Bruegger's announces Q1 financial results

Bruegger's namesake brand added 20 franchise, corporate and co-branded bakeries during the past year. 

Timothy's World Coffee, which was purchased by BEI in November 2009, saw a 3.6 percent increase in comps during the first quarter. Timothy's has 94 locations operating in Canada and also is expecting 10 percent unit growth in 2010. "We continue to improve operations, introduce new products and make significant capital investments in the future of the Bruegger's portfolio of brands," said Bruegger's CEO Jim Greco.  "Our first quarter results confirm that our strategic initiatives are working."   First quarter highlights

 

In March 2010, Bruegger's opened its first co-branded locations in Canada, combining with three existing mmmuffins locations in Toronto.

In early April, the chain introduced its next generation bakery prototype, paving the way for an updated look that will become a staple for the bagel leader. The first prototypes were rolled out in Charlotte, N.C., Cincinnati, Milwaukee, Minneapolis and Pittsburgh. The chain plans to complete 50 remodels in 2010 and to remodel all of its Bruegger's locations in the next three years at an estimated total cost of $10 million.

 

Bruegger's also expanded into several new markets including Kansas and Connecticut and opened bakeries in a total of five cities, bringing system-wide bakeries open to 296.