CORAL SPRINGS, Florida, November 4, 2013 /PRNewswire/ --
Market news updates for today's advancing fast casual restaurant companies with expansion and earnings news: GRILLiT, Inc. (OTC: GRLT), Starbucks Corporation (NASDAQ: SBUX), Yum! Brands, Inc. (NYSE: YUM), The Wendy's Company (NASDAQ: WEN) and Chipotle Mexican Grill (NYSE: CMG)
GRILLIT®, INC. (OTC: GRLT) Headline: NEW GRILLIT® INNOVATIVE FRANCHISE LOCATION GRAND OPENING. Grand Opening for Elizabethtown, Kentucky Slated for November 11. GRILLiT, Inc. (the "Company") today announced the launch of its newest franchise location in Elizabethtown, Kentucky, featuring the company's first drive-through and stand alone building concept. The grand opening event is scheduled for November 11, 2013.
This is an innovative concept and an achievement for a franchise restaurant chain and early in its development. We are very proud to be able to roll out our model for free standing facility incorporating our drive-through window operation," he stated.
To read the entire press release, please go to http://finance.yahoo.com/q/h?s=GRLT+Headlines
Starbucks (NASDAQ: SBUX), the worldwide coffee retailer, reported fourth-quarter results for fiscal 2013 on Oct. 30. The company beat on the bottom line, but narrowly missed on the top line and gave guidance below analyst expectations. Starbucks' earnings per share grew 37% and revenue rose 12.8% year over year, while its operating margin expanded 220 basis points to 17.6%. Global same-store sales grew a strong 7% in the quarter, including 8% in the Americas, due to a 5% increase in customer traffic. The increased free cash flow allowed Starbucks to raise its quarterly dividend by 24% to $0.26, resulting in an annual yield of roughly 1.28% at current levels.
Yum! Brands, Inc. (NYSE: YUM) recently announced that it has commenced cash tender offers to purchase up to $525 million combined aggregate principal amount of five series of its outstanding debt securities. The tender offers are consistent with Yum! Brands' on-going debt management strategy and aim to take advantage of historically low interest rates to issue senior notes at lower rates and use proceeds to buy back existing debt, reducing annual interest expense and extending the average maturity of its long-term debt. The terms and conditions of the tender offers are set forth in an Offer to Purchase dated today and a related Letter of Transmittal. Read the entire press release at http://finance.yahoo.com/news/yum-brands-announces-cash-tender-141200373.html
The Wendy's Company (NASDAQ: WEN) announced the declaration of its regular quarterly cash dividend of $0.05 per share, payable on Dec. 16, 2013 to shareholders of record as of Dec. 2, 2013. The number of shares of common stock outstanding at the end of the third quarter was approximately 391.6 million.
Chipotle Mexican Grill (NYSE: CMG) business model supports a long-term outlook for sustained unit growth as CMG generates positive returns in the restaurant industry. Analysts believe the company has premium store volumes, generating an average of $2.1 million in sales per unit, which results in a 27% store margin. Investment costs are modest relative to revenue -- less than $1 million on a cash basis.
In other important market news, just a few weeks after the launch of iOS 7, Apple Inc's (NASDAQ: AAPL), Vice President of Engineering for iOS Henri Lamiraux has retired and left the company, 9to5 Mac reports. Lamiraux, who joined Apple in 1990, worked closely with one-time iOS lead Scott Forstall on the original iPhone, and has his name on a number of important patents including visual voicemail. More recently, he worked under Craig Federighi, who's in charge of software more broadly at Apple. Lamiraux planned to retire after Apple shipped iOS 7, its biggest mobile revamp ever, 9to5 Mac reports.
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