Famous Dave's Responds to New York Times Article
MINNEAPOLIS, Sept. 14, 2012 // GLOBE NEWSWIRE // -- In response to a September 12 article in The New York Times ("Midlevel U.S. Chains Move into Fast-Food Hungry Gulf") covering the international growth plans of some U.S.-based restaurant companies, Famous Dave's of America, Inc. (Nasdaq:DAVE), which was mentioned in the story, today issued the following clarifying statement from Christopher O'Donnell, president and CEO:
"Famous Dave's is pleased with the attention we received in The Times story concerning our interest in international expansion and the growth of our 187-restaurant U.S. and Canadian presence. We agree there's a wonderful opportunity for international growth—as evidenced by our recent expansion into Canada and the success we are experiencing there. However, we want to clarify that we have not at this time established a timeline or detailed plans for regions such as the Middle East, including Dubai, or for Northern Africa. Our growth, as always, will be prudent, and in the best interest of our shareholders and our brand."
About Famous Dave's Legendary Pit BBQ
Famous Dave's of America, Inc. (Nasdaq:DAVE) is proud to be the world's most successful BBQ franchise, selling more BBQ than any other restaurant franchise. Famous Dave's best-selling BBQ has won more than 600 awards for everything from Best Ribs to Best BBQ Sauce to Top Barbeque Restaurant Franchise. Famous Dave's is passionate about BBQ excellence, slow-cooking the BBQ on-site for hours over smoldering hickory wood in authentic pit smokers. The menu features scratch-recipe cookin' and in addition to the award-winning barbequed and grilled meats and chicken, guests can enjoy a large selection of salads, side items and sandwiches, and home-baked desserts. The company owns 53 locations and franchises 133 additional units in 35 states and one Canadian province (as of the second quarter fiscal 2012 earnings release dated 7/25/12). Select territories are available for franchising. For more information, visit www.famousdaves.com. Follow us on Facebook at www.facebook.com/famousdaves.
The Famous Dave's of America, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7726
Safe Harbor Statement
Statements in this press release that are not strictly historical, including but not limited to statements regarding the timing of our restaurant openings and the timing or success of our expansion plans, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, which may cause the company's actual results to differ materially from expected results. Although Famous Dave's of America, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectation will be attained. Factors that could cause actual results to differ materially from Famous Dave's expectation include financial performance, restaurant industry conditions, execution of restaurant development and construction programs, franchisee performance, changes in local or national economic conditions, availability of financing, governmental approvals and other risks detailed from time to time in the company's SEC reports.
Diana G. Purcel
Chief Financial Officer