Latest news with #OnTheBorder
Yahoo
24-05-2025
- Health
- Yahoo
Seven restaurants closed, rodents found in latest Fort Worth inspections
Seven Fort Worth restaurants were closed and rodents and roaches were found at several others during the city's latest round of health inspections, according to the inspection report. The report compiled by the Star-Telegram includes data from May 4 through May 17 and 402 inspections. Fort Worth's restaurant inspections function on a demerit system: Zero demerits is considered a perfect score. Restaurants with over 30 demerits are required to fix the worst issues immediately and remedy the rest within 48 hours. Seven restaurants were closed because of serious health violations: Chuys Restaurant, 4441 River Oaks Blvd., had a score of 27 and was closed because of unsafe temperatures in the restaurant's cold storage units. Muchacho Alegre, 2250 Jacksboro Highway, had a score of 19 and was closed because of observable roaches near the stove and issues with water temperature. Robinson Barbeque, 1028 E. Berry St., had a score of 15 and was closed because of a lack of electricity and water service, as well as issues with rodents. The establishment has been closed for six months, according to the report. On The Border, 6536 NW Loop 820, had a score of 13 and was closed because of issues with wastewater draining. Ridgmar Medical Lodge, 6600 Lands End Court, had a score of 12 and was closed because of a roach infestation. Hilton Garden Inn, 2600 Westport Parkway, had a score of 11 and was closed because of issues with hot water. Little Lilly Sushi, 6100 Camp Bowie Blvd., had a score of 19 and closed voluntarily to clean and get pest control. Four restaurants had scores of over 30 demerits: The Rim, located at 5912 Convair Drive, had a score of 34 Taqueria Tepito, located at 1510 Northwest 28th Street, had a score of 33 Dos Juanito's Mexican Food, located at 1950 Hemphill Street, had a score of 32 Don Pancho Tortilleria & Taqueria, located at 5159 Wichita Street, had a score of 31 Some data analysis in this story was conducted using AI. For more information on how the Star-Telegram and McClatchy newsrooms are using AI, go here. Here are the inspection scores and violations for restaurants within the city limits of Fort Worth for May 4th - May 17th, 2025. Scores are based on a demerit system. When the total exceeds 30, the restaurant must take immediate corrective action on all identified critical violations, then has 48 hours to initiate corrective action on all other violations. To search the restaurant inspections, type in a keyword or restaurant name. You can also sort by score. Steve Wilson swilson@
Yahoo
15-05-2025
- Business
- Yahoo
UTZ Q1 Earnings Call: Bonus Packs Drive Growth, Boulder Canyon Expands Distribution
Snack food company Utz Brands (NYSE:UTZ) announced better-than-expected revenue in Q1 CY2025, with sales up 1.6% year on year to $352.1 million. Its non-GAAP profit of $0.16 per share was in line with analysts' consensus estimates. Is now the time to buy UTZ? Find out in our full research report (it's free). Revenue: $352.1 million vs analyst estimates of $350.2 million (1.6% year-on-year growth, 0.6% beat) Adjusted EPS: $0.16 vs analyst estimates of $0.15 (in line) Adjusted EBITDA: $64.51 million vs analyst estimates of $44.79 million (18.3% margin, 44% beat) Operating Margin: 1.6%, down from 2.8% in the same quarter last year Free Cash Flow was -$59.01 million compared to -$22.7 million in the same quarter last year Organic Revenue rose 2.9% year on year (1.5% in the same quarter last year) Market Capitalization: $1.09 billion Utz's first quarter results reflected the impact of targeted promotional strategies and channel expansion, as management focused on leveraging bonus pack promotions and expanding distribution in both core and new geographies. CEO Howard Friedman emphasized that strong performance in untracked channels, such as the natural and discount segments, was supported by improved operations at the new Rice distribution center, which consolidated several warehouses and enhanced shipment efficiency. Looking ahead, Utz's leadership pointed to innovation and further distribution gains as key elements of their forward strategy. Friedman acknowledged that the bonus pack program was a temporary value offering and will wind down as the company shifts focus toward innovation, marketing, and maintaining fair pricing. He noted, 'We will continue to look at ways to address value as we go forward,' signaling flexibility in response to consumer and competitive trends. Utz's