Chicago Pizza & Brewery Inc.'s Two New
Restaurants Show Strong Initial Sales
Business Wire - May 13, 1999 09:02
MISSION VIEJO, Calif.--(BUSINESS WIRE)--May 13, 1999--The biggest
restaurant to date in the fast-growing Chicago Pizza & Brewery
(NASDAQ:CHGO)(NASDAQ:CHGOW) chain has become a local success
since its April 10 opening in the popular Warner Center complex in Woodland
Hills, Calif.
In its first three full weeks of operations, the Woodland Hills restaurant achieved
average revenue in excess of $100,000 per week. The company's highest-volume
restaurant in Brea, Calif., took more than two years to accomplish that feat,
reported Paul Motenko, chief executive officer of Chicago Pizza & Brewery. The
Woodland Hills restaurant is the largest in the chain at more than 12,000 square
feet.
Likewise, the company's Arcadia, Calif., restaurant, which opened Jan. 21, is
performing beyond expectations. The Arcadia restaurant generated $694,000
during its 10 weeks of operations in the first quarter.
Said Motenko, "We are extremely pleased with the level of business at our new
restaurant in Arcadia. This 7,400-square-foot location has generated sales
volumes much greater than our original expectations. We are very encouraged
that, after three months of operations, revenues have maintained very close to
their opening levels."
"The initial success of our Arcadia and Woodland Hills restaurants is a further
indication of the strength of the BJ's concept in the larger formats," said company
President Jerry Hennessy. "These larger restaurants are clearly our direction for
the future."
Chicago Pizza & Brewery Inc. operates 29 casual dining restaurants, some of
which incorporate brewpubs. Ten of the restaurants are located in Southern
California, one is located in Lahaina, Maui and one is located in Boulder, Colo.
The company operates seven BJ's restaurants in Oregon and 10 Pietro's
restaurants in Oregon and Washington. BJ's restaurants offer customers a
moderately priced menu that includes deep-dish Chicago-style pizza as well as
sandwiches, salads, desserts, critically acclaimed hand-crafted beers and more.
Visit Chicago Pizza & Brewery Inc. on the Web at
bjsbrewhouse.com.
The information presented herein contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended,
which are intended to be covered by the safe harbors created thereby. The
company's results may differ significantly from the results indicated by such
forward-looking statements. Factors that might cause such differences include, but
are not limited to: (i) the company's ability to manage growth and conversions, (ii)
construction delays, (iii) restaurant and brewery industry competition and other
such industry considerations, (iv) marketing and other limitations based on the
company's historic concentration in Southern California and current concentration
in the Northwest, (v) consumer trends, (vi) increased food costs and wages,
including, without limitation, the recent increase in the minimum wage, and (vii)
other general economic and regulatory conditions.
CONTACT: Chicago Pizza & Brewery Inc.
Paul Motenko, 949/367-8616
or
Hilary Kaye Associates
Eve Gumpel, 714/426-0444 |
