First Watch Restaurant Group Inc at Barclays Eat, Sleep, Play, Shop Conference Transcript
Thank you.
Good afternoon, everyone. My name is Jeff Bernstein, and I'm the Restaurant and Food Service Distribution Analyst here at Barclays. Hope everyone's staying dry today. Our next presenting company is First Watch. With us on stage from Bradenton, Florida, we have Mel Hope, their CFO.
By way of background for those not familiar, First Watch is a breakfast, brunch, and lunch casual dining chain with 620 or so units across the US with a company ownership mix of roughly 90%. That number continues to inch higher. And they have a current 10% plus annual unit growth rate off of that 620. And management is confident in their long-term guidance for 2,000 US system-wide units. So a long runway to go. But we want to thank First Watch very much for joining us. I have a number of questions for management, but then I will definitely pause. And if there's any questions in the room, I will open it up to the floor.
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