Bruegger's Announces Second Quarter Financial Results
DALLAS, TX, September 01, 2010 /24-7PressRelease/ -- Bruegger's Enterprises, Inc. (BEI) announced today that the system showed positive sales growth during the second quarter ending July 13, 2010. The 428-unit restaurant operator recognized sales of $58.7 million, a 2.5 percent increase over the second quarter of 2009.
Bruegger's namesake brand added 18 franchise, corporate and co-branded bakeries during the past year. Same store comparable sales were up by 0.6 percent on company units and 0.1 percent system-wide. Bruegger's is anticipating unit growth in 2010 to continue at a rate of 10 percent.
Timothy's World Coffee, which was purchased by BEI in November 2009, saw a 2.9 percent increase in comparable sales during the second quarter. Timothy's has 91 locations operating in Canada and is expecting 10 percent unit growth in 2010.
"Our reinvestment in the business has contributed to ongoing growth in our portfolio of brands," said Bruegger's Chief Executive Officer Jim Greco.
Highlights
- The chain is rolling out its next generation bakery prototype in ten major markets throughout the rest of 2010, paving the way for an updated look that will become a staple for the bagel leader. Bruegger's plans to remodel all of its locations in the next three years.
- Bruegger's continues to expand into new markets, including Austin, TX and Louisville, KY where the company recently signed new franchisees. The company also opened bakeries in four U.S. cities, bringing the total number of U.S. bakeries to 295 located in 25 of the top 50 U.S. markets and Toronto.
- The chain recently announced a 10-year agreement with Sodexo, Inc., a leader in Quality of Daily Life Solutions with a core business of integrated food and facilities management. The license grants Sodexo the ability to open Bruegger's Bakery Cafes in their managed locations over the next ten years.
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