Bruegger's Announces Fourth Quarter Financial Results

Fast Casual leader reports continued sales growth in 2010.

2011-03-04

BURLINGTON, VT, March 04, 2011 (Press-News.org) Bruegger's Enterprises, Inc. (BEI) announced today continued sales growth during the fourth quarter ending December 28, 2010. The 437-unit restaurant operator recognized sales of $63.2 million, a 3.6 percent increase over the fourth quarter of 2009. Total system sales for the year were $254.5 million, a 2.8% increase over 2009.

Bruegger's namesake brand added 16 franchise, corporate and co-branded bakeries during the past year. Same store sales were up by 4.3 percent on company units and 3.1 percent system-wide for the 4th quarter. Bruegger's expects continued growth for 2011.

Threecaf Brands Canada, Bruegger's Canadian subsidiary, saw a 1.4 % percent increase in comparable sales during the fourth quarter. Threecaf includes Timothy's World Coffee, which has 93 units and Michel's Bakery Cafe with 14 units operating in Canada.

"2010 was a year of consistent revenue growth for our brands," said Bruegger's Chief Executive Officer Jim Greco. "We believe the investments we made to the brand will continue to pay dividends in 2011."

Highlights:
- Bruegger's completed renovation of 45 bakeries in 2010, including 14 bakeries in Boston, Connecticut and Michigan in the fourth quarter of 2010. The bagel leader anticipates completing another 40 renovations in 2011.

- Bruegger's opened three new bakeries and added new franchisees in Danbury, Connecticut and Orlando, Florida during Q4. Threecaf Brands opened two new Timothy's World Coffee locations in Toronto during the fourth quarter.

- In January, 2011, Threecaf opened a new co-branded Bruegger's/mmmuffins in Toronto, a new Timothy's location in New Brunswick, a new Michel's Bakery Cafe and remodeled a Michel's in Ottawa.

- Growing its presence in non-traditional locations, Bruegger's will open in the Asheville Regional Airport in early 2011. The company's first U.S.-based Timothy's will open at Cleveland Hopkins Airport in Q2 2011. Later in the year, Bruegger's will open its first bakery on a military base in San Diego.

About Bruegger's Enterprises, Inc.
Bruegger's Enterprises, Inc., an affiliate of Sun Capital Partners, Inc., is a leader in the fast casual restaurant segment. The company operates 300 Bruegger's Bakeries in North America (including 4 co-branded locations). In addition, it operates 137 Timothy's World Coffee, mmmuffins and Michel's Bakery Cafes in Canada through a wholly owned subsidiary, Threecaf Brands Canada Inc. BEI's portfolio of brands is dedicated to serving a wide variety of freshly prepared breakfast and lunch options, made with high quality simple ingredients. Founded in 1983, the company is headquartered in Burlington, Vermont and supports its neighbors in every community it serves. For more information, please visit www.brueggers.com or become a fan on Facebook at www.facebook.com/brueggers.

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