O'Charley's Experiencing Solid Second Quarter Same Store Sales Growth; Announces Opening of Two New Locations.NASHVILLE, Tenn.--(BUSINESS WIRE)--July 10, 1998--At the Wheat First Union investor conference in Nantucket, Massachusetts Nantucket is an island 30 miles (48.3 km) south of Cape Cod, Massachusetts, in the United States. Together with the small islands of Tuckernuck and Muskeget, it constitutes the town of Nantucket, Massachusetts and the coterminous Nantucket County , this week, Gregory L. Burns, chairman, president and chief executive officer of O'Charley's Inc. (Nasdaq/NM: CHUX), said the Company expects to report solid same store sales Same Store Sales
A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more.
This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of growth and improved restaurant operating margins Operating Margin
A ratio used to measure a company's pricing strategy and operating efficiency.
Calculated by: for the second quarter. O'Charley's will report second quarter results during the last week of July.
The Company also announced the opening this week of two new locations, in Rock Hill, South Carolina Rock Hill is the largest city in York County, South Carolina, and a satellite city of Charlotte, North Carolina. The population was 49,765 at the 2000 census. According to 2006 estimates, the city has a population of 61,620 , making it the fourth largest city in South Carolina. , and Centerville, Georgia Centerville is a city in Houston County, Georgia, United States. The city is in the Macon metropolitan area. It was incorporated March 25, 1958. The population was 4,278 at the 2000 census. , bringing the total number of O'Charley's restaurants to 92. The Company has opened nine new restaurants so far in 1998 and expects to open a total of 14 to 16 new units by year end.
"The first quarter of 1998 was the strongest in our history," Burns said. "O'Charley's has experienced very solid same store sales growth in the second quarter, unlike a number of other casual dining companies, and we have continued to generate improved restaurant operating margins. Our sales and margin performance this year is a result of the quality and success of our concept and the commitment and dedication of everyone at O'Charley's to the highest levels of quality food and customer service."
O'Charley's operates 92 casual dining, full-service restaurants in Tennessee, Kentucky, Alabama, Florida, Georgia, Indiana, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures
Area, 52,586 sq mi (136,198 sq km). Pop. , Mississippi, Ohio and South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures
Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. . The menu has been designed to have broad appeal and features a variety of dishes, including pasta, fresh chicken and seafood, aged beef, and made-from-scratch soups, salads, breads and desserts. With value-conscious customers in mind, O'Charley's mission is to consistently exceed customer expectations with high-quality food and customer service.
Certain matters discussed in this news release are forward-looking statements within the meaning of the federal securities laws and are subject to uncertainties and risks, including, but not limited to, general economic conditions; the Company's ability to hire and retain experienced management and hourly restaurant personnel; the Company's ability to locate acceptable sites, open new restaurants and operate such restaurants profitably; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
CONTACT: O'Charley's Inc., Nashville
A. Chad Fitzhugh, 615/782-8818