management highlighted several business drivers and strategic moves affecting Q1 performance, while addressing the evolving consumer landscape and competitive environment. Untracked channel momentum: The company experienced substantial growth in natural, discount, and club channels, which are not fully captured in traditional retail data. This expansion was aided by streamlined operations at the Rice distribution center, improving shipment timing and throughput. Bonus pack promotions: Volume share gains in core geographies were driven by the limited-time bonus pack initiative, which provided added value to consumers while serving as a trial mechanism in new expansion markets. Management confirmed the program will wind down as summer approaches. Boulder Canyon brand expansion: Boulder Canyon continued to perform well, benefiting from increased distribution and new product launches such as Canyon Poppers and a wavy chip line. Management reported that both distribution and velocity (sales per point of distribution) increased, particularly in the natural channel. On The Border innovation: The On The Border brand saw further growth through expanded flavored tortilla chip offerings and additional distribution, with management identifying further white space for new products and formats. Channel diversification and consumer behavior: Utz observed resilient demand from value-seeking consumers across premium and value product lines. Management attributed this to a combination of targeted merchandising, product innovation, and adapting to shifting consumer preferences in both mainstream and value channels. Management's outlook for the coming quarters centers on innovation, distribution expansion, and adapting to consumer value-seeking trends, while navigating increased competition and evolving category dynamics. Innovation and product launches: The company plans to emphasize new product development, particularly within Boulder Canyon and On The Border, aiming to capture incremental growth as consumer interest in natural and flavored snacks rises. Distribution gains in core and new markets: Continued expansion into underpenetrated markets and increased presence in conventional grocery and natural channels are expected to support revenue growth, with management citing significant remaining white space. Shift from promotional to marketing investment: As the bonus pack promotion winds down, Utz will refocus on marketing and innovation to drive volume and maintain pricing discipline, acknowledging potential risks if consumer value preferences or competitive dynamics shift unexpectedly. Andrew Lazar (Barclays): Asked about the discrepancy between flat retail sales and reported organic growth; management cited strong results in untracked channels and clarified revenue recognition timing, indicating there was no pull-forward. Peter Galbo (Bank of America): Inquired about the impact of bonus pack promotions on price and volume; CFO Ajay Kataria confirmed most price investment was linked to bonus packs, with limited ongoing price cap investments. Michael Lavery (Piper Sandler): Sought insight on growth expectations for non-branded and partner brands; management stated partner brands are expected to decline gradually as Utz-branded products increase their share on distribution routes. Jim Salera (Stephens Inc.): Asked about household overlap between premium Boulder Canyon and value-oriented Utz brands; CEO Howard Friedman explained Boulder Canyon skews toward affluent, health-oriented consumers while Utz targets mainstream households, with some expected overlap. Scott Marks (Jefferies): Questioned whether bonus pack-driven share gains could continue if consumer sentiment weakens; management reiterated willingness to revisit the program as needed but stressed innovation and marketing as primary drivers moving forward. In the coming quarters, the StockStory team will be monitoring (1) the impact of winding down bonus pack promotions on volume and pricing mix, (2) Boulder Canyon's progress in gaining shelf space and consumer traction across new channels, and (3) the effectiveness of innovation and marketing initiatives as Utz shifts away from promotional-driven growth. Sustained gains in distribution and household penetration will be critical markers of execution. Utz currently trades at a forward P/E ratio of 14.4×. In the wake of earnings, is it a buy or sell? Find out in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Miami Herald
11-05-2025
- Business
- Miami Herald
Struggling national Mexican chain closes locations, gets new life
