US Stores Struggling, but Investment Thesis Hinges On Australian Rollout

Guzman y Gomez operates a hybrid store ownership model, running corporate-owned restaurants and licensing its brand to franchisees. The company expects around 40% of stores will be corporate-owned over the long run. Most stores are in Australia, but Guzman also has a nascent presence in Singapore and Japan through master franchisee agreements and runs a handful of corporate stores in the United States.