American Restaurant Concepts, Inc. Comments On The Economy And The Restaurant Industry
JACKSONVILLE, Fla., Oct. 11, 2012 /PRNewswire/ -- American Restaurant Concepts, Inc. (OTCBB: ANPZ), the operator and franchisor of America's award-winning Dick's Wings® restaurants, announced today that the improving U.S. and Florida economies are generating favorable trends within the restaurant industry, which should benefit the Company over the next several years.
National restaurant industry trends have turned favorable for American Restaurant Concepts. The National Restaurant Association (NRA) recently stated that restaurant industry sales posted a modest gain in August. Buoyed by stronger same-store sales and customer traffic levels, the NRA's Restaurant Performance Index (RPI) – a monthly composite index that tracks the health and outlook for the U.S. restaurant industry – stood at 100.6 in August, up 0.4 percent from July and the first increase in five months. According to the NRA, August represented the tenth consecutive month that the RPI stood above 100, which signifies continued expansion in the index of key industry indicators.
The NRA also stated that restaurant operators nationally reported positive same-store sales for the 15th consecutive month, with August results representing a solid improvement over the July performance. Approximately 61% of restaurant operators reported a same-store sales gain between August 2011 and August 2012, up from 53% who reported positive sales in July. According to the U.S. Foodservice Industry Forecast released in August 2012 by Technomic, a global foodservice industry firm, growth in retail sales for restaurants and bars are expected to accelerate from 4.3% during 2012 to 4.7% during 2013.
Economic growth is also improving in Florida, where almost all of American Restaurant Concepts' restaurants are located. On Tuesday, September 25th, the University of Florida's Bureau of Economic and Business Research released its consumer confidence index and stated that all five components that make up the survey's consumer confidence metric increased over the past month. September's overall index rose to 79, its highest level since October 2007. According to the survey, Floridians are feeling more confident in their finances and the economy now, than they have in five years.
"While the last few years have been rough on everyone, the national and Florida economies are bouncing back," stated Michael Rosenberger, CEO of American Restaurant Concepts. "Of particular importance to us is that growth in the restaurant industry remains strong and is expected to become stronger in the future. While we expect to generate substantial growth in our revenue and profits for the foreseeable future, the strengthening economy, combined with Americans' growing preference for quality dining experiences, should bode very well for American Restaurant Concepts over the next several years."
About American Restaurant Concepts, Inc.
American Restaurant Concepts, Inc., headquartered in Jacksonville, Florida, is the operator and franchisor of the Dick's Wings & Grill® full-service restaurants and Dick's Wing Express® express restaurants. The company prides itself on the 365 original mouth-watering flavors it has created for its premium grade chicken wings. Dick's Wings® offers customers the freshest wings, sandwiches, burgers, wraps, salads and signature waffle fries, all in a unique setting that combines a family-friendly environment with a sports-themed restaurant. Dick's Wings & Grill's® chicken wings have won numerous awards in Florida and Georgia, including having been voted "Best Chicken Wings in Northeast Florida" 12 consecutive years by Folioweekly magazine. Dick's Wings® currently has 16 full-service restaurants and 2 express restaurants. Fifteen of the restaurants are located in Florida, with one located in Georgia and two located in Canada. For more information on the company, please visit its website at www.dickswingsandgrill.com.
Safe Harbor Provision
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding the company's future financial position, business strategy, budgets, projected revenues and costs, and plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors set forth in the company's Annual Report on Form 10-K for the year ended December 25, 2011 and its other filings and submissions with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the company assumes no obligation to update or revise any of the information contained in this press release.
SOURCE American Restaurant Concepts, Inc.
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