ARKR - Earnings call transcript Q4 2020

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Operator

Greetings. Welcome to the Ark Restaurants' Fourth Quarter 2020 Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. call recorded. conference this note, is being Please I host, Sonal turn the to your conference over Shah. will now

You may begin.

Sonal Shah

Thank those Operating you, fourth Weinstein, is on Sonal Restaurants. our Vinny October issued For To operator. obtained is our to Officer; financial With joining CEO; you XXXX. our newswires Financial Shah, who our that conference yet Officer; for Good X, www.arkrestaurants.com. our Chief our the Counsel Pascal, call at our Chairman review morning, and homepage and me Sirica, and I'm not and of a for of associated text of tables, press press have name on Michael Anthony please website. the yesterday, My fiscal and full General ended thank quarter on available release, Chief is over you release, go Ark of the us the today copy along call it was the with

operating like the statements future over and everyone of therefore, statements I'd morning the refer performance on should turn and them. our with forward-looking detailed our include and however, part reliance the begin, and not Securities be Commission now our placed We guarantees financial Michael. will I'll call for are of to risks results, to not discussion that undue direct that statement. on a bearing filings the we Exchange Safe condition. I discussion more a that to everyone read to performance, may have Before this remind need of Harbor these

Michael Weinstein

everybody. Hi,

pretty various open to place. Florida, are outdoors, shortened Florida include good the pandemic. revenue some closer hours from given most -- if County, a all restaurants has they And XX% as it's still country, our us week, volume indoors, restrictions are been take a we any I occupancy, properties at probably the each are from or XX% given so times, but by revenue from took So reopen, in conditions. to discuss down occupancy of would pre-COVID the of coming though experiencing included, you allowed Florida spacing, in pretty Broward when consistently and restrictions we're June XX% even in that But whole much levels part together, guess these

because recently. was which things put be number looking the in of were but Vegas We're that any a season but well our you dining activity. slowest people on we And and social season, idea generating to So Florida clientele. good is disappointed has of to doing that And in in portion we casinos rooms somewhat the a prior have that has exceeding which The location, older thing they we Alabama tends available. they restaurants restaurants seemed JB’s that indoor guidelines for replaces volumes of Vegas, restrictions, significant Gulf if JB’s, done on in other Alabama been beach summer would and have to are be alternative, at it's just to good. quite that had abandoned an XX% I flow. were volumes the the curbside the indoor in Shores an are both eating lifted in Again, the on say we during to of very have only been cash a of once cap do. a its Las operating think business we still until the spectacular under cafes. but of is in were for now year, when pickup Alabama they’re -- out, curbside but we busy. little even our XX% delivery, part historically, can right just dining, has outdoor Vegas

there's has our again, there. I'm was more demand it's so hurt half slow a much three ago. sure more -- weeks period. in So million for $X season. dramatically But not what It's or weeks picks of especially that business demand four to it up, comes than with been volume Christmas of Day Once period. achieve XX% we not used this capacity and than these again restrictions. in very room We're to right have that going

They this cash which So terrible. will Vegas, sure negative couple some Washington, doing get it of We I'm there. little out had cash period, flow some once now is our as of outdoor bit, will end indoor be year which closed at the days slowest went D.C., Sequoia, at generating were were week. part decent Sequoia. We XXX revenue. doing from this been of were But flow not well fully dining ago, in we summer three is well. the a week closed seats. improve throughout of a of we has

doesn't thing January So whole the are we lift we'll keep but the the work. had to it some outdoor closing XX. mild tried weather. temporarily goal week, be open economically We the restrictions lifted. the restrictions The And this is of to mayor until

York money, the outdoor Bryant with restaurant seats. York, Park’s losing single even was cafe every New summer, New throughout we had

Bryant no Park, this even were There So restaurants, revenue. be used we there Sequoia, and was our distancing New replace rent get just equation social the can't ROBERT impossible of over makes events, York, sense. in whole up to literally at -- to load it XX% summer. Volume payroll to bigger customers Bryant throughout on the makes that and thing Park with it what

what do occupancy crowd XX% do. we So to. outdoor actually at We used XX% outdoor XX%, it ROBERT hit. week. were used period the was ROBERT XX%, to used what last well lose best throughout with do. space, money. restricted closing was didn't landlord to did The breakeven. to the indoor fairly It outdoor us certain outdoor closest Rio again, New indoor of allowed doing our York Rio And we is there had are before summer, area now closed outdoor El what which no XX% Grande. Bryant be seats hard did could didn’t Park, But available of no what inclement to for dining any onto There but walk the we'll seating. with Clyde’s, of XX%, during and us. El any landlord Grande, really used weather, do. expand we it sort story, have same cash dining the seating we closed seats, to

