Noble Roman's Continues Expansion of Grocery Store Venue with Addition of Seven New Distribution Centers
With this Addition, the Company Now has 17 Grocery Distribution Centers; Expects Grocery Store Venue Revenue in 2015 to Grow 70-90% vs. 2014
INDIANAPOLIS, IN - ACCESSWIRE - June 25, 2015 - Noble Roman's, Inc. (NROM), the Indianapolis based franchisor and licensor of Noble Roman's Pizza and Tuscano's Italian Style Subs, today announced that over the past two months, the company has provided inventory to seven new grocery distribution centers, representing approximately 1,200 grocery stores in six states. The company has now stocked a total of 17 grocery store distribution centers across the country.
Paul Mobley, Chairman and Chief Financial Officer, commented, "Interest in our grocery store venue continues to expand, and we are building the network to enable us to take advantage of this opportunity by adding distribution centers, which gives us new potential customers for further expansion. Our policy is to count a distribution center as part of our network only after initial inventory orders are delivered. We are encouraged by this progress, and expect to add seven to 10 additional distribution centers by the end of August."
The Company will be demonstrating its take-n-bake products at the national convention of one of the largest grocery distribution chains in August to representatives from thousands of grocery stores around the country. The previously announced two larger grocery store chains that signed agreements in late 2014 began opening the company's take-n-bake concept in the second quarter, and are expected to continue to open additional locations this year.
As a result of this progress in the Grocery Store Venue, management currently expects 2015 revenue for this portion of the business to grow 70-90% compared to 2014, representing full-year revenue of $2.5 million to $2.8 million. Overall, management expects full-year 2015 revenue to be between $9.3 million and $9.9 million, representing an increase of approximately 20% compared to 2014.
The company continues to focus on growth in three primary venues: non-traditional franchises and licenses other than grocery stores ("host premise" venue), the sale of take-n-bake pizzas through grocery deli departments and stand-alone take-n-bake franchised locations.
About Noble Roman's
Noble Roman's, Inc. sells and services franchises and licenses for non-traditional foodservice operations under the trade names "Noble Roman's Pizza," "Noble Roman's Take-n-Bake," and "Tuscano's Italian Style Subs." The company has awarded franchise and/or license agreements in all 50 states plus Washington, D.C., Puerto Rico, the Bahamas, Italy, Canada and the Dominican Republic.
The statements contained in this press release concerning the company's future revenues, profitability, financial resources, market demand and product development are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) relating to the company that are based on the beliefs of the management of the company, as well as assumptions and estimates made by and information currently available to the company's management. The company's actual results in the future may differ materially from those projected in the forward-looking statements due to risks and uncertainties that exist in the company's operations and business environment, including, but not limited to, competitive factors and pricing pressures, non-renewal of franchise agreements, shifts in market demand, the success of new franchise programs with limited operating history including the stand-alone take-n-bake locations, general economic conditions, changes in purchases of or demand for the company's products, licenses or franchises, the success or failure of individual franchisees and licensees, changes in prices or supplies of food ingredients and labor, and dependence on continued involvement of current management. Should one or more of these risks or uncertainties materialize, or should underlying assumptions or estimates prove incorrect, actual results may differ materially from those described herein as anticipated, believed, estimated, expected or intended. The company undertakes no obligations to update the information in this press release for subsequent events.
SOURCE Noble Roman's
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