Comp store sales up 2.2% for '01 at Bertucci's

 
April 7, 2002

NORTHBOROUGH, Mass. -- Bertucci's Inc. reported on April 1 that comparable store sales at its 74 Bertucci's Brick Oven Pizzerias were up 2.2 percent in 2001, according to an SEC filing.

For the year, the company posted net income of $15.0 million on revenues of $186.6 million.

In 2000, Bertucci's had nearly $100 million more in revenues, but on April 12, '01, the comany sold 40 Chili's and seven On the Border restaurants back to Brinker International, its parent company.

The company announced that it has developed a Bertucci's prototype that will seat 175 and cover 5,500 square feet. According to the filing, each will have an area designated for carryout sales, which along with delivery, accounted for nearly 24 percent of net sales in fiscal '01.

The company said it expects to continue a pace of steady growth by opening new Bertucci's over the next several years, but it gave no details as to where those stores will be. The report also said that funds to finance that development will come from a combination of cash from operations, proceeds from "the Brinker Sale" and loans.

As of January, Bertucci's operated 74 restaurants in nine East Coast states and the District of Columbia.


Topics: Public Companies


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