out in one Las Alabama and -- of D.C. Vegas, with New is We're Park, in out So right revenue restricted essentially business business Bryant in at we're of in Florida which we’re now, dramatically York, exception are okay. Washington,

why abatement Bryant we Well, at landlord we're go have during lease landlord. to Park at XX, to now and question, the that renegotiate a some We're the was help us going that ask open. are trying open may the all? to obviously rent. be back a You -- we and March February need rent period until the There through to to up January, and we're of December requires going

call a have scheduled. We

and staggered given started was the salaried to does say terms on as flow overhead I management anybody had revenue What back, allowed the June time of So million we anybody where pats XX% from $X.X flow on from a the some whole most is we cash make can week. down most people, million. employees, not -- X,XXX was but best it closed to $XX of cash which want that period in period mean corporate we're is down when -- our that make of If was should. us the that There -- less is on flow, restaurant the of at March have necessary, reopening, of positive was salary of who had the the a staff landlords backs the they in could restaurants? company, and and to it's a restaurants taken managers when was a everything than breaks $X,XXX sort our in rent we cash

cases, XX% down than salaries in far more had you by most So that and in cases; XX%. some went

As opened, on but part most used are more we be to what they to of people people XX%. the about XX%, earn, aggressive back restaurants giving started

explained think in I press that's well release. the

We've exception Inn rents Florida we we we on limit putting was the the We all barge one out that complete So canal we've We’ve with Rustic to thing in had of rents. our at restaurants. started. in that reduced mostly payroll. abated reduced where improvements were capital do new everything when a whole the office at done expenses can this

it to replace old chose we and finish the So barge.

the So to when pickup. our begin do, to Yes. do that slowly same forward? their June that's with as that the hard. say, flow try all it's We in but sort We quarter. lives, The assets. feel used rents can restaurants they about as of to pay-in-full well-positioned, rolls are restaurants are rents think rents to we realize We'll projected future. relation going are -- payrolls, it's can and out, hard, we’ll recover even have the they start to think we we volumes as we're with in vaccine be these optimistic full people to reasonable the our landlords Do cash positive optimism -- that work pay the we’d good that we volume

legislation seconds is good. our explain balance new call it money. to to regard that the with the PPP over was by to Our for a Anthony what proposed sheet with going Congress, means to few I'm to us turn

to where we our balance don't terms are and think about, into being go please, able So in Anthony, this sustain effort? that why of you us and tell sheet we

Anthony Sirica

Sure.

There’s on difficult a Okay. can to someone It’s the their that a has they mute phone. lot of the phone. little if noise, line on background hear

of couple things. a So,

$XXX,XXX. notes cash with We some As Moon on of do of of the years barge restaurant had price The Company Obviously, some reduction interest. debt Blue made in Florida was year-end, million X% the cash. balance payments and with of $XX.X $X.X change installed losses. have $XX to our had million and our about to in notes had we and $X purchase million for over we there We at principal another about get operational. acquired in We CapEx the currently four facilities called has cash. Fish million to payable

consists $XX million, debt revolving to $XX years. in million credit of $XX over term purchases million lender, to of facility Our notes restaurants or our includes is a and last which five $XX related four of million the which

is million loans. The PPP other the $XX

we discussed filings, $XX prior received have we approximately in As million.

the of loans. a to of on We forgiveness at the Year beginning start bunch expect New the the process

pages now Congress in yesterday at effort that out managed Trump's make are X,XXX to taxable. the loans came of I've signature. by waiting IRS to right that's that us. the PPP couple takeaway We last the XXX current Congress down The narrow was approved to night the has a it forgiveness of pages. looking for It's that overridden legislation its biggest impact is, the

forgiveness loan was that could out the to expenses taxable, income. as back I the just in if forgiven, pick deductible. not the the go be on intended came that be have So, to are would what would was And law you PPP up meaning when Act, loans March, not CARES

