The Smith & Wollensky Restaurant Group Announces November Sales
01 Dezember 2004 - 10:05PM
PR Newswire (US)
The Smith & Wollensky Restaurant Group Announces November Sales
NEW YORK, Dec. 1 /PRNewswire-FirstCall/ -- The Smith &
Wollensky Restaurant Group, Inc. (NASDAQ:SWRG) today announced
sales for the fiscal month November 2004. Total consolidated
restaurant sales for the fiscal month ended November 22, 2004 were
approximately $10.9 million, up 21.6% from November 2003.
Comparable consolidated restaurant sales increased 3.5% to $9.3
million for November 2004, as compared to the $9.0 million for
November 2003. Comparable consolidated sales include only units
that have been open for 15 months or longer. Chairman and CEO Alan
Stillman said, "Our sales results in November are encouraging; the
strength of the newer units helped drive the growth this month. Our
newest location in Boston continued to perform well in November."
The Company also issued a reminder that the fiscal month of
December 2004 contains six weeks this year, ending on January 3,
2005, compared to the five-week period ended December 29, 2003 last
year. About Smith & Wollensky Restaurant Group The Smith &
Wollensky Restaurant Group develops, owns and operates high- end,
high-volume restaurants in major cities across the United States.
The original Smith & Wollensky, a traditional New York
steakhouse, opened in 1977 and is currently believed to be the
largest-grossing a la carte restaurant in the country. Since its
inception, the company has grown to include 18 restaurants,
including Smith & Wollensky in New York, Miami Beach, Chicago,
New Orleans, Las Vegas, Washington, D.C., Philadelphia, Columbus,
Dallas, Houston, and Boston. SWRG also operates seven other
restaurants in New York and Chicago, including Cite, Maloney &
Porcelli, Manhattan Ocean Club, Mrs. Park's Tavern, ONE c.p.s.
brasserie, Park Avenue Cafe and The Post House. Except for
historical information contained herein, the statements made in
this press release regarding the Company's business, strategy and
results of operations are forward-looking statements which are
based on management's beliefs and information currently available
to management. Readers are cautioned not to put undue reliance on
such forward-looking statements, which are subject to a number of
risks and uncertainties that could cause actual results to differ
materially from such statements. Factors that may cause such
differences include changes in economic conditions generally or in
each of the markets in which the Company is located, unanticipated
changes in labor or food costs, changes in consumer preferences,
the level of competition in the high-end segment of the restaurant
industry and the success of the Company's growth strategy. For a
more detailed description of such factors, please see the Company's
filings with the Securities and Exchange Commission. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. DATASOURCE: The Smith & Wollensky
Restaurant Group CONTACT: Allison Good of The Smith & Wollensky
Restaurant Group, +1-212-838-2061, or Web site:
http://www.smithandwollensky.com/
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