Diversified Restaurant (BAGR) Prelim. Q2 Sales Top Views; Comps Up 6.7%
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Diversified Restaurant Holdings, Inc. (Nasdaq: BAGR), the creator, developer, and operator of the unique, full-service, ultra-casual restaurant and bar Bagger Dave's Legendary Burger Tavern and one of the largest franchisees for Buffalo Wild Wings, announced preliminary unaudited sales results for the second quarter ended June 30, 2013.
Total revenue for the 2013 second quarter increased by 61.2% to approximately $27.0 million from $16.7 million in the second quarter of 2012. At the end of the recent second quarter, the Company had 48 restaurants (47 corporate-owned and 1 franchised) operating, comprised of 13 Bagger Dave's and 35 BWW, an increase of 60.0% from 30 restaurants at the end of the prior-year second quarter (29 corporate-owned and 1 franchised). On a consolidated basis, same-store-sales were up approximately 6.7% for the second quarter of 2013, and benefited from a variety of national sporting events, including hockey and basketball playoffs.
The Street was looking for sales of $26.63 million.
DRH expects to open seven additional restaurants during the second half of 2013, six Bagger Dave's and one BWW.
Preliminary results remain subject to the completion of normal quarter-end accounting procedures and are subject to change. The Company expects to release financial and operating results for its second quarter after markets close on Wednesday, August 14, 2013.
Total revenue for the 2013 second quarter increased by 61.2% to approximately $27.0 million from $16.7 million in the second quarter of 2012. At the end of the recent second quarter, the Company had 48 restaurants (47 corporate-owned and 1 franchised) operating, comprised of 13 Bagger Dave's and 35 BWW, an increase of 60.0% from 30 restaurants at the end of the prior-year second quarter (29 corporate-owned and 1 franchised). On a consolidated basis, same-store-sales were up approximately 6.7% for the second quarter of 2013, and benefited from a variety of national sporting events, including hockey and basketball playoffs.
The Street was looking for sales of $26.63 million.
DRH expects to open seven additional restaurants during the second half of 2013, six Bagger Dave's and one BWW.
Preliminary results remain subject to the completion of normal quarter-end accounting procedures and are subject to change. The Company expects to release financial and operating results for its second quarter after markets close on Wednesday, August 14, 2013.
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