So, at still related that we And bill, Congress going paid IRS with overturns financial expenses. that the deferred it cannot to ruling position losses took record on and last essentially approved then dip. doing out our forgiven. the amounts The this. were that the that deduct came expenses the in were again with a in night, that saying point PPP which was year November double for end statements, to that these company We assets the the that, loans were of a tax

will the forgiveness have the and short, was our are a rates be loss of expenses taxes returns income, currently a recapture not So money and which we're paying which -- creates that the will end, year story tax paid XX%. long loans and in deductible, that back we then the we case operating September prior the our paid the carry XX% for at year’s on with will

to purchases like to will appears the So, it we’ll cost NOL legislation the use have million additional reviewing expenses there claim things that also apply goods three any months. other funds sold A for four we new be to to that Ark but finished appears -- we $X.X the And of and $X.X in couple of looking that are nature. of to it other back we're carry items next eligible that expect loans. PPP approximately of a company million again that going in haven't of available are be to things an to into for file like and stimulus

couple For of what determine the we look voluminous at to legislation a you. only It's means. that, we're still to to Michael, back have trying and hours it.

Michael Weinstein

Alright. you, Thank Anthony.

think I good a that's explanation.

balance our is money. said, sheet back million, things So, which What in are shape think in now our we to back on there. that $X NOLs in balance our the with is PPP sheet good other putting there expectation, Anthony of the carry granting

not to were something us. tangible rent. bill goods to that And and costs include of The PPP be for to We’re be this this, but could it it expand payroll of seems loans for meant sure original seems sold.

extent the we million that we as can our part had million grants $X that means few million money. in PPP million cost some up dollars is total included expectation $XX $XX -- to go be in of of which all So a took goods the sold in by in grant, may

Anthony Sirica

Yes. Could I jump in, Michael?

Michael Weinstein

Sure. Yes.

Anthony Sirica

Yes.

had way there of account. bank within the your to So point the you spend is the money hitting the XX was PPP that the weeks law constructed, money

early restaurants For majority and May. the York New the came-in money the in D.C., of

with could we That restaurants very of XX% initially of have covered -- order volumes utilities. mid-October just was had essentially money the the of by June indoor or to the the spend end New to didn't in end so until end of the -- number period. outdoor and in July. we to the payroll open dining, They the money So not York to payroll rents limited considering, difficult dining opened use one, all the have didn't on the until to was and we

current our a of legislation it expended during XX% new it this what as go and loan. we -- either return think expenses percentage we'll or we're money period. eligible have XX%, if included able -- What perishable now may on are use is that to saying were based purchases I appears inventory to in XX% -- the okay, Michael rent, legislation had inventory the XX% will that up is other to the is payroll saying that the the or on money be covered so we as keep saying

Michael Weinstein

explanation, Anthony. the you for better Thank

take So all that to said, happy questions. I'm being

Operator

Instruction]. [Operator

Principals. Value Our first with Investment question is from Milan Mehta

Milan Mehta

it I positive? the to that EPS be like and would if will just accretive know was FF announced acquisition in December,

Michael Weinstein

Alright.

So we $X Revenues be million. its is of bought XX% flow. revenues cash up XX% a strong to to restaurant in positive that historically used

So purchase price, equal installments. $X four the million down $X.X million over years and in $X.X million

this million purchase. buying Lauderdale this We cheap The what think for also $X million other sales Fort one were are similar you was that of the the canals. of was, throwing the is pre-pandemic. would who by a situated restaurants the cash on in you years, way, area in XX that the now validated And on If year $X restaurant canals. very flow, in some are a

the in this sort who other imposed time. right that than and restaurant For the fishermen line whatever reason, We Lauderdale volume on think to we It weeks. sellers, guys, were We've in to same was revenues able to quality their down They more good established has that the at for volume. do improve we The are much other been restaurants of with anymore. obviously the the volumes of area. it Its ago. XX seen are price want Fort do in reason the no have at is reach years that restaurant. capacity the X in two didn't with about goods improve can sold cost operating the restrictions now

point. sales. are, XX%, to at I weeks they're But from In their flow, you yet can goods know I but like we sales as throwing very And of on we're probably get think there’s there of tell we don't with cash really we that payroll what would cash can we any down the yet. cost that XX% look historic So influence work until positive at happy have and X tell take empirical done. we're I you, -- sold, in be it's and a not this off

we're with in So that's everything line else doing.

we very made we good So think purchase. a

significantly and So as the we've pandemic to to lifts I habits, got people think be something restore their old us. could that beneficial

