A few weeks ago there was some comment about the Denver store. The 10-Q filing reports the closing as we had suspected.
'the Company closed its sole restaurant located in Denver, Colorado due to a change in its strategy to focus growth in 1997 and 1998 on six markets: Northern and Southern California, New Jersey, New York, Washington D.C. and Florida.'
Also from the 10-Q,
Restaurant sales were $15,949,000 in the current quarter compared to $8,378,000 in the same period of the prior year, an increase of 90.4%. Sales for the current quarter were produced by 31 Koo Koo Roo restaurants and 14 Hamburger Hamlet restaurants, compared to 21 Koo Koo Roo California Kitchen restaurants in same quarter of the prior year. Sales related to Hamburger Hamlet were generated from six weeks of operations during the quarter and amounted to $3,443,000, approximately 20% of total restaurant sales. Four new Koo Koo Roo California Kitchen restaurants were opened during the current quarter in Aliso Viejo and Laguna Hills, California, Falls Church, Virginia and Westfield, New Jersey. Average same store sales for the 14 mature Koo Koo Roo restaurants (which are those open more than 18 months) increased 1.6%.
I'll have to digest the rest of the 10-Q which I probably should have read long ago, but Hamlet made up 20% of sales... maybe I was a little harsh with my earlier critisism.
Fred
Fred |
