Los Angeles - Koo Koo Roo, Inc., moving forward with its growth plans, opened their 36th restaurant, on December 31st, on Wilshire Boulevard's famous Miracle Mile. This latest opening represents the seventh in the last eight weeks of 1997.
"We are very pleased by our ability to open stores at this rate," said John Kaufman, President and COO of Koo Koo Roo, USA. "Our strategy is one of focused growth", said Mr. Kaufman. "We intend to make our brand as convenient as possible to our customers in our existing markets, which include Southern and Northern California, Las Vegas, the D.C. Beltway area and Southern Florida".
Reflecting the company's strategy to fill-in its existing markets and dominate its core market of Southern California, Koo Koo Roo recently opened six stores in addition to the Miracle Mile location -- Claremont and two Torrance units in Southern California, Los Altos in Northern California and one store each in Las Vegas and Bethesda, Maryland.
Adding to their successful openings in the U.S., Koo Koo Roo Canada recently enjoyed a record setting opening of its third location in Toronto, in Humbertown. "Our partners are doing a terrific job bringing the Koo Koo Roo experience to the Canadian market. Their record grand opening sales show the potential of the brand not only outside of Southern California, but outside of the U.S.," said Ken Berg, Chairman of the Board. Koo Koo Roo Canada plans to open at least five more restaurants in 1998.
Koo Koo Roo, Inc. is a fresh food, quick service restaurant concept, which features Original Skinless Flame Broiled Chicken(TM), rotisserie chicken, fresh-roasted hand-carved turkey, sandwiches, salads, soups and side dishes. Koo Koo Roo now operates 36 restaurants in California, Nevada, the D.C. Beltway, Southern Florida and three more in Canada. In addition, the company operates 14 Hamburger Hamlet units, the Arrosto Coffee Company and is currently in the process of divesting its interests in Color Me Mine, the make-your-own-pottery concept.
Forward-looking statements and comments in this press release are made pursuant to the safe-harbor provisions of Section 21E of the Securities Exchange Act of 1934. Such statements relating to, among other things, the prospects for the Company to sign additional leases and open new locations are necessarily subject to risks and uncertainties, some of which are significant in scope and nature including risks related to real estate, construction, competition, availability of capital and continuation of sales increases. These risks are further discussed in the periodic reports and registration statements filed by the Company from time to time with the Securities and Exchange Commission.
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