Tuesday July 22 1:12 PM EDT
Company Press Release
Einstein/Noah Bagel Corp. named top growth chain in restaurant industry
GOLDEN, Colo.--(BUSINESS WIRE)--July 22, 1997--Einstein/Noah Bagel Corp. (NASDAQ:NMS - news) today announced that Restaurant Business magazine has named the company the fastest-growing restaurant chain in the foodservice industry.
Each year the magazine rates the Top 50 growth chains on the basis of percentage increase in systemwide sales from 1995 to 1996. ENBC ranked #1 with a 439.4 percent increase in systemwide sales from 1995 to 1996, according to the magazine's July 1, 1997, issue. ENBC's 1995 systemwide sales were $27 million while 1996 systemwide sales were $145.6 million.
``As proud as we are to be honored by Restaurant Business,'' said, Mark Goldston, president and CEO of ENBC, ``we are more proud of our area developers and their store managers and crew who have steadfastly been opening and running great stores. It is their hard work that has put us at the top of the list of growing restaurant companies.''
As of April 20, 1997, ENBC, based in Golden, Colo., franchised 420 retail bagel stores in 28 states and the District of Columbia, primarily under the Einstein Bros(R) Bagels and Noah's New York Bagels(R) brands. The company estimates that there will be 300-350 new stores opened in 1997, ending the year with 615-665 total bagel retail outlets. The stores are unique bagel cafes and bakeries featuring fresh-baked bagels, a variety of cream cheese spreads, specialty coffee drinks, soups, sandwiches and salads. |
