Freddy's Frozen Custard Announces Record Fiscal Results

By: News Release Email
By: News Release Email

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Monday, August 3, 2009

Freddy’s Frozen Custard & Steakburgers announced today the results of the first half of its fiscal year 2009, which included record revenues and profits. In addition, Freddy’s disclosed the opening of 5 new franchise stores since the end of 2008, three of which opened during the same week in March.

There are several locations in various stages of development, many of which will introduce the concept to new markets. The 33rd Freddy’s restaurant is scheduled to open August 1st in Gilbert, Arizona, a suburb of Phoenix.

Additionally, during the coming months, Freddy’s will be showing up in the previously-undeveloped cities of Flagstaff, and Goodyear, AZ; Albuquerque, NM; Lawrence and Hays, KS; Lincoln and Omaha, NE; and Denver, CO. The Company is engaged in negotiations with other prospective franchise groups and expects to have the first Freddy’s opening in the Kansas City market in Overland Park sometime around the end of 2009.

Bill Simon, President of Freddy’s, is also pleased to announce that the Company has resumed its development with a signed lease on an end cap space in an exciting new shopping center in Derby, KS. Construction is about to begin with an early fall opening planned. Upon completion, the Company-affiliated stores will total 6.

Additional locations are currently being pursued in Tulsa and west Wichita. “There has been a great deal of focus and concentration on our franchise efforts during the past 2 years and we are again ready to move forward on new company-owned restaurants where possible,” Simon reported.

“Much of our renewed focus is made possible by the personnel additions announced last February as well as our most recent addition of a second franchise consultant, Jeff Grabel. Jeff was an owner-operator with Timberline Steakhouse in the past and we are pleased that we could attract such a knowledgeable operator to our growing concept,” added Scott Redler, COO. “With Jeff joining Mark Scholler and Zach Woodburn, we expect that the service to our franchise partners will be seamless.” Redler went on to disclose that the Company had just leased contingent space in their existing headquarters to accommodate current and planned growth. “We were fortunate to obtain a number of high quality offices in our building which will more than double our previous space.”

Simon also announced several important system improvements made during the first half of the year. “We have just come out of a long process of reviewing our brand positioning and the accompanying logo designs, signage, and packaging. We worked with a major national consulting group and are extremely pleased with the results which will be appearing in all of our stores during the coming months. For the added convenience of our guests, we are also weeks away from rolling out a new gift card to replace the use of paper gift certificates that we have employed since our inception. Our recent rapid growth in transactions has now made it feasible to switch to the more convenient method of a reloadable prepaid card.”

Ben Simon, Director of Operations, was very pleased to report that the 5 Company affiliated stores continue on a rapid pace of sales growth. “We are half way through our second consecutive fiscal year of strong comparative store sales growth and I couldn’t be more proud of all of our managers and associates for the effort they put forth to make sure our guests are treated with the highest standards of quality, service and Freddy’s brand of hospitality.” Ben went on to credit much of the recent success to the introduction of a new training/mentoring system which was tested and then fully implemented during the first half 2009. “We expect to have even better trained staff available to man the Company openings and assist the franchisees in their new market growth.” Ben also announced that several Company Freddy’s stores had set new sales marks during the first half of 2009. “Our sales have progressed nicely throughout the fiscal year capped by an exceptional last week of the calendar first half where the Company and the entire Freddy’s system both reported their highest sales week ever.”

Co-founded by Scott Redler and Bill, Randy, and Freddy Simon, Freddy’s opened its first location on West 21st street in Wichita in August 2002, offering a unique combination of cooked-to-order steakburgers, Chicago dogs, and other savory items along with its signature desserts prepared from premium frozen custard made fresh throughout the day in each store. The Company opened its new prototype design on East 13th Street in Wichita during the summer of 2007. In addition to 3 Wichita locations, Freddy’s also operates stores through its affiliates in El Dorado, Kansas and Tulsa, Oklahoma. Franchise units serve Salina, Topeka, Manhattan, Pittsburg and Hutchinson, Kansas; Moore, Enid, Edmond, and Oklahoma City, Oklahoma; Selma, San Antonio, New Braunfels, Cedar Park, Pflugerville, Euless, Frisco and Highland Village, Texas; Joplin, Missouri and Glendale, Arizona.

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