Wetzel's Pretzels Reports 2016 Results and 2017 Outlook
Same-Store Sales Growth and Domestic Expansion Highlight Past Year
PASADENA, CA - (Marketwired - Feb 7, 2017) - Wetzel's Pretzels, the innovator in the fresh-baked pretzel category, today announced highlights and financial results for its fiscal year 2016 along with its outlook for fiscal year 2017. With more than 300 locations now open, the company's recent addition of various multi-unit franchise partners ensures a robust 2017 expansion, with store count expected to surpass 320 by the end of the year.
- Achieved comparable same-store sales increases of 4.4%
- Q4 marked the twelfth straight consecutive quarter of same-store sales growth
- Continued non-traditional unit growth, including the opening of Wetzel's locations at multiple Walmart locations and in Manhattan's Fulton Center, with daily foot traffic exceeding 300,000
- Opened 23 units, including the company's first Saudi Arabia location
- Launched user-friendly app for iOS and Android, which led the snack category in its transparent and generous loyalty program. App allowed for both mobile pay and e-gift cards.
- Continued traditional and nontraditional growth, including expansion within multiple Walmart locations
- Recruiting Multi-Unit Developers to expand into strategic areas of the country where significant white space for store growth remains
- Launch of new Bitz flavor, on the heels of Pizza Bitz, one of the most successful new product introductions in company history, which accounted for up to 10% of net sales system-wide
- Traffic-driving rewards delivered via the Wetzel's Pretzel app
- Additional expansion in Saudi Arabia
"While the restaurant sector was essentially flat in 2016, Wetzel's continued to drive same-store sales increases," said Bill Phelps, co-founder and CEO of Wetzel's Pretzels. "We attribute this growth to a variety of factors, including offering the best-tasting, freshest product, exceptional customer service and a corporate philosophy that places a priority on franchise profitability. Asked to comment on future growth plans, Mr. Phelps said, "There is tremendous white space for Wetzel's Pretzels both domestically -- in malls, bus stations, Walmarts, stadiums and airports -- and internationally. With our strong unit economics and same-store sales growth, we expect to capitalize on those opportunities by recruiting more multi-unit developers into our system and offering incentives for growth."
About Wetzel's Pretzels
Armed with a vision and a tasty recipe for soft pretzel perfection, Bill Phelps and Rick Wetzel opened the first Wetzel's Pretzels bakery in Redondo Beach, Calif., in 1994. Long lines of hungry customers soon formed, attracted by mouth-watering soft pretzels that were hand-rolled, baked fresh and served hot from the oven. As word spread about these golden-on-the-outside pretzels, the company added additional offerings to its menu. Today, Wetzel's Pretzels has grown to more than 300 fresh bakeries across the United States and around the world, including premier locations at Disneyland Resort and Walt Disney World Resort. Every Wetzel's Pretzels bakery adheres to the original vision of its founders; that each super-premium pretzel will be crafted from fresh dough and baked in-store consistently throughout the day, to ensure a delicious offering for each consumer, regardless of when the craving for a pretzel strikes. For additional information on Wetzel's Pretzels or franchise opportunities, please visit the website, call (626) 432-6900, "Like" them on Facebook and follow them on Twitter and Instagram.
Canvas Blue for Wetzel's Pretzels
SOURCE Wetzel's Pretzels
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