Comparable sales trends accelerated throughout the second quarter,
with both traffic and average ticket up
SOUTHFIELD, Mich.–(BUSINESS WIRE)–Diversified
Restaurant Holdings, Inc. (Nasdaq:SAUC) (“DRH” or the “Company”),
one of the largest franchisees for Buffalo Wild Wings® (“BWW”) with 64
stores across five states, plans to announce today at the 19th
Annual Oppenheimer Consumer Growth and E-Commerce Conference in Boston
preliminary unaudited sales results for the second quarter through June
16, 2019, of 7.2%.
“With the majority of our second quarter in the books, we are on pace to
achieve our third consecutive quarter of same-store sales growth and,
importantly, saw accelerated gains in both traffic and average check. We
are especially pleased with our strong traffic levels given reduced
promotional activity and recent menu price increases to combat
inflationary pressures,” commented David G. Burke, President and CEO.
“While the Easter shift negatively impacted comparable sales in April,
the latest BWW brand enhancing initiatives, a favorable sports calendar
and our focus on guest experience, loyalty attachment and development of
the delivery channel helped drive an accelerated rate of growth well
into this year’s second quarter.”
DRH will webcast a presentation at 3:20 p.m. Eastern Time today. A link
to the webcast, along with presentation materials, will be available on
the Company’s website at www.diversifiedrestaurantholdings.com.
An archive of the presentation can be accessed in the Investors section
of the website following the conference, along with a transcript once
Preliminary results remain subject to the completion of normal
quarter-end accounting procedures and are subject to change. The Company
expects to release financial and operating results for its 2019 second
quarter in early August.
About Diversified Restaurant Holdings, Inc.
Diversified Restaurant Holdings, Inc. is one of the largest franchisees
for Buffalo Wild Wings with 64 franchised restaurants in key markets in
Florida, Illinois, Indiana, Michigan and Missouri. DRH’s strategy is to
generate cash, reduce debt and leverage its strong franchise operating
capabilities for future growth. The Company routinely posts news and
other important information on its website at http://www.diversifiedrestaurantholdings.com.
Safe Harbor Statement
The information made available in this news release contain
forward-looking statements which reflect DRH’s current view of future
events, results of operations, cash flows, performance, business
prospects and opportunities. Wherever used, the words “anticipate,”
“believe,” “expect,” “intend,” “plan,” “project,” “will continue,” “will
likely result,” “may,” and similar expressions identify forward-looking
statements as such term is defined in the Securities Exchange Act of
1934. Any such forward-looking statements are subject to risks and
uncertainties, actual growth, results of operations, financial
condition, cash flows, performance, business prospects and opportunities
could differ materially from historical results or current expectations.
Some of these risks include, without limitation, the franchisor waiving
its right of first refusal, our ability to obtain financing for the
acquisition, the success of initiatives aimed at improving the Buffalo
Wild Wings brand, the impact of economic and industry conditions,
competition, food safety issues, store expansion and remodeling, labor
relations issues, costs of providing employee benefits, regulatory
matters, legal and administrative proceedings, information technology,
security, severe weather, natural disasters, accounting matters, other
risk factors relating to business or industry and other risks detailed
from time to time in the Securities and Exchange Commission filings of
DRH. Forward-looking statements contained herein speak only as of the
date made and, thus, DRH undertakes no obligation to update or publicly
announce the revision of any of the forward-looking statements contained
herein to reflect new information, future events, developments or
changed circumstances or for any other reason.
Investor and Media:
Deborah K. Pawlowski