Country Style Cooking Restaurant Chain Announces Preliminary Fourth Quarter
CHONGQING, China, Jan. 13, 2014
CHONGQING, China, Jan. 13, 2014 /PRNewswire/ -- Country Style Cooking
Restaurant Chain Co., Ltd (NYSE: CCSC) ("Country Style Cooking" or the
"Company"), a fast-growing quick service restaurant chain in China, today
announced preliminary fourth quarter 2013 results.
The Company currently anticipates slightly beating the top range of its
previous revenue guidance of RMB325-335 million ($53.2-$54.8 million),
compared to RMB296.5 million ($47.6 million) in the fourth quarter of 2012,
representing year-over-year growth of at least 13%. Same store sales growth in
the fourth quarter of 2013 is expected to be in the mid-single digits. The
Company also expects to report improved year-over-year operating profit and
net income in the fourth quarter of 2013.
For the fourth quarter ended December 31, 2013, the Company opened 20
restaurants, bringing the total net restaurant count to 293, compared to a
total restaurant count of 256 as of December 31, 2012. The new openings
include 15 restaurants under the brand name "Country Style Cooking" and 5
under the brand name "Mr. Rice." For the full year of 2013, 59 new stores were
Country Style Cooking plans to report its fourth quarter and fiscal year 2013
results in late February.
About Country Style Cooking Restaurant Chain Co., Ltd.
Country Style Cooking Restaurant Chain Co., Ltd. (NYSE: CCSC) ("Country Style
Cooking") is a fast-growing quick service restaurant chain in China, offering
delicious, everyday Chinese food to customers who desire fast and affordable
quality meals. Country Style Cooking directly operates all of its restaurants
and is the largest quick service restaurant chain in Chongqing municipality,
home to Sichuan cuisine, one of the best-known Chinese regional cuisines.
Additional information about Country Style Cooking can be found at
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are
made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements. Among
other things, the outlook for the third quarter 2013 and the new restaurant
opening plan for full year 2013 contain forward-looking statements. The
Company may also make written or oral forward-looking statements in its
reports filed with, or furnished to, the U.S. Securities and Exchange
Commission, in its annual reports to shareholders, in press releases and other
written materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical facts,
including statements about the Company's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve inherent risks
and uncertainties. A number of factors could cause actual results to differ
materially from those contained in any forward-looking statement, including
but not limited to the following: uncertainties regarding our ability to open
and profitably operate new restaurants and manage our growth effectively and
efficiently; risks associated with changing consumer taste and discretionary
spending; uncertainties regarding our ability to maintain and enhance the
attractiveness of our restaurants and our brand and image; risks related to
instances of food-borne illnesses, health epidemics and other outbreaks;
uncertainties regarding our ability to respond to competitive pressures; and
uncertainties associated with factors typically affecting the consumer food
services industry in general. Further information regarding these and other
risks is included in the Company's reports filed with, or furnished to the
Securities and Exchange Commission. Country Style Cooking does not undertake
any obligation to update any forward-looking statement, except as required
under applicable law. All information provided in this press release and in
the attachments is as of the date of this press release, and Country Style
Cooking undertakes no duty to update such information, except as required
under applicable law.
Country Style Cooking Restaurant Chain Co., Ltd.
Chief Financial Officer
Phone: +86-10-6583-7511 or +1-646-328-2520
SOURCE Country Style Cooking Restaurant Chain Co., Ltd.
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