Bertucci's Inc. makes announcement.WAKEFIELD Wakefield, estate, United States Wakefield, family estate of George Washington, on the Potomac River, E Va.; part of the George Washington Birthplace National Monument (see National Parks and Monuments, table). , Mass.--(BUSINESS WIRE)--Jan. 25, 1995--Bertucci's Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BERT (Bit Error Rate Test) An analysis of network transmission efficiency that computes the percentage of bits received in error from the total number sent. ) announced today that it expects that sales for the 13-week fourth quarter ending Dec. 31, 1994 will be approximately $28.2 million, as compared with sales of $19.9 million for the 12-week fourth quarter of fiscal 1993. It is expected that sales for 53-week fiscal year 1994 will be approximately $102.8 million, as compared with sales of $74.6 million for the 52-week fiscal year 1993. The Company estimated that comparable restaurant sales increased approximately 0.4 percent in the fourth quarter of 1994, as compared with the fourth quarter in 1993. The year-to-year comparable restaurant sales are based on 52-week periods in each year. On the basis of preliminary information, earnings for the fourth quarter and full year 1994 are expected to approximate earnings for the fourth quarter and full year 1993. Norman Norman, city (1990 pop. 80,071), seat of Cleveland co., central Okla.; inc. 1891. It is the center of a livestock region. Oil wells, food processing, and printing and publishing contribute to the economy, and there is diverse manufacturing (machinery, communication Mallett, Chief Financial Officer of the Company, commented that revenue in the fourth quarter of 1994 from the Company's new 1994 restaurants were not as strong as had been anticipated. The Company intends to slow the rate at which new restaurants are opened while it examines the underlying causes of the disappointing performance. The Company believes that the underperformance of some restaurants may be attributable to a lack of name recognition in some markets, and the Company expects to take a more aggressive marketing and advertising position going forward in 1995. Joseph Crugnale, President of the Company, expressed confidence that the additions made to the management staff earlier in 1994 and the expected implementation of point-of-sale point of sale n. pl. points of sale A business or place where a product or service can be purchased. Also called point of purchase. point and other systems will enable the Company to gather and evaluate operating information on a timely basis in order to assist in management control and strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. . The Company operates a chain of sixty-seven full service, casual dining Italian restaurants under the "Bertucci's Brick Oven Pizzeria" name, principally in the Eastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . For information at Bertucci's Inc. contact Norman Mallett, Vice President-Finance at 617/247-6700. CONTACT: Bertucci's Inc., Wakefield Norman Mallett, 617/247-6700 |
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