Silver Diner Reports Opening in Virginia Beach With New Look and
Outstanding Sales
ROCKVILLE, Md., June 16 /PRNewswire/ -- On June 13, Silver Diner (Nasdaq: SLVR - news) opened its 12th unit in Virginia Beach, Virginia. The early
performance of this new location has exceeded expectations, serving over 1000 customers a day with a high level of customer enthusiasm.
The Virginia Beach unit represents the first Silver Diner to incorporate our new unit economics. As a result of lowering the development costs, this prototype should
result in improved operating efficiencies and return on investment. The new Virginia Beach unit has an enhanced look and feel that combines classic American diner
heritage with today's modern restaurant aesthetics, resulting in a distinctive and warm dining environment that should further drive customer traffic, especially during
the dinner meal period. One new element of this diner that we believe will significantly enhance traffic during the dinner meal period is the addition of a full bar
offering, including beer, wine, specialty drinks, and cappuccino.
Our thirteenth Silver Diner is under construction in Lakeforest Mall in Gaithersburg, Maryland and on schedule to open in August, representing the Company's first
new prototype mall opening. This restaurant will have the same aesthetic model and menu offerings as the Virginia Beach store, combined with reduced investment
and enhanced performance expectations. The Virginia Beach and Lakeforest sites represent the first in a number of anticipated multi-state Company-owned Silver
Diner openings over the next two years. The company also continues to investigate franchising opportunities and other strategic vehicles for accelerated growth.
In commenting on the opening, Robert Giaimo, the company's founder, President and CEO, stated, ``The overall aesthetic impact, initial sales results and extremely
positive customer feedback at the Virginia Beach Silver Diner clearly validates our efforts in creating this next generation prototype. I believe that Prototype 2000 will
be a dynamic expansion vehicle which, over time, will allow Silver Diner to create significant additional value for our shareholders.''
Silver Diner, based in Rockville, Maryland, currently operates eleven Silver Diner restaurants in the Washington, Baltimore and Philadelphia metropolitan areas. The
restaurant chain serves breakfast, lunch and dinner as well as late night meals, combining classic diner appeal with innovative menu selections. Management invites
you to visit the Company's web page at www.silverdiner.com for additional information about Silver Diner. |
