QSR Magazine: Sales Continue to Drop for Rave's Pie Five Pizza Concept

Pie Five Pizza Co. has experienced another less-than-optimal quarter. According to a recent article in QSR Magazine, the Pie Five brand experienced a loss of 13.7 percent in same-store sales during the fourth quarter. The brand was also forced to close several locations throughout 2017, dropping its total unit number down to 80.

"We are diligently pursuing a refranchising strategy at Pie Five. This shift in our model allows us to focus on best-in-class support of our franchise community so that they can, in turn provide a great guest experience," said CEO Scott Crane of parent company Rave.

Despite the hit caused by Pie Five, Rave is experiencing success through the Pizza Inn brand, which increased its same-store sales by 2.7 percent. This growth follows the brand's new express concept, which features a kiosk-based ordering system perfect for airports and convenience stores. 

Crane said, "This new concept allows Pizza Inn to diversify its footprint and is a great way to reach new customers in a faster setting, while still serving the same iconic, quality pizza our guests have come to expect."

Read the full article here.