Captain D’s Celebrates Unit Growth with Multi-Unit Agreements in Q3
Fast Casual Seafood Chain Experiences 26 Consecutive Months of Same-Store Increases
NASHVILLE - October 01, 2013 - (BUSINESS WIRE) - Captain D’s continued its record setting performance in the third quarter of 2013. Posting yet another quarter of positive same store sales increases, the 520-unit fast casual seafood chain has now marked 26 consecutive months of compounding sales growth.
In 2012, the brand enjoyed a record-breaking year with same-store sales increases of 8.3 percent. Captain D’s has continued their trend of success by posting positive sales numbers throughout 2013. The brand closed out Q3 strong at 3.2 percent same-store sales growth for the system, with increases of 2.5% for franchise restaurants and 3.8% for company locations. Two year system-wide same store sales growth for Q3 was 14.1%, indicative of the brand’s transformation over the last couple of years.
“Captain D’s has continued to build momentum throughout 2013,” said Phil Greifeld, CEO and President of Captain D’s. “We are looking to end 2013 with a strong Q4 and will use the momentum to help roll out new innovations system wide in Q1 of 2014.”
A significant portion of Captain D’s innovation efforts has been focused on new grilled items. The new grilled menu, along with all-new, fresh and inviting menu boards, will be implemented system-wide by Q1 2014. Along with new menu items, the brand has been converting units to fit their new and modern Beach Design remodel.
Captain D’s is also experiencing a heightened interest from multi-unit/multi-brand owners looking to diversify their existing restaurant portfolio and the sales growth of the brand has sparked renewed interest in development from its existing franchise base. Most recently, existing franchisees Bill Townsend and Jim McClure signed multi-unit agreements to add Captain D’s units in Alabama, Tennessee, and Georgia.
“Because our unit economics and overall Captain D’s opportunity is very attractive, we are being sought-after by entrepreneurs looking for a proven, inventive franchise concept,” Greifeld said. “This brand attention, combined with the leadership of our talented executive team, has led to plans to add new franchised restaurants in 2013 and beyond, with the help of new and existing franchise partners.”
About Captain D's
Headquartered in Nashville, Tennessee, Captain D's owns, operates and franchises 520 restaurants in 25 states, plus military bases around the world. Captain D's offers its customers great seafood at reasonable prices in a relaxed environment. The brand’s restaurants serve a widely varied seafood menu that includes freshly prepared entrees, and the company's signature hand-battered fish which is prepared to order to ensure freshness. The restaurants also offer premium-quality grilled fish, as well as shrimp, chicken, shrimp & beef kabobs, hushpuppies, desserts and freshly brewed, southern style sweet tea, a Captain D's favorite. For more information, please visit www.captainds.com.
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