Operator

is question Roger Financial next services. Lipton Our with from Lipton

Roger Lipton

allow up that, PPP the cost use possibility, summary. hope loans, is the will to entire million? The that Good goods the would -- $XX so that of you

Anthony Sirica

will million, of through but and would Again, But speak. couple of yes, up other times $XX $XX a couple will were we closer more about it external consult as higher get get know We definitely we will $XX are that go with don't this want entire million estimating. it auditors it figuring $XX the to if and definitely if what forgiven. this I reading That million. I'm a probably we'll our I be be be the million, go were right. Yes. will mean, firms than we -- I studying to

Roger Lipton

it. early And forwards, and it's again, you're studying going and

bill bill your hope? old So versus the a confused little new the I with changes. what's was

the new what? So hope is of the terms in bill

Anthony Sirica

bill yet -- what retroactively I loan gotten And adds another part it and And food there's assume $XXX loans purchases. you if the -- I to and But in it the the how is the amounts of would was. then by nature. the Act loans, then meant PPP That's I to that see as and in appears law who -- back there when calculations those eligible in I in of is Well, it CARES adds available. haven't it additional there's new don't loans, Ark for determine caps have eligible that. you I if billion adds the to things it know, are to prior opportunities, want

the So weeks. figure will of yet. gotten that couple to I all haven't over out that we next But

Roger Lipton

new you able all, you'll to if know the to be yet access money? at So don't what extent,

Anthony Sirica

yet. don't know. we We know don't No,

Roger Lipton

Okay. balance off is That's balance of of right? million million $XX helpful. your -- sheet, to million okay, debt $XX reduction And obviously, your $XX So...

Anthony Sirica

Yes. Yes.

Roger Lipton

betting the I situation. online didn't Anything -- mean What about you the states... at to Michael, refer all?

Michael Weinstein

just a that talk afterwards, it say problem. going but now I was without I can about to

limited the have in holder equity in $X the We interest between around X basis So Meadowlands I $X.X that million, ago. we're and took Anthony, a on an new Jersey. of in million almost involved on-diluted we partnership years Northern New XX% XX%, loans? somewhere about guess, Racetrack position that,

Anthony Sirica

Yes. Yes.

Michael Weinstein

dramatically to Aqueduct significant. time, have caused now, were thought in at We they State position eroding Northern years we at in to the a gaming, the issue density what part took New partial Yonkers. being Jersey, the of to, years because right New buy York license casino was that And mostly state that slots. would looking X Atlantic that casino downstate some in the City situation we MGM and point, at And that ago, as saying were going was have X is active which a

days So weren't weren't the so and handle, we And one the that it's cash, I have Court venue because Jersey Supreme Meadowlands then Supreme it. We United It's The approve betting. changed significant We the throwing in pro was the were it. were pre-pandemic money still to sports The don't sports And to during see sports making -- thing largest our to States Jersey and dramatically, There in respond. on distributed. cash. would allowed Court cash, off think, right in where the betting That fulfilling money. and are money $XX losing we partners we the not lives it's, was the a now. million do pandemic. and cash even grossing thought on came and We food, first losing operating the annually it. call exists. And betting bono. went

K-X right from income am correct? on I any revenue that, accounting? So We show the or Anthony, don't

Anthony Sirica

Correct. a extent the investment. method This dividend. We it show would get we show a as cash, -- cost is to we

Michael Weinstein

Right.

notes, -- paid been interest So not significant. had our that's on but we've some

accelerates Jersey Downtown, does from there. minute that, And of we're York's get of is that. that We're than Aqueduct have the New New Cuomo actually Meadowlands XXXX terms York it time indication the he either pandemic. hoping some will downstate accelerates New Yonkers do We to to takes deficit hoping There's with the in believe that respond. XXXX. New York to gaming what may the from closer is because New York So budget or

if it have Rock since in that Hard hopeful. our not as of the an a in of be sort Rock the And is of Hard Hard now. in that very Atlantic sure be a happy to somebody operator But has them one recur. City their we're casino. operator, of would that of operated defense right Casino, we partners. Meadowlands. and both Initially, the partner ability did in with would City, Rock was was to Taj Mahal the a thought as operates be the that old have casino it they investment to Atlantic licensed our partner So in to put should Meadowlands the position I'm they're operator the

going at the operating calls getting outstanding that's So There is a so there on we're loan flow the there. no some are degree, And interest cash on Meadowlands basically New to now, right is what's -- positive facility. us. LLC on to our cash

