WCVC Continues Strong Revenue Growth Momentum
December 03 2018 - 12:07PM
InvestorsHub NewsWire
Denver, CO -- December 3, 2018 -- InvestorsHub
NewsWire -- West Coast Ventures Group Corp. (WCVC) ("Company"), parent company of
fast-casual dining concept Illegal Burger, offering hand-crafted
burgers + bar and fast-casual Mexican restaurant chain El Senor
Sol, announced today that its Illegal Burger brand has surpassed
national averages in revenue growth.
According to National Restaurant News Illegal Burger had
the largest year-over-year Q3 2018 revenue growth at 13.3 percent
for same store year-over-year growth The National Restaurant
Association reported that the average growth for 2017 was 5.3
percent. Illegal Burger doubled that number reporting 10.8 percent
growth in 2017. These are outstanding results, but the positive
performance also extended to the operating expense side of the
business as Q3 year-over-year Cost of Sales (COS) decreased 1.7
percent while Q3 year-over-year Gross Margin increased 20.7
percent. For the nine months revenue grew 7.9 percent while COS
only grew 5.6 percent despite the opening of a new location.
Therefore, Gross Margin grew 10.6 percent. These impressive results
are a further validation of the power of the WCVC business
model.
Commenting on these exciting developments, WCVC Founder
and CEO Jim Nixon said, "We are delighted with our
financial results as we grow our revenue while simultaneously
reducing our costs. We are enjoying seeing the ongoing validation
of our business model and the value it brings to our customers and
shareholders. Yet, I would be remiss if I focused only on the
numbers. Much of our success is the result of our employees and
location managers who are so effective in executing our mission and
creating relationships with our growing family of
customers."
About West Coast Ventures
Group Corp.
Based in Denver, Colo., West Coast Ventures Group
Corp. (WCVC)
develops, owns and operates two contemporary restaurant concepts:
Illegal Burger, a quick-casual burger + bar concept, and El Señor
Sol, a full-service fresh Mexican restaurant (5 restaurants in
the Denver Colorado area). Led by seasoned restaurant
entrepreneurs, WCVC management is committed to scaling both modern
sustainable concepts into national franchise models operating
metro-styled restaurants serving only the finest and freshest
natural ingredients.
Forward-Looking Statements
This document may contain forward-looking statements,
relating to West Coast Ventures Group Corp operations or to the
environment in which it operates, which are based on West Coast
Ventures Group Corp operations, estimates, forecasts and
projections. These statements are not guarantees of future
performance and involve risks and uncertainties that are difficult
to predict, and/or are beyond West Coast Ventures Group Corp
control. A number of important factors could cause actual outcomes
and results to differ materially from those expressed in these
forward-looking statements. Consequently, readers should not place
any undue reliance on such forward-looking statements. West Coast
Ventures Group Corp disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
For more information:
+1-(303)423-1300
info@illegalburger.com
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