- Happy Belly Food Group (CSE:HBFG), a notable growth stock, has opened its first Rosie’s Burgers location in Calgary, Alberta
- The company’s income statements suggest it’s on a near-term path to profitability
- Happy Belly Food Group is the parent company of a growing number of food brands, including Rosie’s Burgers, Holy Crap, Lumber Heads Food Co., Yolks, Lettuce Love Café, Pirho Fresh Greek Grill, Joey Turks Island Grill and Via Cibo
- Happy Belly stock has added 360 per cent year-over-year
Happy Belly Food Group (CSE:HBFG), a notable growth stock, has opened its first Rosie’s Burgers location in Calgary, Alberta. The quick service restaurant (QSR) chain specializes in smash burgers, poutine, onion rings and milkshakes.
Sean Black, Happy Belly Food Group’s chief executive officer, shed light on the new opening and how it fits into the company’s growth strategy:
“Opening our first location in Alberta for Rosie’s is a huge step in planting the flag for our smash burger brand. This is just the start of our contractually committed 20 units for the province of Alberta. Many more still to come as we continue to leverage our franchising experience to accelerate our growth and secure prime real estate locations for our franchisees across Canada.
Seeing the team work side by side with our franchisee reinforces how we respect and support everyone that is part of the Happy Belly family. We are actively engaged in discussions with various groups across Canada to accelerate the growth of Rosie’s alongside our brand portfolio. As we organically expand Happy Belly’s presence in the QSR space, numerous opportunities are emerging. We are excited to share updates on newly secured locations for our brands as we continue to drive growth through our asset-light franchise model.
The area of 1509 8th Street Southwest is a prime location for a Rosie’s to thrive being situated in the heart of Calgary’s Beltline district. This location benefits from heavy pedestrian traffic, including professionals, residents and visitors exploring the vibrant area. The dynamic atmosphere creates a consistent demand for quick, delicious food options. The Beltline is known for its eclectic mix of young professionals, students and families, all of whom appreciate quality, convenient dining options. A smash burger brand with its appeal to comfort food enthusiasts and trendy food seekers fits perfectly. Not to mention being surrounded by bars, lounges and cultural hubs. A smash burger spot would attract patrons looking for a quick bite before or after their activities. We anticipate this location will expand Rosie’s customer base in a densely populated area that matches the brand’s demographics. This presents substantial opportunities both in-store and through delivery services.
This marks another step forward in our mission to become a predictable and disciplined growth company. We currently have 421 contractually committed retail locations from area developers across all emerging brands in the Happy Belly portfolio, whether in development, under construction or already open. As we open new stores, the Happy Belly footprint continues to grow.”
Since shifting away from cannabis towards health and wellness in 2020, Happy Belly Food Group has posted an impressive stretch of income statements telling a story of accelerated growth on a path to profitability.
The company grew revenue from C$1.25 million in 2021 to C$5.07 million in 2023, plus C$5.27 million through three quarters in 2024. It has paired this growth with:
- Increases in gross profitability from C$0.65 million in 2021 to C$2.62 million in 2023, followed by C$3.08 million through 2024.
- Decreases in net income losses from C$26.58 million in 2021 to C$1.83 million in 2023 and C$0.94 million through 2024.
These figures suggest that it’s only a matter of time before Happy Belly begins to generate net income profits, which should grant it added flexibility to continue expanding regardless of the economic climate.
About Happy Belly Food Group
Happy Belly Food Group is the parent company of a growing number of food brands, including Rosie’s Burgers, Holy Crap, Lumber Heads Food Co., Yolks, Lettuce Love Café, Pirho Fresh Greek Grill, Joey Turks Island Grill and Via Cibo.
Happy Belly stock (CSE:HBFG) is up by 1.10 per cent trading at C$0.92 per share as of 10:43 am ET. The stock has added 360 per cent year-over-year.
Join the discussion: Find out what everybody’s saying about this restaurant stock’s Rosie’s Burgers chain on the Happy Belly Food Group Inc. Bullboard and check out Stockhouse’s stock forums and message boards.
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(Top photo of Rosie’s Burgers: Happy Belly Food Group)
