WCVC to start franchising its Illegal Burger restaurant in US; Brinker International reports $1.54bn in H1 total revenues

Date : 02/04/2019 @ 4:59PM
Source :InvestorsHub NewsWire
Stock : Brinker International, Inc. (EAT)
Quote : 44.15  0.41 (0.94%) @ 7:59PM

WCVC to start franchising its Illegal Burger restaurant in US; Brinker International reports $1.54bn in H1 total revenues



 

WCVC to start franchising its Illegal Burger restaurant in US

February 04, 2019 -- InvestorsHub NewsWire -- West Coast Ventures Group (WCVC) is set to commence franchising its fast-casual dining concept Illegal Burger.

The company is planning to start selling the franchises in three to four months to add to its current $3m annual revenue.

WCVC CEO Jim Nixon said: “We are excited about this upcoming new revenue stream for the company. As many are aware, franchising brings significantly greater bottom line profit compared to company-owned locations."

“We have received many inquiries over the last few months requesting the availability of franchises. We expect a very positive response to WVCV adding this aspect.”

Illegal Burger recently signed an agreement with North American Cannabis Holdings (USMJ) to introduce a pilot cannabis-themed restaurant in Colorado.

This move was part of the sale of USMJ’s AmeriCanna Café to Priority Aviation.

The cannabis-themed restaurant will comprise a food truck that will appear at pop-up venues near recreational marijuana dispensaries in Colorado. It will be opened in collaboration with AmeriCanna Cafe by mid-2019.

Based in Denver, Colorado, WCVC develops, owns and operates contemporary restaurant concepts Illegal Burger and El Señor Sol. It currently operates six restaurants in Denver under Illegal Burger and El Señor Sol brands.

Brinker International reports $1.54bn in H1 total revenues

Brinker International has reported total revenues of $1.54bn for the first half (H1) of the year ending 26 December 2018.

This has increased in comparison with the previous year’s revenue at $1.5bn.

The restaurant company also reported a net income of $58.4m for the six-month period compared with $35.2m for H1 2017, and a rise in operating income from $83m in 2017 to $96.5m in 2018.

The company’s total operating costs and expenses for H1 2018 were $1.44bn, which shows a slight increase compared with $1.42bn in 2017.

Brinker International CEO and president Wyman Roberts said: “Brinker delivered our fifth consecutive quarter of sequential sales improvement, posting positive sales and industry leading traffic.

“Our sustained momentum is being driven by several key factors, including operational execution, takeout and value.”

The casual dining restaurant chain reported that its total revenue increased 3.2% to $790.7bn in Q2 ending 26 December 2018, compared with the previous year’s $766.4bn.

Its net income for the period was $32m, compared with $25.3m for Q2 2017, while the operating income was $49.6m for Q2 2018 compared with $54.4m in Q2 2017.

Brinker International owns and operates 1,685 restaurants, including 1,632 Chili’s Grill & Bar restaurants and 53 Maggiano’s Little Italy restaurants.


 

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