Company: BTBDW
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001477932-25-008407
Chunk: 45

Company: BT Brands, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 2
Chunk 45
---
.4% decrease from 2024, mainly due to two store closures. ·Net income for the 13 weeks improved to $914,975 from a loss of $219,479 in 2024. ·Restaurant-level EBITDA for the quarter improved to 21.3% of revenues from 10.9% in 2024. ·Labor costs for the 39 weeks fell to 35.7% of sales from 39.8% in 2024, reflecting improved staffing efficiency and store closures. ·Total costs and expenses decreased significantly due to disciplined cost control, offsetting a decline in sales. ·For the 39 weeks, income from operations, excluding the asset sales, improved to $125,494 from a loss of $863,695 in 2024, driven by operational efficiencies and the closing of two underperforming locations. ·The sale of the Richmond property resulted in a $288,731 gain during the third quarter, which is included in the gain on sale of assets. ·Strong focus on cost control, improved pricing strategies, and the impact of strategic closures contributed to improved margins. ·The Company plans to continue leveraging seasonal strength, cost reductions, and targeted sales initiatives.

Results of Operations for the Thirteen Weeks Ended September 28, 2025, and the Thirteen Weeks Ended September 29, 2024

Summary

The Company’s focus on operational efficiencies, disciplined expense management, and strategic closures of underperforming locations has resulted in improved margins and improved results despite lower sales volumes. Continued cost management and leveraging seasonal strengths are expected to be a central focus of management in future quarters. For the thirteen weeks ending September 28, 2025, net sales were $3.36 million, a decrease of $495,142 or 11.4% compared to $4.35 million for the same period in 2024. The decline, in part, reflects the closure of the Village Bier Garten and the Ham Lake Burger Time location in the first quarter of 2025. Total costs and expenses, excluding the impact of asset sales, decreased to $3.36 million from $4.39 million in the prior year. Income from operations improved significantly to $735,042, compared to a loss of $75,011 in 2024. After including investment gains, interest, and equity losses, including a write-down of the Company’s NGI investment of $304,000, the Company recorded net income