Restaurant Industry Leaders in the News - GRILLiT, Chipotle Mexican Grill,
McDonald's, Panera Bread, Noodles & Company, Krispy Kreme
CORAL SPRINGS, Florida, July 23, 2013
CORAL SPRINGS, Florida, July 23, 2013 /PRNewswire/ --
FinancialNewsMedia.com issues market news updates for today's active food &
beverage companies: GRILLiT, Inc. (OTC: GRLT), Chipotle Mexican Grill, Inc.
(NYSE: CMG), McDonald's Corporation (NYSE: MCD), Panera Bread Company (NASDAQ:
PNRA), Noodles & Company (NASDAQ: NDLS) and Krispy Kreme Doughnuts Inc.'s
GRILLIT®, INC. (OTC: GRLT) Headline: GRILLIT®, INC. APPOINTS CHIEF EXECUTIVE
OFFICER. GRILLiT, Inc. (the "Company") today announced that Mr. Ghazi Hajj
was appointed to the position of Chief Executive Officer, and elected as the
Chairman of its Board of Directors. Mr. Hajj is a highly successful and
experienced restaurateur who is well respected in the fast-casual dining
sector. He has over 24 years of collective experience in leading well-known
chain restaurants to high growth and profitability. Mr. Hajj stated, "I thank
the Board of GRILLiT for electing me to this position. As Chairman and Chief
Executive Officer, I pledge that I will do my utmost to bring the GRILLiT
concept to as large of a market as possible, while being prudent and
maintaining our core values. This has been a dream of mine for many years -
to put together a health-conscious fast-casual restaurant chain, building one
piece at a time, based on all that I have learned over the past couple of
decades." To read the entire press release, please go to
GRLT recently announced that it has executed a letter of intent ("LOI") to
acquire an existing eatery to retrofit for its third restaurant location
inSouth Florida. The restaurant is located in a well-trafficked area
adjacent to theUniversity of Miami. Subject to finalizing due diligence and
definitive documents, the financial terms of the pending deal are binding upon
the parties, and the Company expects the closing to occur no later than August
27, 2013. GRILLiT operates healthy, fast-casual restaurants offering American,
Asian Fusion, and Latin American food styles. GRILLiT specializes in great
atmosphere, casual dining and freshly prepared, delicious made-to-order lunch
and dinner options. The Company is focused on expansion throughoutFloridaand
the southeasternUnited Statesand nationwide franchising opportunities.
Chipotle Mexican Grill, Inc. (NYSE: CMG) recently reported financial results
for its second quarter ended June 30, 2013. Highlights for the second quarter
of 2013 as compared to the second quarter of 2012 include: -- Revenue
increased 18.2% to $816.8 million -- Comparable restaurant sales increased
5.5% -- Restaurant level operating margin was 27.6%, a decrease of 160 basis
points -- Net income was $87.9 million, an increase of 7.6% -- Diluted
earnings per share was $2.82, an increase of 10.2% -- Opened 44 new
restaurants. "This month marks Chipotle's 20th anniversary. What started out
as one restaurant serving burritos and tacos, has evolved into a national
brand which is changing the way people think about and eat fast food. Our
vision has connected with our loyal customers, who visit Chipotle to enjoy
great tasting food made from premium ingredients. It's rewarding to look back
and see what we've accomplished, but it's even more inspiring to think about
what lies ahead over the next twenty years." said Steve Ells, Founder,
Chairman and co-CEO of Chipotle.
McDonald's Corporation (NYSE: MCD) announced results for the second quarter
ended June 30, 2013. For the quarter, the Company posted higher revenues,
operating income and earnings per share compared with the prior year.
"McDonald's results for the quarter reflect our efforts to strengthen our
business momentum for the long-term," said McDonald's President and Chief
Executive Officer Don Thompson. "We remain strategically focused on the global
growth priorities that help us better serve our customers. While the informal
eating out market remains challenging and economic uncertainty is pressuring
consumer spending, we're continuing to differentiate the McDonald's experience
by uniting consumer insights, innovation and execution."
Panera Bread Company (NASDAQ: PNRA), together with its subsidiaries, owns,
operates, and franchises retail bakery-cafes in the United States and Canada.
The company operates three business segments: Bakery-Cafe Operations,
Franchise Operations, and Fresh Dough and Other Product Operations. Panera
will release its quarterly report tomorrow, and investors are hoping that the
company will be able to produce the same growth that its rapidly rising stock
price has promised.
Noodles & Company (NASDAQ: NDLS) develops and operates fast casual
restaurants. The company’s restaurants provide noodle and pasta dishes, soups,
salads, and sandwiches. The company has almost 350 restaurants in 26 states.
Its top-line has grown from $170 million in 2008 to $300 million last year.
However, it may be expected with the money from the recent IPO, NDLS should be
able to pick up the pace of its expansion.
Krispy Kreme Doughnuts Inc.'s (NYSE: KKD) decision last week to conduct its
second large-scale stock repurchase program in 18 months sent its share price
to a 52-week high in early trading. The board of directors approved buying up
to $50 million worth of stock. The company also said it has refinanced its
secured debt, in the process retiring the remaining $22 million on a loan.
When Krispy Kreme conducted a share-repurchase program in March 2012, it paid
$20 million to buy 3.11 million shares of its common stock. James Morgan, the
company's chairman, president and chief executive, said the second buyback
program "is a further indication of Krispy Kreme's financial strength, our
outstanding free-cash flow generation and our positive outlook for the
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