Company: BTBDW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001477932-25-006037
Chunk: 43

Company: BT Brands, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 43
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 130,000   1.8 NET LOSS $(274,818)  (3.9)% $(515,652)  (7.1)%

Net Revenues

Net sales for the twenty-six weeks ended June 29, 2025, were $7,010,763, reflecting a decline from $7,300,786 in the same period of 2024. The decrease was principally the result of a decline in sales of approximately $900,000, resulting from the closure of two locations, offset by the inclusion of Schnitzel Haus for the entire 26-week period in 2025. Burger Time unit sales for the 26 weeks ranged in gross sales from approximately a low of $250,000 to a high of $628,000. The average sales for each Burger Time location open during the 26-week period in both years was approximately $448,000, a decline from $465,000 in 2024.

Costs and Expenses-

Food and Paper Costs

Food and paper costs decreased to 34.9% of sales (or $2,449,549) compared to 39.0% ($2,844,028) for the prior year. This decrease reflects the benefits of menu pricing strategies, improved purchasing, and cost control efforts.

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Labor Costs

Labor and benefits costs were 37.0% of sales ($2,592,500) in 2025, down from 40.2% ($2,938,448) in 2024. The improvement was due to better labor cost management, operational efficiencies, and the closure of higher-cost locations.

Occupancy Costs

Occupancy costs declined to 8.7% of sales ($611,715) from 9.3% ($680,631) in 2024. This reduction reflects the benefit associated with closing the Village Bier Garten, which had a high occupancy cost.

Other Operating Expenses

Other operating expenses decreased to 6.3% of sales ($441,105), compared to 5.7% ($415,738) in the prior year. The increase resulted from fees associated with greater utilization of third-party delivery services and higher utility costs at most restaurants.

Depreciation and Amortization

Depreciation and amortization expense decreased to 4.3% of sales ($301,120) from 4.5% ($331,893) in 2024. The decrease primarily reflects more assets