Meritage Reports Third Quarter 2014 Results; Accelerating Sales and Earnings Growth
(firmenpresse) - GRAND RAPIDS, MI -- (Marketwired) -- 10/17/14 -- Meritage Hospitality Group Inc. (OTCQX: MHGU), one of the nation''s premier restaurant operators, today reported financial results for the third quarter and the nine months ending September 28, 2014.
.
Chief Executive Officer Robert Schermer, Jr., stated: "We continue to grow the business in the highly charged quick service and casual dining restaurant environments. On the negative side, beef costs are at an all-time high with little relief in sight until 2016 and we are experiencing increasing labor costs due to state and federal minimum wage increases and Obamacare. On the positive side, gasoline prices are at a multi-year low and the job market is improving, creating a positive for restaurant guests."
The Company remains highly confident that with its demonstrated history of operational integration and commitment to the Wendy''s restaurant reimaging program, that it will generate accelerating sales and greater guest satisfaction in its Wendy''s restaurants.
"In our full-service restaurants, our made from scratch American style cuisine, served in an upbeat environment, continues to resonate well with guests. Sales for the third quarter increased 30.4% over the same period last year.
"We have a pipeline of high quality new restaurant development opportunities. New development opportunities combined with accelerated traffic drivers including new menu items, catering, and a continued high food quality/value proposition should allow us to continue our growth pace," added Mr. Schermer.
Meritage Hospitality Group is one of the nation''s premier restaurant operators, with 141 restaurants located in Florida, Georgia, Michigan, North Carolina, South Carolina and Virginia. Meritage is headquartered in Grand Rapids, Michigan, operating with approximately 3,900 employees. The Company''s public filings can be viewed at , under the stock symbol MHGU, or the Company''s website .
SAFE HARBOR STATEMENT
Certain information in this new release, particularly information regarding future economic performance and finances, and plans, expectations and objectives of management, constitutes forward-looking statements. Factors set forth in our Safe Harbor Statement, in addition to other possible factors not listed, could affect the Company''s actual results and cause such results to differ materially from those expressed in forward-looking statements. Please review the Company''s Safe Harbor Statement at .
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 17.10.2014 - 06:37 Uhr
Sprache: Deutsch
News-ID 1310750
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
GRAND RAPIDS, MI
Phone:
Kategorie:
Restaurants
Anmerkungen:
Diese Pressemitteilung wurde bisher 233 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Meritage Reports Third Quarter 2014 Results; Accelerating Sales and Earnings Growth
"
steht unter der journalistisch-redaktionellen Verantwortung von
Meritage Hospitality Group Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
