Country Style Cooking Restaurant Chain Announces Preliminary Second Quarter
CHONGQING, China, July 14, 2014
CHONGQING, China, July 14, 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 second quarter 2014 results.
For the second quarter ended June 30, 2014, the Company opened a net total of
14 restaurants, bringing the total net restaurant count to 317, compared to a
total restaurant count of 268 as of June 30, 2013. The new openings include 10
restaurants under the brand name "Mr. Rice."
The Company currently anticipates to report net revenue within its previous
guidance range of RMB 340-360 million ($54.7-$57.9 million), compared to RMB
325.8 million ($53.1 million) in the second quarter of 2013, representing
year-over-year growth of at least 4.3%. The Company expects positive net
income despite the pressure from higher operating costs and negative same
store sales growth in the second quarter of 2014 attributable to rainy, cooler
weather in the Southwest region of China in June which reduced restaurant
Country Style Cooking plans to report its second quarter 2014 results in mid
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 first quarter 2014 and the new restaurant
opening plan for full year 2014 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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