Roger Lipton

Okay.

we -- hope waiting everybody is we’re that just -- -- So then mean, I would presumably, Cuomo and just that money. for desperate

So presumably…

Michael Weinstein

think site we far casino. Northern triggers And we for best it we're also the Jersey by Yes, available New think it. a in

Operator

is from Geller our [Operator And question next Ventures. Bruce Geller Instructions]. from

Bruce Geller

while this time of that deal I'd go the same you economics to may opportunities -- quite to right out particularly that money, would best you I world there's I to on. sound probably time, the hanging some see levels at lot go of this at are see probably other attractive, many priced there's back announced, the you are isn't so back the now? opportunities as Do spend restaurants normal. barely again. to that just like the like a know gets and never that that

situations on normal aggressive you world, other to doing tough time positive the getting you does take needs And back there do make now, to I'm again, how a then in opportunities year. some take like the it to address of that your advantage and you could next big of this it's there's if to? be Because that? So right wanted seem just get bets, how capital while, that, like of betting so, terms that? if doing company function And in plans the curious here what of these a stair-step -- you advantage are for of could if

Michael Weinstein

me deal. So the from micro, it Bruce, take let this one

to our were that We Rustic. buy you it we own Shuckers, sit. did didn't Alabama. did We We restaurants that has at they an ever know the lease. at have able would get XX-year that I we property. very we on did we'll the with become be As on we don't JB’s, property with come option -- the think to we But it in that know, did which -- pay. a preference cheap it price

So that. we we a feel for also lease. comes XX-year purposes, intensive like strong own very Blue with Moon

And a rent. The And first it XX years XX the X% basically XX we than of of principals seen. the are We sort years by a reasonable first own. But broker truth are more the it's restaurant never Ark a rent. that shown at in that were who And has none property we knew. is years. a last a accelerates can of this

nearby, relied JB’s, down and management on. we who Rustic are who have We in

how kind But one-time with to And use all appraised that that Moon. hearing. friends That's the have also everybody spot, our to great we food. great to go was We bargain. line to extend there restaurant the a make was location, purchase. were allow of felt as able it? it's And existing decor, live this great We problem we Because great kept a buy bank that's it to gone. that to us credit Blue really this price

go extremely to acquisitions lending to -- go going their forward I involved gotten through in as It's family conservative a one the but how not another impossible banks restaurant said to and details how would companies. figure of some agree interest both restaurant a that the up And that guess, for I gaming the last And if make them not they would Ark out business one up Meadowlands us that of convertible sort two figure eye like they has to of really I to of groups, have we preferred partner not only that out with you either looking described. know like-type and or the And own because meant. that other to I'm a bank, it but us. other just one, situations. stock, and the most office the that I've something they're the stock go partnering to you to through weeks, billion. or of restaurants, was into in didn't two converts sees opportunity, saw have a piece got acquire And their us calls. of buy to what Ark I front, think group, $X attractive. with at corporate, like capability wealthy was would they're We group anything on a of but aren't impossible into

years in once to the ventures some So with that Florida I food ago. do in XX think others. when Hard Rocks, did there's ways markets We XX, before the joint at Hard Rock we the did

deals, possibility not that seeing I think We're attractive. exists. flow the not that is

them seeing X, seeing deals, we're X are We times at but EBITDA.

of mean to that. this inclination EBITDA, lot partner, an unknown everybody something, because debt. equity overpay doesn't else find pay sheet going I'm is our And with trying I going do does We’re Moon. not place. demand We therefore, to things take got is see what times anything going we'll If conservative. buyers But at -- have to go back not is ourselves we an to sure And not leverage Blue or normal? we balance X X.X And protect recovery a to I is, will my And how partner. it to here of what may we’re EBITDA. sitting with be can't equity just I'm still and we're times than too pent-up going up be and find to other pay.

more to we're restaurant than going that country earnings paying to Moon think rush times should whatever think deals going X be impacts sales. with knowing that rather to X right. take bit I can us, And it's months aren't right I attractiveness vaccine I'd to here. see stay shot I else's is and a even things it. less So we're don't We've or with deals, that. X and hard now is or right no or the money. we X Well, little X come to you're were from the historical Those going a than try X got sort not rush to somebody or frequently. for The are going pay the Blue say think and how deals to expectation of proven be to you all of -- a see less very

