Boston Market sets F.A.S.T. Track plan; new system shown to cut service times in half.GOLDEN, Colo.--(BUSINESS WIRE)--Oct. 24, 1996--Boston Chicken, Inc. (Nasdaq-NMS: BOST BOST Boston National Historic Park (US National Park Service) BOST Built Off-Chip Self Test ) announced today the rollout of a new service system that will enable Boston Market Boston Market (known before 1995 as Boston Chicken), headquartered in Golden, Colorado, is a chain of American fast-food restaurants. Founded in December 1985 in Newton, Massachusetts, the chain grew rapidly in the early and mid-1990s, filed bankruptcy in the late 1990s, and stores to serve more customers faster, especially during peak hours peak hours npl, peak period n → horas fpl punta peak hours peak npl → heures fpl d'affluence or de pointe . Called F.A.S.T. (Faster Average Service Times) Track(tm), the new system will be in all new Boston New Boston is the name of some places in the United States of America:
The new F.A.S.T. Track system, which modifies the way orders are taken and processed, has cut service times in half in test stores in Colorado, California and Oregon. With the new system, test stores were able to serve more customers during peak hours with fewer employees. In addition to being in all new Boston Market stores built after Nov. 1, F.A.S.T. Track also will be implemented by retrofitting existing stores beginning in January. With F.A.S.T. Track, customers make menu selections and pay for their meals first, instead of paying after the server has prepared their order. Using this new system, servers at various stations assemble the individual items in the order -- hot and cold sides, sandwiches, entrees, and desserts -- at the same time, greatly improving speed of service. "Our customers tell us they love our food and hospitality, but with all our successful new products and increased volume, they said our speed of service has suffered," said Larry Zwain, president and chief executive officer of Boston Market. "Boston Market's mission is to be the world's leader in quick, quality meals, and we aren't always that quick. F.A.S.T. Track uncorks the service bottleneck. Faster customer service also means we can more aggressively market our brands and continue moving toward our goal of reaching weekly per store average sales of $28,000 during 1999," Zwain added. Boston Chicken, Inc. will contribute to the rollout of F.A.S.T. Track along with its area developers by establishing a program to repurchase up to $15 million of service line equipment that will be made obsolete. This repurchase program is not expected to have an impact on BCI's earnings, as it will be offset by a gain BCI BCI Bat Conservation International BCI Brain-Computer Interface BCI Business Continuity Institute BCI Business Cycle Indicators BCI Banco de Credito e Inversiones (Chilean bank) BCI Bell Canada International will recognize as a result of the completion of Einstein/Noah Bagel Corp.'s initial public offering in August 1996. ENBC is a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of BCI. Dennis Mullen, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BC Northwest, Boston Market's area developer in the Pacific Northwest, commented, "Earlier this month we retrofitted all the stores in Portland with the F.A.S.T. Track system. Customer response has been great. We've seen an increase in transactions and sales, and a decrease in service times, especially during our busiest periods. And we're achieving these results with the additional benefit of a decrease in labor." Boston Chicken, Inc. franchises and operates Boston Market food service stores that specialize in fresh, convenient meals featuring homestyle entrees, fresh vegetables, salads and side dishes, including mashed potatoes n. pl. 1. Potatoes which have been boiled and mashed to a pulpy consistency, usu. with sparing addition of milk, salt, butter, or other flavoring. It is a popular accompaniment to a meat course [U.S., 1900's], providing bulk and calories to a meal. made from scratch. Boston Market combines the freshness and quality of traditional home cooking with convenience and value. There are currently more than 1023 Boston Market stores in 38 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . As of Aug. 1, Einstein/Noah Bagel Corp. operated and franchised approximately 200 bagel stores in 19 states, primarily under the Einstein Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . Bagels and Noah's New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Bagels brand names. Certain statements in this release constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. and involve risks, uncertainties, and other factors which may cause the actual performance of Boston Chicken, its area developers, and Boston Market stores to be materially different from the performance expressed or implied by such statements. Such factors include, among others: competition; success of operating initiatives, including the implementation of the F.A.S.T. Track system; area developers adherence to development schedules; advertising and promotional efforts; adverse publicity; changes in business strategy or development plans; availability and terms of capital; regional weather conditions; and other factors set forth in the company's 10-K. The success of the company is dependent on its respective area developers and franchisees and the manner in which they operate and develop their stores. CONTACT: Boston Chicken Inc., Golden Media Contact: Karen Rugen, 303/384-5076 Analyst Contact: Melissa Marsden, 303/384-5652 |
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