News

Bruegger’s releases Q3 financial results

November 8, 2010

Bruegger's Enterprises Inc. has announced continued sales growth during its third quarter ended October 5, 2010, in addition to same-store sales increases.

Same-store sales for the chain were up by 2.8 percent for company-owned units and 2.0 percent system-wide for the third quarter. Bruegger's is anticipating continued strong unit & comparable sales growth in 2010.

The chain also recognized sales of $58.7 million for the quarter, a 3.1 percent increase over the same period last year.

Bruegger's namesake brand added 17 franchise, corporate and co-branded bakeries during the past year.

Threecaf Brands Canada, Bruegger's Canadian subsidiary, saw a 2.6 percent increase in comparable sales during the third quarter. Threecaf includes Timothy's World Coffee, which has 91 locations operating in Canada.

"Our ongoing investment in our brands and commitment to growth is contributing to positive momentum for the portfolio as we move through the fourth quarter of 2010 and into 2011," said Bruegger's Chief Executive Officer Jim Greco.

Overall, the Bruegger's system now operates 433 locations throughout the United States and Canada.

Other earnings highlights include:

• In September, Bruegger's completed renovation of 13 bakeries in the Raleigh, N.C., market and will reimage more than 30 bakeries by the end of 2010.
•  Bruegger's continues to expand into new markets including Austin, Texas, and Louisville, Ky., where the company recently signed new franchisees, and Baltimore, where the company opened a bakery in the Kennedy Krieger Institute.
• The company opened five new Bruegger's bakeries in the third quarter, bringing the total number of bakeries to 300 located in 26 states, the District of Columbia and Toronto.