Chanticleer Holdings Updates Recent Progress for its Little Big Burger and Burgers Grilled Right Brands
March 19 2018 - 8:30AM
Chanticleer Holdings, Inc. (NASDAQ:BURG) (“Chanticleer” or the
“Company”), owner, operator, and franchisor of multiple nationally
recognized restaurant brands in the U.S. and abroad, today provided
a development update on its Little Big Burger (“LBB”) and Burgers
Grilled Right (“BGR”) brands, as well as updating recent same store
sales growth for its eight Hooters franchises.
Recent Updates
- LBB San Diego #1 opened
- Repurchased BGR Annapolis / launched online ordering
Pending openings
- BGR Catholic opening this week
Under construction
- LBB Lake Oswego (Portland)
- LBB Multnomah Village (Portland)
- LBB Capitol Hill (Seattle)
- LBB Wallingford (Seattle)
- LBB San Diego #2
- BGR Bloomfield, NJ
Leases signed awaiting construction permits
- LBB Green Lake (Seattle)
- LBB Rea Farms (Charlotte)
- LBB Austin, TX
- BGR Reston, VA
LOI Lease pending
- 1 LBB Charlotte
- 1 LBB Portland
- 2 LBB San Diego
Hooters Franchises YTD same store sales growth through
March 11, 2018 (unaudited / US dollars)
- Emperors Palace - 18.3%
- Johannesburg - 10.2%
- Pretoria - 19%
- Ruimsig - 11.6%
- Umhlanga (Durban) - 2.7%
- Nottingham, England – 11.3%
- Jantzen Beach – 9.7%
- Tacoma – 18.5%
Mike Pruitt, Chanticleer Chief Executive Officer stated, “We
continue to be pleased at the progress of our national rollout of
both our Little Big Burger and Burgers Grilled Right brands. As of
today, we have 13 LBB stores and expect to add an additional 7-11
new locations throughout the balance of the year. With our current
pipeline, remaining JV locations and new potential franchise
partners we remain confident we can exceed our previous guidance.
For 2018 we continue to expect total store count to grow more than
20%.”
Pruitt concluded, “While our main focus on the better burger
category continues to yield encouraging results, it is also worth
noting that as of March 11, 2018, our eight owned Hooters
franchises have all experienced year over year same store growth.
The average growth across all eight was nearly 12.7%, with three
stores posting in excess of 18% growth. We believe these assets
continue to accrue unrecognized value for our shareholders. We will
continue to explore options with respect to best unlocking the
value of these holdings, including our minority stake in Hooters
parent company.
A video about Little Big Burger may be viewed at the following
link:
http://www.chanticleerholdings.com/brands/littlebigburger/
About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer Holdings
(Traded on Nasdaq under “BURG”), owns, operates, and franchises
fast, casual, and full-service restaurant brands, including
American Burger Company, BGR – Burgers Grilled Right, Little Big
Burger, Just Fresh, and Hooters. For more information, please
visit: http://www.chanticleerholdings.com
Forward-Looking Statements:
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release are “forward-looking statements” as that term is defined
under the Private Securities Litigation Reform Act of 1995 (PSLRA),
which statements may be identified by words such as “expects,”
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differ materially from the anticipated results, performance or
achievements expressed or implied by such forward-looking
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materially from anticipated results include risks and uncertainties
related to the fluctuation of global economic conditions, the
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conditions and other factors that are detailed in our periodic
reports and on documents we file from time to time with the
Securities and Exchange Commission. The forward-looking statements
contained in this press release speak only as of the date the
statements were made, and the companies do not undertake any
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of the PSLRA.
Contact Information:
Investor Relations Jason
Assad678-570-6791Ja@chanticleerholdings.com
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