GRAND RAPIDS, MI--(Marketwire - July 19, 2012) - Meritage Hospitality Group, Inc. (
Second Quarter 2012 Highlights
"We are pleased with our continued earnings improvements and the operational integration of newly acquired and developed restaurants. The Image Activation program -- the modernization of Wendy's restaurants, along with new restaurant acquisitions remain the focus of our 150 restaurant growth plan. We are allocating substantial resources toward Wendy's capital improvements and new store development, which we believe will ultimately accelerate sales growth as the Wendy's system transitions to a modern image.
The Company opened a new casual dining restaurant under its proprietary Twisted Rooster themed concept during the quarter, and has contracted additional potential Twisted Rooster locations for 2013," said Meritage CEO, Robert E. Schermer, Jr.
Six Months 2012 Highlights
The Company is working diligently to achieve its 2012 fiscal targets and "150 restaurants x 2015" growth plan. We are optimistic about the long-term growth and modernization prospects being developed by the Wendy's brand. The Wendy's opportunities for Meritage include revitalization of the core premium products, facility modernization-image activation, new store acquisitions, development and re-focused marketing initiatives. The Company's proprietary Twisted Rooster concept operating results continue to improve as the company builds scale and operating efficiencies.
SAFE HARBOR STATEMENT
Certain information in this news release, particularly information regarding future economic performance and finances, and plans, expectations and objectives of management, constitutes forward-looking statements. Factors set forth in our Safe Harbor Statement, in addition to other possible factors not listed, could affect the Company's actual results and cause such results to differ materially from those expressed in forward-looking statements. Please review the Company's Safe Harbor Statement at http://www.meritagehospitality.com.