From Yahoo News...It looks like this was released after the bell...maybe tomorrow it will help get us back the 1/2 point that we lost today...
Tuesday June 24 5:09 PM EDT
Company Press Release
Rainforest Cafe Opens First International Location in London
MINNEAPOLIS--(BUSINESS WIRE)--June 24, 1997--Rainforest Cafe, A Wild Place To Shop And Eat(R),
opens its first international location in London today at The Trocadero (20 Shaftesbury Avenue), Piccadilly
Circus, with a 17,000 square foot restaurant and retail unit, including a 340 seat dining area.
The London unit will be operated under the terms of a licensing agreement between The Foundation Group and
Rainforest Cafe. Under the terms of the license agreement, The Foundation Group will open five units over ten
years in the United Kingdom and Ireland. Rainforest Cafe, Inc. will receive a royalty payment based on sales
and, in addition, will have a 20% ownership interest in the limited liability company formed to own and operate
the unit in London. The Foundation Group also operates Glendola Leisure Ltd., and Hotel Management
International Ltd. which includes the Carlton Hotel Collection and Stagecoach Hotels PLC.
Rainforest Cafe currently has location in: Mall of America, Bloomington, Minnesota; Woodfield Mall,
Schaumburg, Illinois; Gurnee Mills Mall, Gurnee, Illinois; Disney Village Marketplace, Walt Disney World Resort,
near Orlando, Florida; Tysons Corner Center, McLean, Virginia; Sawgrass Mills Mall, Ft. Lauderdale/Sunrise
Florida; and South Coast Plaza, Costa Mesa, California.
The company has plans to open locations in: The Source, Westbury, Long Island, NY; Downtown Chicago,
Chicago, IL; Palisades Center, West Nyack, NY; Grapevine Mills, Dallas/Grapevine, TX; Arizona Mills,
Phoenix/Tempe, AZ; MGM Grand Hotel & Casino, Las Vegas, NV; and, Aventura Mall, Miami, FL. Projected
openings in 1998 include: Disney's Animal Kingdom at Walt Disney World Resort, near Orlando, FL; Cherry
Creek Mall, Denver, CO; Great Lakes Crossing, Detroit/Auburn Hills, MI. Internationally, Rainforest Cafe is soon
to expand into Mexico (Cancun, summer, 1997); Canada; and Hong Kong.
Rainforest Cafe, Inc. develops, owns and operates combination restaurant/retail facilities offering a stimulating
and entertaining rain forest theme providing visitors with A Wild Place To Shop and Eat(R). Rainforest Cafe,
Inc. common shares are traded on the NASDAQ National Market under the symbol RAIN.
Contact:
Mark Robinow, Chief Financial Officer
612/945-5400
www.rainforestcafe.com |
