Wetzel’s Pretzels Reports 2018 Results and 2019 Outlook
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Wetzel’s Pretzels Reports 2018 Results and 2019 Outlook

Continued Same-Store Sales Growth and Expansion Highlight Banner Year

PASADENA, Calif. - Feb. 20, 2019 // GLOBE NEWSWIRE // - Wetzel’s Pretzels, the innovator in the fresh-baked pretzel category, today announced highlights and financial results for its 2018 fiscal year along with its outlook for fiscal year 2019. With more than 350 locations, the brand’s strategic growth across traditional and non-traditional units both domestically and abroad ensures a robust new store opening pipeline for 2019, as Wetzel’s seeks to continues its same-store sales growth trend.

2018 Highlights

  • Achieved comparable same-store sales increases of 2.8 percent
  • Opened 23 new units including four locations in China, two in Canada and one in St. Maarten, demonstrating the brand’s ability to resonate with guests and achieve success internationally
  • Opened locations domestically in Idaho, Colorado, Texas, Maryland, Minnesota, Arizona and Florida
  • New locations were a mix of non-traditional and traditional, showing the brand’s ability to thrive outside of traditional malls
  • Fully renovated the flagship Downtown Disney location with custom mural and graphics which highlight the brand’s Southern California roots
  • Jennifer Schuler appointed CEO of the company at year’s end, becoming the brand’s second CEO. Previously the brand’s president, Schuler has shaped Wetzel’s Pretzels’ future with a focus on updated designs that are eye-catching, flexible and cost-effective. In 2017, Schuler became a franchisee as well
  • Launched Cheesy Dog Bites, now a top-10 product for the brand

2019 Outlook

  • Continued growth in new markets where the brand sees white space, specifically Texas, Florida, and Colorado
  • Continued “A” mall location expansion within California
  • Non-traditional unit growth in street locations, college and universities, and food truck test
  • Delivery testing with the goal of “Bringing Pretzels to the People”
  • Product innovation that delights guests and drives traffic
  • Enhanced focus on franchisee profitability to combat rising labor costs

“In a landscape where the restaurant category is fighting to just stay flat, Wetzel’s continues to drive topline sales growth,” said Jennifer Schuler, CEO of Wetzel’s Pretzels. “All restaurants today face challenges with rising labor costs, but Wetzel’s is particularly well positioned to address it due to our operational simplicity, making it quick and easy to onboard new crew, and low cost of goods. We look forward to continuing to bring our scratch made pretzels to new markets domestically and abroad, while supporting our existing stores reach even greater potential through operational excellence and initiatives to build sales.”

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 350 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 , please visit the website (https://www.wetzels.com/), "Like" them on Facebook and follow them on Twitter and Instagram.

Media Contact:

Josh Levitt
Canvas Blue for Wetzel’s Pretzels
949.215.1438
JLevitt@canvasblue.com

SOURCE Wetzel's Pretzels

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