By Exec Edge Editorial Staff
First Watch Restaurant Group, Inc. (NASDAQ: FWRG) said revenue increased 21.5% to $730.2 million in 2022.
The daytime dining chain serving breakfast, brunch and lunch opened 43 restaurants across 16 states resulting in a total of 474 restaurants across 29 states, it said in a statement.
Revenue increased 14.2% to $185.7 million in the fourth quarter, it said.
“We’re off to an encouraging start to 2023, with same-restaurant sales and traffic growth of 15.7% and 8.5%, respectively through the first two periods of the quarter,” said Chris Tomasso, First Watch CEO and President. “2023 also marks our 40th operating year and I’m not only proud of all First Watch has accomplished since we opened our doors in 1983, but optimistic about what we are poised to achieve.”
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