Noble Roman’s Inc. (OTC:NROM) Stock On Watchlist After Update on the Non-Traditional New Unit Opening Schedule

Given the key update provided by Noble Roman’s Inc. (OTC:NROM) on Tuesday, it is quite likely that the stock may get some attention today. The company is based out of Indianapolis and is best known for being the franchisor of Noble Roman’s Craft Pizza & Pub and Noble Roman’s Pizza.

Yesterday, the company came up with more information on the new non-traditional unit openings in the fourth fiscal quarter of 2023. An additional update included the openings that had already been scheduled for the first quarter of 2024. The company announced that in the fourth fiscal quarter of 2023, Noble Roman’s would open 20 new non-traditional units in total by December 31, 2023. The company opened three of those units yesterday, and eight more units will be opened through the rest of December.

In January 2024, the company had scheduled 22 new non-traditional units for opening. The franchisees for the stores had already bought the equipment and sent in the initial orders for food with the distributors as well. In the months of February and March 2024, it had scheduled 18 new units for opening and expected that number to go up.

The Chief Executive Officer and President of the company, Scott Mobley, spoke about the situation as well. He noted that everyone at the company was excited about the substantial level of growth that had been seen in the non-traditional segment in 2023.

Mobley also stated that Noble Roman’s had also moved personnel around in its organizational structure for the purpose of focusing more on the non-traditional part of the business and its expected growth. He went on to state that the management expected strong growth to continue in the segment through the course of 2024. The company had not only a substantial backlog of interested parties but also a 100-unit development agreement in place with Majors Management.