RUSSO’S RESTAURANTS OUTPERFORM 2015 SALES PROJECTIONS

October 6, 2015

By https://www.fastcasual.com

Russo’s Restaurants, which includes Russo’s New York Pizzeria and Russo’s Coal-Fired Italian Kitchen, announced that restaurant revenue increases are 9.8 percent higher than original 2015 projections. This performance is accelerating strategic plans for U.S. and international expansion, according to a company press release. Russo’s plans to open an additional seven restaurants by the end of 2015 throughout markets such as Austin, Dallas, Houston and the Middle East.

“We have continued to outperform our sales projections each year. For instance, in 2014, Russo’s Restaurants generated sales increases systemwide of more than 20 percent compared to the year prior,” said Anthony Russo, founder and CEO of Russo’s New York Pizzeria and Russo’s Coal-Fired Italian Kitchen. “Remarkably, this year we’re ahead of our 2014 performance – dramatically outpacing the pizza segment and the overall restaurant industry. The numbers are outstanding, and our model is to thank.”

Highlighting the performance of Russo’s New York Pizzeria and Russo’s Coal-Fired Italian Kitchen, average unit volume at the restaurants surpasses $1 million annually, the release stated.

“We are advancing our strategic growth plan in 2016 with plans to add 20 to 30 restaurants in the next three years. The new phase of franchising will more than double our number of international and domestic locations,” said Jim Carr, director of franchise development for Russo’s Restaurants.””In addition to growth in U.S. markets, we are in discussions with developers in France, Costa Rica, El Salvador, Guatemala, Canada, Mexico, the Philippines, Thailand and China. The world is becoming infatuated with Russo’s.”

Based in Houston, Russo’s Restaurants are composed of a mix of corporate and franchised stores in 46 locations.

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Figure reflects the Average Unit Volume (AUV) for the top 50% of US franchised restaurants that opened before January 1, 2022 and operated throughout the 2022 calendar year under the same ownership as published in Item 19 of our 2023 FDD. The financial performance representations contained in Item 19 of our 2023 FDD also include (1) average system–wide net sales for all US franchised restaurants opened before January 1, 2022 and operated throughout the 2022 calendar year under the same ownership, (2) range system-wide net sales for all US franchised restaurants opened before January 1, 2022 and operated throughout the 2022 calendar under the same ownership and (3) median system-wide net sales for all US franchised restaurants opened before January 1, 2022 and operated throughout the 2022 calendar year under the same ownership.