31 Opened through Fourth Quarter in 2009; Plans Call for Exceeding Last Year's Openings in 2010
January 15, 2010 // Franchising.com // Lakewood, Colo. - The autumn harvest months of the fourth quarter turned up a rich crop of newly opened licensed locations for Einstein Bros. Bagels as it continues to nourish consumers and food service groups alike with the three elements that distinguish the brand as a preferred dining option: taste, freshness and convenience.
Building on the record growth it reaped in 2009, the popular quick-casual bakery chain has already planted the seeds for another record year in 2010.
"License expansion is key to achieving our vision of becoming the fastest-growing fast casual chain in North America" said Jeff O'Neill, chief executive officer of Einstein Noah Restaurant Group, Inc. (NASDAQ: BAGL). "When dining management groups decide which brands they want in their facilities, they know that we are a leader in offering quality, freshness and convenience where portability and affordability are essential."
Through the fourth quarter of 2009, Einstein Bros. Bagels has opened 31 licensed locations in a variety of venues, including universities, healthcare facilities, military bases and corporate headquarters. In 2010, the company plans to exceed its 2009 openings for another record year.
"The success of the Einstein Bros Brand in the license channel traces to our ability to deliver the quality and freshness of a bakery/café with the speed of a QSR" said O'Neill. "We are known best for our famous bagels and breakfast sandwiches, five different flavors of Darn Good Coffee®, flavorful cream cheese shmears and trendy lunchtime sandwiches."
Nine new licensed stores opened in the fourth quarter of 2009. The locations include: Eisenhower Medical Center-Lucy Curci Center in Rancho Mirage, Calif.; Eisenhower Medical Center in La Quinta, Calif.; Missouri Western State University in St. Joseph University; AT&T headquarters in Dallas; Abilene Christian University in Abilene, Texas; and California State University-East Bay.
At the end of 2009, the company had more than 180 licensed Einstein Bros. locations across the United States, along with 500-plus corporate and franchised stores across its three brands.
Einstein Noah Restaurant Group, Inc. is a leading company in the quick casual restaurant industry that operates and licenses locations primarily under the Einstein Bros.® and Noah's New York Bagels® brands and primarily franchises locations under the Manhattan Bagel brand. The company's retail system consists of more than 600 restaurants in 36 states and the District of Columbia. It also operates a dough production facility. The company's stock is traded on the NASDAQ under the symbol BAGL.
Certain statements in this press release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "estimate," "project," "plans to," "has slated," "is designed to," "expectations," "intend," "indications," "expect," "should," "would," "believe," "target," "trend," "will be able," "is going to be," "will play" and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the actual results or achievements to differ from those expressed or implied by such forward-looking statements. These factors include but are not limited to the following: plans to open licensed stores are subject to a variety of factors including reaching agreements with prospective licensees and the ability of licensees to find suitable locations, reach acceptable lease terms, have adequate capital, find available contractors, build the locations, obtain licenses and permits, locate and train staff appropriately and open new restaurants. These and other risks are more fully discussed in the Company's SEC filings.