Seafood restaurant chain Captain D's finished 2013 on a tasty note, with fourth-quarter same-store sales growing 2.6 percent from the year before. For all of last year, growth was 3.2 percent, driven in part by the rollout of 60 new or remodeled restaurants sporting the company's new design pictured here.
"Captain D's success is only just beginning," said CEO Phil Greifeld. "Our talented team continues to implement a systematic strategy that has seen consistent success with our current units, ensuring that any unit we add will be able to reap the financial benefits of our proven model."
Captain D's is looking to grilled menu items to provide the next kick in its post-recession growth spurt. (For more on that, here's our CEO of the Year profile from last spring.) After testing a group of Fire Grilled offerings in Nashville last year, the company is now busily installing the necessary equipment across its 525-unit system. The plan is to finish that job by the end of this quarter.
Nashville-based seafood chain Captain D's said its third-quarter same-store sales were up 3.2 percent from mid-2012, with company-owned locations putting in ever better numbers. The 3.2 percent gain falls nicely between the performances from Q1 (+1.6 percent) and Q2 (+5.3 percent).
The company's push to add grilled items and upgrade its stores has now produced 26 straight months of same-store growth. Two year system-wide same-store sales during the quarter was an impressive 14.1 percent.
Captain D's announced Tuesday that franchisees Val and Jim McClure, who operate four Captain D’s locations under the name VJM Seafood, have signed a deal to open an additional three locations in northern Georgia.
The move comes on the heels of a multi-unit signing from Townsend Foods, owned by 11-year franchise veteran Bill Townsend, for four additional locations in Alabama and Tennessee.
Officials with the Nashville-based fast casual seafood chain also announced Tuesday a strong second quarter involving same store sales, which marks 23 consecutive months of compounding sales growth.
“Captain D’s unit-level economics are very strong and provide our franchisees with best-in-class QSR returns,” CEO Phil Greifeld (pictured) said in a release. “Our current franchisees have shown strong dedication and interest in the growth of our brand.”
Read more here.
Captain D's franchisee Bill Townsend, who runs a location in Murfreesboro and two in Alabama, has signed up to open four more locations for the growing restaurant chain in the next five years, including in Murfreesboro. Townsend, whose family has been in the restaurant business for three generations, has been in the Captain D’s system for 11 years and is a part of the company's President’s Advisory Council.