News

Moe's reports system-wide sales increase in 2013

January 17, 2014

Moe's Southwest Grill finished 2013 with $526 million in system-wide sales – a 12 percent increase from 2012, according to a company press release. Moe's also exhibited a 4.5-percent increase in same-store sales and will open nearly 100 new restaurants in 2014.

In 2013, Moe's opened 54 new restaurants, including a milestone 500th location in Manhattan in June, and also signed 155 new franchise deals. The brand is now starting an expansion on the west coast, beginning with an 18-unit agreement in Northern California with HKM II LLC of Roseville, Calif., said Paul Damico, president of Moe's

"We've had our eyes on California for a long time now, and we found a terrific franchise partner to help us carve a path," he said. "2013 was great for us in terms of sales and unit growth, and we anticipate even stronger results in the next year."

The first location in California is slated to open in the Sacramento area by spring. In total, Moe's plans to open 96 new stores in 2014 and sign 200 new franchise agreements. Moe's will open new restaurants in other significant markets like Dallas, Las Vegas, Springfield, Mo., and Omaha, Neb., and in the works are plans for further development in markets like Chicago, Philadelphia, and Orlando, Damico said.

Many of the accomplishments in recent years, and expected growth going forward, come from attracting top-level, multi-unit franchisees with remarkable portfolios, including like Burger King, Five Guys, Wendy's and Wingstop, said Damico.

"Prospects are increasingly looking to Moe's because of our outstanding growth potential in an industry segment that is by no means saturated," he said. "We have a fun, irreverent brand that people want to be a part of."

At the close of 2013, Moe's Southwest Grill had more than 550 restaurants nationwide, and a strategic growth plan is in place to increase its existing presence to a total of 800 locations by the end of 2015.

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