Diversified Restaurant Holdings Reports Second Quarter To-date Preliminary Same-Store Sales of 7.2%
June 19 2019 - 6:45AM
Business Wire
Comparable sales trends accelerated throughout
the second quarter, with both traffic and average ticket up
Diversified Restaurant Holdings, Inc. (Nasdaq:SAUC) ("DRH" or
the "Company"), one of the largest franchisees for Buffalo Wild
Wings® ("BWW") with 64 stores across five states, plans to announce
today at the 19th Annual Oppenheimer Consumer Growth and E-Commerce
Conference in Boston preliminary unaudited sales results for the
second quarter through June 16, 2019, of 7.2%.
“With the majority of our second quarter in the books, we are on
pace to achieve our third consecutive quarter of same-store sales
growth and, importantly, saw accelerated gains in both traffic and
average check. We are especially pleased with our strong traffic
levels given reduced promotional activity and recent menu price
increases to combat inflationary pressures,” commented David G.
Burke, President and CEO. “While the Easter shift negatively
impacted comparable sales in April, the latest BWW brand enhancing
initiatives, a favorable sports calendar and our focus on guest
experience, loyalty attachment and development of the delivery
channel helped drive an accelerated rate of growth well into this
year’s second quarter.”
DRH will webcast a presentation at 3:20 p.m. Eastern Time today.
A link to the webcast, along with presentation materials, will be
available on the Company’s website at
www.diversifiedrestaurantholdings.com. An archive of the
presentation can be accessed in the Investors section of the
website following the conference, along with a transcript once
available.
Preliminary results remain subject to the completion of normal
quarter-end accounting procedures and are subject to change. The
Company expects to release financial and operating results for its
2019 second quarter in early August.
About Diversified Restaurant Holdings, Inc.
Diversified Restaurant Holdings, Inc. is one of the largest
franchisees for Buffalo Wild Wings with 64 franchised restaurants
in key markets in Florida, Illinois, Indiana, Michigan and
Missouri. DRH’s strategy is to generate cash, reduce debt and
leverage its strong franchise operating capabilities for future
growth. The Company routinely posts news and other important
information on its website at
http://www.diversifiedrestaurantholdings.com.
Safe Harbor Statement
The information made available in this news release contain
forward-looking statements which reflect DRH's current view of
future events, results of operations, cash flows, performance,
business prospects and opportunities. Wherever used, the words
"anticipate," "believe," "expect," "intend," "plan," "project,"
"will continue," "will likely result," "may," and similar
expressions identify forward-looking statements as such term is
defined in the Securities Exchange Act of 1934. Any such
forward-looking statements are subject to risks and uncertainties,
actual growth, results of operations, financial condition, cash
flows, performance, business prospects and opportunities could
differ materially from historical results or current expectations.
Some of these risks include, without limitation, the franchisor
waiving its right of first refusal, our ability to obtain financing
for the acquisition, the success of initiatives aimed at improving
the Buffalo Wild Wings brand, the impact of economic and industry
conditions, competition, food safety issues, store expansion and
remodeling, labor relations issues, costs of providing employee
benefits, regulatory matters, legal and administrative proceedings,
information technology, security, severe weather, natural
disasters, accounting matters, other risk factors relating to
business or industry and other risks detailed from time to time in
the Securities and Exchange Commission filings of DRH.
Forward-looking statements contained herein speak only as of the
date made and, thus, DRH undertakes no obligation to update or
publicly announce the revision of any of the forward-looking
statements contained herein to reflect new information, future
events, developments or changed circumstances or for any other
reason.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190619005124/en/
Investor and Media:Deborah K. PawlowskiKei Advisors
LLC716.843.3908dpawlowski@keiadvisors.com
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