I wouldn't get your hopes up too high that the stock will take off Monday. On previous press releases the stock hasn't done much. Hardly anybody follows or promotes it other than this thread. However doesn't concern me since I am in this one for the long term. The company is moving in the right direction, continued revenue increases and strong management. Eventually the stock will be "discovered" by Wall Street. Just want to be owning it when that happens.
Rory
Here is Friday's press release:
Friday November 7 4:14 PM EST
Company Press Release
Chicago Pizza & Brewery Inc. Opens Fourth Northwest Location As Third Northwest Restaurant Experiences Excellent Early Revenues
LOS ANGELES--(BUSINESS WIRE)--Nov. 7, 1997--Chicago Pizza & Brewery Inc. (Nasdaq:CHGO)(Nasdaq:CHGOW - news) Friday announced that it has converted its fourth Pietro's Pizza restaurant in the Pacific Northwest to the popular, updated BJ's Pizza, Grill & Brewery format.
In addition, the company's recently converted Jantzen Beach restaurant nearly tripled sales in its second month of operation, compared with the Pietro's average monthly sales.
''We are very pleased with our Jantzen Beach location's results. After just opening in September, the store achieved $153,000 in sales during October vs. Pietro's monthly average of $52,000,'' stated Paul Motenko, chief executive officer.
''The Jantzen Beach store offers an expansive menu, including our award-winning pizza combined with an on-site micro-brewery. The Jantzen Beach Brewery is already producing beer for all our northwest restaurants.''
The company's newest restaurant and fourth conversion is located adjacent to the busy Lloyd Center Shopping Center at 825 N.E. Weidler in Portland, Ore., 503/288-0111. The Jantzen Beach restaurant is located at 12105 N. Center, Portland, 503/289-5566.
Chicago Pizza & Brewery owns eight restaurants in Southern California; one in Boulder, Colo.; and one in Lahaina, Hawaii, which operate under either the names ''BJ's Pizza & Grill'' or ''BJ's Pizza, Grill & Brewery.''
The company also owns 18 Pietro's Pizza locations in Oregon and Washington, four of which have been converted to the popular, upgraded BJ's format; while the other 14 await conversion within the next year.
BJ's restaurants offer customers moderate prices and tremendous value on an incredible menu that includes deep-dish, Chicago-style pizza, as well as sandwiches, salads, pastas, fabulous desserts, critically acclaimed hand-crafted beers and more. Visit Chicago Pizza & Brewery on the Web at bjsbrewhouse.com |