In the restaurant business, situations can fall apart quickly. Since the business has such small margins in the first place, even a small downturn can turn a profit into a loss. That can happen for a number of reasons. Consumers may simply eat out less because they're worried about the economy. They may also trade down and opt for a restaurant one (or more) levels cheaper. Related: Popular whiskey brand files Chapter 11 bankruptcy A steak person can become a burger person or a "something even cheaper" person when their budget does not easily cover their higher-end tastes. Some people, of course, are just being cautious, while others are facing up to realities of their personal financial situation. Restaurants are also vulnerable to other aspects of the economy. If labor costs increase, which they generally have, then that puts stress on the bottom line. The same thing is true when it comes to ingredients and other costs. Don't miss the move: SIGN UP for TheStreet's FREE Daily newsletter Of course, sometimes a restaurant fails because it loses customers. Maybe a new competitor takes market share, or perhaps overall tastes change. In reality, it's usually a combination of multiple things that drags a restaurant down. Sometimes, however, salvation comes after failure, and a new owner might be enough to fix a chain that looked to be on its last legs. At the time of its March 5 Chapter 11 bankruptcy filing, On The Border shared this description of itself in its court filing. "Founded in Dallas, Texas in 1982, On The Border is known for its sizzling mesquite-grilled fajitas, award-winning margaritas, house-made salsa and endless chips and salsa. In the past 40 years, On The Border has steadily grown over time from a single cantina to one of the country's most well-known domestic and international Tex-Mex restaurant chains offering affordable, consistent, cultivated delicious menu items featuring bold flavors from Texas and Mexico." The chain had already closed 77 locations prior to the bankruptcy filing, but had been shrinking. In the document, the company tried to explain its market edge. "On The Border leverages its unique, authentic brand to differentiate itself from others in the casual dining sector. As of the Petition Date, the Debtors continue to operate 60 (60) restaurant locations across eighteen (18) states. All sixty (60) of the Debtors' corporate-operated restaurant locations are leased. In addition to the restaurants operated by the Debtors," it shared. The chain also has 20 additional franchised restaurants in the U.S. and South Korea. More bankruptcies: Popular restaurant and bar chain files for Chapter 11 bankruptcyPopular athletic shoe chain files for Chapter 11 bankruptcyAward-winning cosmetics brand files for Chapter 11 bankruptcy Closed locations span 24 states including Arizona, Arkansas, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Texas, and Virginia. A key part of the Chapter 11 bankruptcy filing was about getting out of the leases at the locations it no longer occupied. On The Border entered bankruptcy by taking $10 million in Debtor-in-Possession financing with OTB Lender, LLC, an affiliate of Pappas Restaurants, to fund the Chapter 11 process. That was always meant to be the first step toward Pappas taking over the struggling Tex-Mex chain. "Additionally, the Company anticipates entering into an asset purchase agreement with an affiliate of OTB Lender, LLC shortly after the commencement of the Chapter 11 cases," it shared in the court filing. A higher bid could have emerged, but that's not what happened. Pappas shared that it had won the rights to the On The Border Brand in a May 7 press release. "This acquisition will bring together two iconic Texas-based restaurant brands and expand Pappas' presence in the Tex-Mex category by adding a nationally recognized concept that offers bold flavors at an accessible price point," it shared. The new owner sees it a purchase that makes sense, given its existing portfolio. "On The Border's value-driven approach complements Pappasito's Cantina, known for its fresh ingredients, sizzling fajitas, hand-shaken margaritas, and high-energy atmosphere. Together, the brands will allow Pappas Restaurants to serve a wider range of guests across more markets," Pappas shared. Related: Anheuser-Busch brings back cult favorite beer The new owner has not shared whether it plans to close any more locations. Based in Houston, Texas, Pappas Restaurants is a family-owned and operated restaurant group with a portfolio of iconic brands, including Pappadeaux Seafood Kitchen, Pappasito's Cantina, Pappas Bar-B-Q, and Pappas Bros. Steakhouse. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
