(PR NEWSWIRE) DJ: Eat At Joe's Ltd. Opens Echelon Mall Unit
DJ: Eat At Joe's Ltd. Opens Echelon Mall Unit
CHERRY HILL, N.J.--(BUSINESS WIRE)--May 11, 1998--Eat At Joe's Ltd. (OTC BB:
JOES) announced Monday that its Echelon Mall unit in Voorhees, N.J., opened
on Saturday, May 9, 1998.
Opening weekend sales confirmed that the company's projections are on target
for the unit.
The company further announced that it is on target for 200% unit growth rate
for this quarter ending June 30, 1998, with the planned opening of:
Eat At Joe's -- Philadelphia International Airport unit in late
May
Eat At Joe's -- University Diner (40th and Walnut Streets,
Philadelphia) unit &
Eat At Joe's -- Gallery at Market East, Philadelphia, unit
opening before the end of the second quarter.
Planned construction for the third quarter ending Sept. 30, 1998, shows
continued rapid expansion of the concept with units opening in Moorestown,
N.J.; Inner Harbor, Md.; Plymouth Meeting, Pa.; and Syracuse, N.Y.
The company maintains a strong cash position with more than $1 million in
liquid assets available for funding the company's expansion plans.
Eat At Joe's is a diversified restaurant organization, initially building a
new chain of 1950's style diners featuring quality, home-cooked American
meals at affordable prices in an appealing and fun atmosphere.
Except for historical matters contained herein, the matters discussed in
this press release are forward-looking statements and are pursuant to the
safe harbor provisions of the Private Securities Litigation Reform act of
1995.
These forward-looking statements reflect assumptions and involve risks and
uncertainties which may affect Eat At Joe's Ltd.'s business and prospects
and cause actual results to differ materially from these forward-looking
statements.
For further information, please contact:
The Wall Street Group Inc. Eat At Joe's Ltd.
32 East 57th Street Financial Division
New York, N.Y. 10022 670 White Plains Road, Suite 120
212/888-4848 Scarsdale, N.Y. 10583
914/725-2700
Attn: Ron Stabiner Attn: Joseph Fiore
vice president chairman & CEO
Visit the Eat At Joe's Website at: eatatjoesltd.com.
CONTACT: Eat At Joe's
Financial Division
Joseph Fiore, chairman and CEO
914/725-2700
or
The Wall Street Group Inc.
Ron Stabiner, VP, 212/888-4848
11:02 EDT MAY 11, 1998
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