CHARLOTTE, N.C., March 19, 2018 (GLOBE NEWSWIRE) -- Chanticleer Holdings, Inc. (NASDAQ:BURG) (“Chanticleer” or the “Company”), owner, operator, and franchisor of multiple nationally recognized restaurant brands in the U.S. and abroad, today provided a development update on its Little Big Burger (“LBB”) and Burgers Grilled Right (“BGR”) brands, as well as updating recent same store sales growth for its eight Hooters franchises.
Recent Updates
- LBB San Diego #1 opened
- Repurchased BGR Annapolis / launched online ordering
Pending openings
- BGR Catholic opening this week
Under construction
- LBB Lake Oswego (Portland)
- LBB Multnomah Village (Portland)
- LBB Capitol Hill (Seattle)
- LBB Wallingford (Seattle)
- LBB San Diego #2
- BGR Bloomfield, NJ
Leases signed awaiting construction permits
- LBB Green Lake (Seattle)
- LBB Rea Farms (Charlotte)
- LBB Austin, TX
- BGR Reston, VA
LOI Lease pending
- 1 LBB Charlotte
- 1 LBB Portland
- 2 LBB San Diego
Hooters Franchises YTD same store sales growth through March 11, 2018 (unaudited / US dollars)
- Emperors Palace - 18.3%
- Johannesburg - 10.2%
- Pretoria - 19%
- Ruimsig - 11.6%
- Umhlanga (Durban) - 2.7%
- Nottingham, England – 11.3%
- Jantzen Beach – 9.7%
- Tacoma – 18.5%
Mike Pruitt, Chanticleer Chief Executive Officer stated, “We continue to be pleased at the progress of our national rollout of both our Little Big Burger and Burgers Grilled Right brands. As of today, we have 13 LBB stores and expect to add an additional 7-11 new locations throughout the balance of the year. With our current pipeline, remaining JV locations and new potential franchise partners we remain confident we can exceed our previous guidance. For 2018 we continue to expect total store count to grow more than 20%.”
Pruitt concluded, “While our main focus on the better burger category continues to yield encouraging results, it is also worth noting that as of March 11, 2018, our eight owned Hooters franchises have all experienced year over year same store growth. The average growth across all eight was nearly 12.7%, with three stores posting in excess of 18% growth. We believe these assets continue to accrue unrecognized value for our shareholders. We will continue to explore options with respect to best unlocking the value of these holdings, including our minority stake in Hooters parent company.
A video about Little Big Burger may be viewed at the following link: http://www.chanticleerholdings.com/brands/littlebigburger/
About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer Holdings (Traded on Nasdaq under “BURG”), owns, operates, and franchises fast, casual, and full-service restaurant brands, including American Burger Company, BGR – Burgers Grilled Right, Little Big Burger, Just Fresh, and Hooters. For more information, please visit: http://www.chanticleerholdings.com
Forward-Looking Statements:
Any statements that are not historical facts contained in this release are “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or required licenses, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the companies do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.
Contact Information:
Investor Relations
Jason Assad
678-570-6791
Ja@chanticleerholdings.com