First Watch Restaurant Group's Resilience After Hurricane Milton Impact

Overview of Recent Hurricane Impact

First Watch Restaurant Group, Inc. (NASDAQ: FWRG) has recently addressed the effects of Hurricane Milton on its operations. The compelling update comes as the company navigates the challenges posed by this powerful storm. As adverse weather conditions moved through, the well-being of employees and patrons remained the top priority.

Restaurant Closures and Safety Measures

From October 8 until October 13, a total of 85 Company-owned restaurants were temporarily closed to ensure the safety of employees and to carry out necessary preparations for the storm, which included utility outages and assessments of any damage sustained. By October 14, 77 of these restaurants had successfully reopened their doors, with management actively working on plans to ascertain reopening times for the remaining eight locations.

Leadership's Commitment to Safety

Chris Tomasso, the Chief Executive Officer and President, expressed gratitude for the safety of team members and their families. Their quick response enabled a near-full return to operation, showcasing First Watch's commitment to its staff and community.

Past Hurricane Challenges

In addition to overcoming the impact of Hurricane Milton, First Watch experienced minimal disruption from Hurricane Helene, as less than ten restaurants were closed, and only one faced closures exceeding three days. This reinforces the company's operational resilience in the face of nature's challenges.

Insurance and Damage Assessment

First Watch Restaurant Group maintains exhaustive insurance coverage across all locations, which includes property, flood, and business interruption insurance. The company is currently collaborating with its insurance providers to evaluate the overall implications of the recent storms. This assessment is anticipated to take several weeks, as the company works to determine the extent of coverage applicable to the damages faced.

The Essence of First Watch

First Watch is renowned for its Daytime Dining concept, providing customers with freshly prepared meals that include breakfast, brunch, and lunch offerings. Features of the menu include unique dishes such as the Quinoa Power Bowl and the delightful Lemon Ricotta Pancakes. Receiving accolades for “Best Breakfast” and “Best Brunch,” First Watch has established a strong reputation in the industry.

Acknowledgments and Accolades

The company has recently been recognized as the #1 Most Loved Workplace in America by Newsweek and the Best Practice Institute for 2024, adding to its impressive list of achievements. Previously, in 2023, First Watch topped Yelp’s inaugural list of the most-loved restaurant brands in the United States.

Expanding Reach

With over 535 restaurants spread across 29 states, including a significant presence in Florida, First Watch is steadily expanding its reach. The company is dedicated to delivering quality dining experiences while cultivating goodwill in the communities they serve. As they navigate the challenges posed by natural disasters, they remain committed to upholding exceptional customer service and culinary excellence.

Frequently Asked Questions

What did First Watch do to prepare for Hurricane Milton?

First Watch closed 85 restaurants for safety, storm preparation, and damage assessments to protect employees and customers.

How many restaurants reopened after Hurricane Milton?

By October 14, 77 out of the 85 closed restaurants had reopened.

Has First Watch faced issues in previous hurricanes?

Yes, during Hurricane Helene, less than ten restaurants faced closures with minimal disruption.

What type of insurance does First Watch have?

The company has comprehensive coverage for property, flood, and business interruption, and is working with insurers for an assessment.

How many locations does First Watch currently operate?

First Watch operates over 535 locations throughout 29 states across the U.S.

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