Bourbon Brothers Holding Corporation Announces First Quarter Earnings
15 Mai 2014 - 7:58PM
Bourbon Brothers Holding Corporation (OTCQB:RIBS) (the "Company")
released its 10-Q for the three months ended March 31, 2014. During
the first quarter of 2014, the Company generated $1,269,888 in
revenues compared to the same period of time in 2013 of $333,557.
During January of 2014, the Company opened Bourbon Brothers
Southern Kitchen in Colorado Springs, Colorado and only nine weeks
of revenues was attributed from that store while Southern
Hospitality in Denver was open throughout the entirety of the
quarter. During its first nine weeks, Bourbon Brothers Southern
Kitchen generated average weekly revenues of $75,600, while
Southern Hospitality in Denver generated $44,300 in average weekly
sales during the first quarter.
Management expects sales to pick up throughout the balance of
the year with each quarter outperforming the first quarter, as is
typical among the restaurant and retail industry. Bourbon Brothers
Southern Kitchen is a concept with the expressed intent of
developing alongside Bass Pro Shops, Cabela's, and Field and
Stream. Management will be closely analyzing the correlation
between an increase in sales among outdoor retailers and the
increase in sales at Bourbon Brothers Southern Kitchen.
Historically, outdoor retail revenues are flat throughout the first
and second quarter, but increase noticeably during the third and
fourth quarters. Likewise, sales in restaurants are stronger during
the second, third and fourth quarters compared to the first.
Bourbon Brothers has incurred a great deal of expense during
this quarter to support its future growth and develop
infrastructure necessary to support rapid growth in store count.
Approximately $899,000 was spent in general and administrative
expenses and selling and marketing expenses. The result of these
expenses will be tremendously beneficial to the Company over time.
The Company is now mere steps away from having a completed
franchise package and selling platform, a professional national
television commercial has been produced, and an alliance has been
forged with business development partners in markets where the
Company is aggressively moving to open new locations.
The Company will be rolling out its third concept during Fall
2014 and is currently negotiating leases on second-generation
restaurant facilities to implement this concept. The name of the
concept is Bourbon Brothers Smokehouse and Tavern, which is
described as being a more urban, upscale pub food that includes a
smoked meats concept which the Company will roll out in urban and
dense suburban markets beginning this fall. Management noted that
the menu and strategy for rolling out this concept would reduce
occupancy, food and labor costs which will add value over the long
term by driving up earnings per square foot. Additionally, this
strategy will give the Company the ability to open stores more
rapidly, as it is less cash intensive. The Company has stated that
it intends to open two more locations by the end of 2014 and will
aim to open an additional four locations during 2015.
Management is excited about the future of Bourbon Brothers
Holding Corporation and the opportunities present for the Company
to expand in the short-term, creating additional value in the
long-term.
More information is available on the Company's website,
www.BourbonBrothers.com.
Forward-Looking Statements
The information in this news release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements involve risks
and uncertainties, including statements regarding the Company's
business strategy and expectations. Any statements contained herein
that are not statements of historical facts may be deemed to be
forward-looking statements. In some cases, forward-looking
statements can be identified by terminology such as "may," "will,"
"should," "expect," "plan," "intend," "anticipate," "believe,"
"estimate," "predict," "potential," or "continue," the negative of
such terms or other comparable terminology. Actual events or
results may differ materially. The Company disclaims any obligation
to publicly update these statements, or disclose any difference
between its actual results and those reflected in these statements.
The information constitutes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of
1995.
CONTACT: IR Contact: Mitchell Roth
Email: mroth@bourbonbrothers.com
Phone: (719) 265-5821
PR Contact: Brandy Fugate
Email: brandy@bourbonbrothers.com
Phone: (719) 265-5821
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