Market Glance for Thursday's Active Companies - GRILLiT, Yum! Brands, PepsiCo, Domino's Pizza, Chipotle Mexican Grill
CORAL SPRINGS, Florida, July 25, 2013 /PRNewswire/ --
FinancialNewsMedia.com issues market news updates for today's active food & beverage companies: GRILLiT, Inc. (OTC: GRLT), Yum! Brands, Inc. (NYSE: YUM), PepsiCo, Inc. (NYSE: PEP), Domino's Pizza, Inc. (NYSE: DPZ) and Chipotle Mexican Grill, Inc. (NYSE: CMG)
GRILLIT®, INC. (OTC: GRLT) Headline: GRILLIT®, INC. today announced that it has executed a revolving credit facility with TCA Global Credit Master Fund. The Company received the initial drawdown of $250,000 on Thursday, July 18, 2013 and, upon consent of the lender, may draw down additional amounts on the same terms up to a total amount of $3,000,000. The Company plans to use the line of credit to carry out its expansion strategy by funding the acquisition and build out of GRILLiT store locations and funding additional marketing/branding campaigns." The Company is using the initial tranche for working capital, inventory, marketing programs, and initial capital requirements for the acquisition and retrofit of its third location adjacent to the University of Miami previously announced on July 17, 2013.
To read the entire press release, please go to http://finance.yahoo.com/q/h?s=GRLT+Headlines
GRILLiT Chairman and CEO, Ghazi Hajj commented, "Access to this credit facility will greatly strengthen our capacity to carry out our expansion for our corporately owned and future franchise locations. Further, we believe that as a result of the leverage that this facility affords us, the expense of the facility is significantly less than an all-equity alternative. Further, we are confident that TCA Global Credit will prove to be a reliable financial partner who will have the capacity to support our growth objectives."
Taco Bell Corp., a subsidiary of Yum! Brands, Inc., (NYSE: YUM), is the nation's leading Mexican-inspired quick service restaurant. Taco Bell serves made to order and customizable tacos, burritos, and specialties such as the exclusive Doritos® Locos Tacos, gourmet inspired Cantina Bell® Menu and lower calorie Fresco Menu. Taco Bell® announced that it will discontinue kid's meals and toys at its U.S. restaurants, becoming the first national quick service restaurant chain to do so. Select restaurants will begin the removal in July, with nationwide implementation anticipated by January 2014.
PepsiCo, Inc. (NYSE: PEP) today reported core earnings per share of $1.31 for the second quarter, an increase of 17 percent on organic revenue growth of 4.2 percent. "We're pleased with our performance in the second quarter and for the first half of 2013. PepsiCo delivered another quarter of mid-single-digit organic revenue growth, driven by our balanced food and beverage product portfolio and global geographic footprint. We continue to invest in advertising and marketing, innovation, and other marketplace initiatives to sustain our organic revenue growth and we are driving a robust productivity agenda that serves as a funding source for these investments," said Chairman and CEO Indra Nooyi.
Domino's Pizza, Inc. (NYSE: DPZ), the recognized world leader in pizza delivery, announced results for the second quarter of 2013, comprised of strong same store sales, EPS growth and positive global store count growth. Domestic same store sales grew 6.7% during the quarter versus the year-ago period, continuing the positive sales momentum in the Company's domestic business. The international division also posted strong results with same store sales growth of 5.8% during the quarter, marking the 78th consecutive quarter of international same store sales growth. The Company had global net store growth of 110 stores in the second quarter of 2013.
Chipotle Mexican Grill, Inc. (NYSE: CMG) News: What started as a small Mexican food joint two decades ago is now a national food chain with over 1,500 restaurants and a company with a market capitalization of more than $12 billion with the stock up 32% through the year. Chipotle reported a 10.2% increase in earnings, which moved to $2.82 per share and beat analyst expectations by a penny. Overall revenue was up 18.2% to $816.8 million, and same-store sales increased 5.5% or 4.5% excluding the extra trading day. Analysts had projected total sales of $802.8 million and comp growth of 3.8%.
FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services. If you would like more information regarding our news coverage solutions, please visit http://www.financialnewsmedia.com for more details. Get an edge on the market with our Premium News Alerts that are FREE for a limited time at http://www.financialnewsmedia.com/. Follow us on Facebook: http://www.facebook.com/financialnewsmedia and Twitter: http://twitter.com/FNMgroup. Sign up for our FREE SMS News alerts delivered directly to your mobile phone by texting the word PRESS to 545454. (SMS alerts are free, however data rates may apply, check your wireless plan for details.)
DISCLAIMER: FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNMG is NOT affiliated in any manner with any company mentioned herein. FNMG and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. The companies that are discussed in this release may or may not have approved the statements made in this release. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.
FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.
SOURCE FN Media Group LLC
More by this Source
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.