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    Arian Razai

    Vice President and Research Analyst at Guggenheim Securities

    Arian Razai is a Vice President and Research Analyst at Guggenheim Securities, specializing in equity research with coverage that includes consumer and restaurant sectors such as Jack in the Box, among others. He has supported advisory roles during key earnings calls and contributed in-depth analyses to Guggenheim’s research publications, though detailed individual performance metrics and success rates are not widely available from public sources. Razai joined Guggenheim Securities in 2021 following the completion of his undergraduate degree at the University of California, Berkeley, and currently plays a pivotal role in the firm’s coverage of mid-cap and large-cap consumer names. His professional credentials include active FINRA registration, supporting his analytical and publishing responsibilities within the financial industry.

    Arian Razai's questions to JACK IN THE BOX (JACK) leadership

    Arian Razai's questions to JACK IN THE BOX (JACK) leadership • Q3 2025

    Question

    Arian Razai of Guggenheim Securities inquired about the operational changes expected from new COO Shannon McKinney and asked for more detail on consumer behavior trends among low-income and mid-income cohorts, especially the Hispanic demographic.

    Answer

    CEO Lance Tucker stated that Shannon McKinney will drive a 'back to basics' operational focus on service quality, friendliness, and accountability. Regarding consumers, Tucker noted that the low-income cohort remains cautious. EVP Ryan Ostrom added that the brand's over-indexing with Hispanic guests, who have pulled back spending, has had an outsized impact on sales.

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    Arian Razai's questions to First Watch Restaurant Group (FWRG) leadership

    Arian Razai's questions to First Watch Restaurant Group (FWRG) leadership • Q2 2025

    Question

    Arian Razai of Guggenheim Securities, on for Greg Francfort, asked for details on regional performance, any pockets of weakness, and the impact of recent floods in Texas. He also requested more information on the ROI and cash-on-cash returns for second-generation sites.

    Answer

    CFO Mel Hope stated there was no weakness in any region and performance is generally consistent across geographies due to disciplined site selection, with no significant impact from the Texas floods. He confirmed that second-generation sites are held to the same underwriting standards as new builds: targeting $2.7M in sales by year three, 18-20% mature margins, and a cash-on-cash return of around 35%. CEO Chris Tomasso reinforced this by noting top restaurants are spread across 14 states and 22 DMAs.

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    Arian Razai's questions to Portillo's (PTLO) leadership

    Arian Razai's questions to Portillo's (PTLO) leadership • Q1 2025

    Question

    Arian Razai, on for Gregory Francfort, asked for quantification of brand awareness lifts, an explanation for the positive menu mix, and any surprising insights from the new loyalty program.

    Answer

    CEO Michael Osanloo quantified that brand awareness in Dallas grew 10 percentage points from marketing, which correlated directly to a sales lift. He added he was pleasantly surprised by how quickly loyalty members respond to offers. CFO Michelle Hook attributed the positive mix to a 15% average check lift from kiosks and higher drink attachment across all channels.

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    Arian Razai's questions to FOOT LOCKER (FL) leadership

    Arian Razai's questions to FOOT LOCKER (FL) leadership • Q1 2024

    Question

    Arian Razai requested an update on the women's category, asking about recent wins, challenges, and key brands. He also sought to understand the tangible commercial impact of the upcoming Paris Olympics beyond just being a brand innovation showcase.

    Answer

    CCO Frank Bracken identified the women's category as one of the fastest-growing segments, with female consumers leading sneaker trends. He noted that brand partners are investing heavily, and Foot Locker is supporting this with more in-store space and better storytelling, seeing significant outperformance in its new store concepts. Regarding the Olympics, he stated that with France being Foot Locker's #1 country in Europe, they anticipate a direct local sales impact and view the event as an 'ignition point' for the category, partnering with brands on store takeovers and pop-ups to connect with consumers.

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