Captain D's Reports 5.6 Percent Same Store Sales Growth in Q3; New Multi-Unit Franchisee Signings
Fast-Casual Seafood Chain Extends Same-Store Sales Growth Streak to 12 Consecutive Quarters
NASHVILLE, Tenn. - September 23, 2014 - (BUSINESS WIRE) - Like several fast-casual chains that have reported increased revenue and traffic even as quick-service rivals continue to falter, Captain D's tallied a third-quarter same-store sales increase that marked its 12th consecutive quarter of comparable-sales growth.
The Nashville, Tennessee-based seafood chain reported a same-store sales increase of 5.6 percent for the third quarter, with franchised locations experiencing an impressive 6-percent jump and company-owned stores posting a 5.2-percent gain.
The 520-unit fast-casual seafood chain has sustained same-store sales growth for more than three years by expanding its appeal to both current guests and new customers, officials said.
"Our new grilled menu innovation and store redesign program have our current customers coming back more frequently," said Phil Greifeld, CEO and President of Captain D's. "They are also spreading the word, and new customers are falling in love with Captain D's."
The grilled menu, which rolled out system-wide on April 1, includes Shrimp Skewers, Wild Alaskan Salmon, Shrimp Scampi, Tilapia, Chicken Breast, White Fish, and Surf and Turf (beef and shrimp skewers).
"As a result of Captain D's success, we are now in an aggressive growth mode. Building on our accelerating same-store sales growth, we have rolled out a corporate-store development plan, and we also have signed several impressive multi-unit franchisees who are expanding Captain D's footprint," Greifeld added.
Mike Munshi, an award-winning Dairy Queen franchisee who owns seven locations in Georgia, South Carolina and Alabama, has agreed to build three Captain D's restaurants in the Atlanta market.
Captain D's also signed David and Jamie Yates to a multi-unit deal. Over the next three years, the Yates plan to add two Captain D's restaurants in Tallahassee.
Earlier in the year, Captain D's signed Michael Knobelock, one of the largest Church's Chicken franchisees, who agreed to purchase two corporate-owned locations in Mississippi and build new locations in Houston.
"Captain D's strong unit-level economics make it one of the most attractive fast-casual brands for entrepreneurs who are looking for a proven, innovative franchise concept," Greifeld said. "We have built a tremendous amount of momentum that will continue to increase in 2015 and beyond."
About Captain D's
Headquartered in Nashville, Tenn., 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 and beef kabobs, hushpuppies, desserts and freshly brewed, Southern-style sweet tea, a Captain D's favorite. For more information, please visit www.captainds.com.
SOURCE Captain D's
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