's NCR Aloha POS system, executives said. Customers can scan the quick response code (QR code) on their check and pay with Apple Pay, Google Pay, or a credit card. Checks can be paid in full or in installments.
Tomasso said pay-at-the-table technology also increases the amount of customer data available, which the company plans to use for targeted marketing.
“We’re really happy,” he said. “So we're just starting to dig into all the data and leverage it.”
On April 15, after the quarter ended, First Watch acquired 21 units and development rights in the Raleigh, North Carolina area, Tommaso said.
Florida, where First Watch is based and has about 30% of its restaurants, continues to face a “challenging consumer environment,” Tomaso said.
“We believe that the transportation benefits that the state enjoyed in the years following the initial outbreak of COVID-19 are now normalizing,” he said. The coronavirus disease (COVID-19) pandemic was declared in March 2020.
“Our bullish outlook remains unchanged,” Tommaso added. “Our expansion in Florida has taken him to 123 restaurants in the state, a 48% increase over the past five years.”
He added that the brand doesn't rely on discounts to drive traffic, but is mindful of its mix. For example, Tomasso said they recently brought back the popular and high-margin shrimp and grits to the menu.
First Watch's net income for the first quarter ended March 31 was $7.2 million, or 12 cents per share, compared with $9.4 million, or 15 cents per share, in the year-ago period. Revenues increased 14.7% to $242.4 million from his $211.4 million in the same period last year.
Same-restaurant sales increased 0.5% in the quarter, and same-restaurant customer traffic decreased 4.5%.
As of March 31, First Watch had 531 restaurants in 29 states, 432 of which were company-owned. The brand opened nine restaurants in eight states in the first quarter.
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