Restaurant Industry Leaders in the News - GRILLiT, Chipotle Mexican Grill, McDonald's, Panera Bread, Noodles & Company, Krispy Kreme
CORAL SPRINGS, Florida, July 23, 2013 /PRNewswire/ --
FinancialNewsMedia.com issues market news updates for today's active food & beverage companies: GRILLiT, Inc. (OTC: GRLT), Chipotle Mexican Grill, Inc. (NYSE: CMG), McDonald's Corporation (NYSE: MCD), Panera Bread Company (NASDAQ: PNRA), Noodles & Company (NASDAQ: NDLS) and Krispy Kreme Doughnuts Inc.'s (NYSE: KKD)
GRILLIT®, INC. (OTC: GRLT) Headline: GRILLIT®, INC. APPOINTS CHIEF EXECUTIVE OFFICER. GRILLiT, Inc. (the "Company") today announced that Mr. Ghazi Hajj was appointed to the position of Chief Executive Officer, and elected as the Chairman of its Board of Directors. Mr. Hajj is a highly successful and experienced restaurateur who is well respected in the fast-casual dining sector. He has over 24 years of collective experience in leading well-known chain restaurants to high growth and profitability. Mr. Hajj stated, "I thank the Board of GRILLiT for electing me to this position. As Chairman and Chief Executive Officer, I pledge that I will do my utmost to bring the GRILLiT concept to as large of a market as possible, while being prudent and maintaining our core values. This has been a dream of mine for many years - to put together a health-conscious fast-casual restaurant chain, building one piece at a time, based on all that I have learned over the past couple of decades." To read the entire press release, please go to http://finance.yahoo.com/q/h?s=GRLT+Headlines
GRLT recently announced that it has executed a letter of intent ("LOI") to acquire an existing eatery to retrofit for its third restaurant location in South Florida. The restaurant is located in a well-trafficked area adjacent to the University of Miami. Subject to finalizing due diligence and definitive documents, the financial terms of the pending deal are binding upon the parties, and the Company expects the closing to occur no later than August 27, 2013. GRILLiT operates healthy, fast-casual restaurants offering American, Asian Fusion, and Latin American food styles. GRILLiT specializes in great atmosphere, casual dining and freshly prepared, delicious made-to-order lunch and dinner options. The Company is focused on expansion throughout Florida and the southeastern United States and nationwide franchising opportunities.
Chipotle Mexican Grill, Inc. (NYSE: CMG) recently reported financial results for its second quarter ended June 30, 2013. Highlights for the second quarter of 2013 as compared to the second quarter of 2012 include: -- Revenue increased 18.2% to $816.8 million -- Comparable restaurant sales increased 5.5% -- Restaurant level operating margin was 27.6%, a decrease of 160 basis points -- Net income was $87.9 million, an increase of 7.6% -- Diluted earnings per share was $2.82, an increase of 10.2% -- Opened 44 new restaurants. "This month marks Chipotle's 20th anniversary. What started out as one restaurant serving burritos and tacos, has evolved into a national brand which is changing the way people think about and eat fast food. Our vision has connected with our loyal customers, who visit Chipotle to enjoy great tasting food made from premium ingredients. It's rewarding to look back and see what we've accomplished, but it's even more inspiring to think about what lies ahead over the next twenty years." said Steve Ells, Founder, Chairman and co-CEO of Chipotle.
McDonald's Corporation (NYSE: MCD) announced results for the second quarter ended June 30, 2013. For the quarter, the Company posted higher revenues, operating income and earnings per share compared with the prior year. "McDonald's results for the quarter reflect our efforts to strengthen our business momentum for the long-term," said McDonald's President and Chief Executive Officer Don Thompson. "We remain strategically focused on the global growth priorities that help us better serve our customers. While the informal eating out market remains challenging and economic uncertainty is pressuring consumer spending, we're continuing to differentiate the McDonald's experience by uniting consumer insights, innovation and execution."
Panera Bread Company (NASDAQ: PNRA), together with its subsidiaries, owns, operates, and franchises retail bakery-cafes in the United States and Canada. The company operates three business segments: Bakery-Cafe Operations, Franchise Operations, and Fresh Dough and Other Product Operations. Panera will release its quarterly report tomorrow, and investors are hoping that the company will be able to produce the same growth that its rapidly rising stock price has promised.
Noodles & Company (NASDAQ: NDLS) develops and operates fast casual restaurants. The company’s restaurants provide noodle and pasta dishes, soups, salads, and sandwiches. The company has almost 350 restaurants in 26 states. Its top-line has grown from $170 million in 2008 to $300 million last year. However, it may be expected with the money from the recent IPO, NDLS should be able to pick up the pace of its expansion.
Krispy Kreme Doughnuts Inc.'s (NYSE: KKD) decision last week to conduct its second large-scale stock repurchase program in 18 months sent its share price to a 52-week high in early trading. The board of directors approved buying up to $50 million worth of stock. The company also said it has refinanced its secured debt, in the process retiring the remaining $22 million on a loan. When Krispy Kreme conducted a share-repurchase program in March 2012, it paid $20 million to buy 3.11 million shares of its common stock. James Morgan, the company's chairman, president and chief executive, said the second buyback program "is a further indication of Krispy Kreme's financial strength, our outstanding free-cash flow generation and our positive outlook for the future.".
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