Bruce Geller

is I true, XX% view sense. pandemic. your during number, world read the U.S. fully that That is restaurants be of makes what has the back is, Sure. all there potential gone true much? business so this even just to actually really that's closed all come than -- but had recently. know supply somewhere if that better expectations down something normal, doesn't If I better the don't if like could in a because the

Michael Weinstein

of it done people waitresses, having base They business decimated. go or business independent that to unemployment which to upon have well, the of the of X owner, out months, A permanently back Nobody to on moved But for what back, recognizable restaurants. came from. two lot an City, has own the of the York gone. from draw you those believe, city. They logically, depends our back a country we restaurant astounding understands, tell their tenders, particular gone whatever they an living where reasons know And by it about are that the I than lot out in has has a in we to is business, when as for arts, for coming names other coming employees, names they're barbacks, were an other areas I came bar of venue. reason they or it York this Well, Well, waiters, culture, one whatever. back that been were the again. us one-off highly who being and of business The is, New you now me. in employed would now New school, think home. and for pretty number went to expensive

finding to with -- have waitresses we cafes, waiters and We difficulty even outdoor in. our work had

had A at in New lot been strong kitchens. gone restaurant our in coming consistent them York. working And of they who X population back. in industry into very Hispanic they them sous The Construction doesn't and provide we aren’t of with lot a construction. have left construction, ROBERT industry We salary. chefs are has

sort is on of everybody edge. So

things X in New tell of York are Office all New The I out they're there saying. could go to fully Controller's business in what That's about York. of you permanently Manhattan, so And expects City. XX% restaurants

XX%, that it's think Jesus, only if would God, bad? I I said it's thank to you But So XX%. me, say, No.

employees. you’re single wasn't screwed. If just restaurant tipped in to you're mean, I of industry what has because location, owning well economically wage And to the prior increase of one the happened doing this, a owner minimum pandemic before

went from they where wage, it a then a allowed -- Our toward the tip minimum because became increase -- $X. stayed it were we we wage, tipped to $X but at credit $XX employees used didn't $XX a be wage, credit, minimum minimum

from a went employees a pay. XX% employees, to X-year to which a over net our our tipped of period, net a pay $X $XX -- $XX all So

with Rents, premiums skyrocketing have dramatically. So we negotiable, completely years insurance terms terms any up going healthcare, the we're major our which XX% which every for restaurants. employees in problems with are in premiums, are XXX% live of equation of Who area now out of in that? are got But raise. insurance premiums, also of can economic X our joint over medical

So the bad pandemic. the equation was before

order at exact to own number. I So to in the open, to have the a I put and germ X cost I -- and not -- you you you put killing us that new close months, Bryant now $XX,XXX? if have got mean, forgot Park ventilation, systems, restaurant you in in

close given the restaurant, it. go prune are no XX a the air the you before that notable restaurant out make there's Village, I seat can pumping ran to purest a she We her who pandemic, were able investment. a and technology. is pump a decision woman out, restaurants East talk owns guy mean and make go XX, who in talk Our for But to which living can the to

the York to of restaurants expect fully close. I in So XX% New

that a to Now New it said beneficial in become furniture is a another remain becomes is. that Eventually, doesn't York, restaurant. years. imagine I said restaurant Unfortunately, XX I this when for closes the it store. restaurants I've it open? would

other people -- because up the a is owning restaurants confidence this past, is pick them they'll out. in once a spaces passion to restaurant, become empty So again those there's that can back, have retail, be will repurposed help not for to they investors

So number we've I seats always it same But of it go had. will the will restaurants be long-term, to a short-term in benefit to closed. have the all back think these

Operator

of for turn Michael I'll call over end Weinstein the reached session. remarks. now And to have question-and-answer the we the closing And

Michael Weinstein

Alright. office. of Thank you, out Obviously, we're everybody. the

to there number it. taking try is answer day somebody XXX-XXX-XXXX. to If phones. mail, a and the has I'm we anybody happy up answer cell is to My So -- but take question, have nobody every

feel and hours Thanks grind and well for a calls. I'm It's that all free I stay well, quarter. everybody. during number, wish next on well call families again been I speak the physically for holiday attending happy emotionally. you to you to this. season are to So take for all tough hope business your we'll in the and

Operator

today's at may this participation. you your and disconnect concludes conference, time. Thank for lines And your this you

Ark Restaurants (ARKR) 22 Dec 202020 Q4 Earnings call transcript