10-05-2025
- Business
- Miami Herald
Popular Tex-Mex Chain's Fate Revealed After Bankruptcy Filing
On the Border's fate following the popular eatery's bankruptcy declaration has finally been revealed. Pending court approval, Pappas Restaurants-which operates Pappadeaux Seafood Kitchen, Pappasito's Cantina, Pappas Bar-B-Q and Pappas Bros. Steakhouse-has been selected to acquire the flailing chain of Tex-Mex restaurants, the restaurant group has announced. "We're excited to welcome On The Border to the Pappas family," Mike Rizzo, CEO of Pappas Restaurants, said in a statement. "On The Border is a brand with deep heritage and loyal guests, and we see tremendous opportunity to invest in its future. Our shared Texas roots and passion for hospitality make this a natural fit." It sounds like Pappas plans to maintain On the Border's original iconic and recognizable branding, with plans to "strengthen and modernize" On The Border locations" existing locations, with the announcement promising that "Pappas Restaurants will explore ways to enhance On The Border's menu, operations, and guest experience while honoring the brand's history and fan-favorite offerings." "On The Border has always stood out for its energy and bold flavors-it's a brand we've known and respected for years," Chris Pappas, co-owner of Pappas Restaurants, added. "This gives us the chance to bring our passion for Tex-Mex to more guests, and we're excited to build on what makes both brands special." The Atlanta-based Mexican grill & cantina filed for bankruptcy protections back in March, citing "inflation" and "changing customer behavior" as causes of the impending bankruptcy filing. Before that original protection request, the chain had already closed 40 locations, with 60 remaining across 18 states, plus 20 additional franchisee locations in the United States and South Korea. That's down from 150 locations at its peak. Next: American McDonald's Fans Can't Decide if They're 'Jealous' or 'Disgusted' Over International McFlurry Release Copyright 2025 The Arena Group, Inc. All Rights Reserved
USA Today
09-05-2025
- Business
- USA Today
Pappas Restaurants to buy bankrupt On The Border Mexican Grill: 'A natural fit'
Pappas Restaurants to buy bankrupt On The Border Mexican Grill: 'A natural fit' Show Caption Hide Caption Despite filing for bankruptcy, Hooters vows to stay open Hooters, the restaurant chain known for its wings and all-female waitstaff in signature orange uniforms, has filed for Chapter 11 bankruptcy. Despite the filing, the brand insists it's not going anywhere. unbranded - Newsworthy The party might not be over for On The Border Mexican Grill & Cantina. On May 7, Texas-based Pappas Restaurants announced that it had won the auction, subject to court approval, to buy the bankrupt restaurant in the coming weeks. "We're excited to welcome On The Border to the Pappas family," Mike Rizzo, CEO of Pappas Restaurants, said in a news release. "On The Border is a brand with deep heritage and loyal guests, and we see tremendous opportunity to invest in its future. Our shared Texas roots and passion for hospitality make this a natural fit." Back in March, On The Border (OTB) filed for Chapter 11 bankruptcy, citing difficult economic conditions, labor shortages, underperforming restaurants and creditor enforcement actions. OTB Holdings Chief Restructuring Officer, Jonathan Tibus, said the company had been affected by "macroeconomic factors." "On The Border has been weighed down in recent years by macroeconomic factors that have negatively impacted the Company. Casual dining restaurants are acutely impacted by consumer sensitivities to eating out versus staying in," Tibus said in court records obtained by USA TODAY. Tibus added that the company, along with debtors, decided in late February to close 40 "non-performing" stores. Pappas expands holdings With On The Border Mexican Grill & Cantina being bought out by Pappas Restaurants, it will join Pappadeaux Seafood Kitchen, Pappasito's Cantina, Pappas Bar-B-Q and Pappas Bros. Steakhouse as part of the restaurant's holdings. "On The Border has always stood out for its energy and bold flavors—it's a brand we've known and respected for years," Chris Pappas, co-owner of Pappas Restaurants, said. "This gives us the chance to bring our passion for Tex-Mex to more guests, and we're excited to build on what makes both brands special." Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at and follow him on X @fern_cerv_.
