The impressive turnaround at Captain D's under CEO Phil Greifeld gathered steam in the third quarter, with same-store sales climbing 10.8 percent from a year ago. The numbers were even better at company-owned locations, and Greifeld says his team's new franchising push is finding receptive ears.
“Our positive turnaround and growing success is attributable to our entire organization of talented people and to their ongoing commitment to creatively fulfill Captain D’s corporate value of providing our guests with an excellent dining experience every day. Our commitment to our guests – in everything we do - has elevated our guest experience and our brand alike,” said Phil Greifeld, CEO and President of Captain D’s.
The train Phil Greifeld has put on the rails at Captain D's isn't losing any steam despite renewed macroeconomic worries. The Nashville-based seafood chain posted its second straight same-store gain of 8.5 percent at company-owned stores, while growth at franchised stores rose more than 7 percent.
Captain D's CEO Phil Greifeld tells Nation's Restaurant News that his company set weekly sales records in February and posted same-store sales growth of about 8 percent in the first quarter. Even better, Greifeld says, is that the gains are coming mostly from getting more people in the door.
“We really committed ourselves to putting the guests first,” he said. “That’s enabled us to marshal our resources in a very united direction to improve all aspects of our business: restaurant execution, bringing in people with the drive to succeed, creative marketing, great products and great price points. The list goes on … but it’s about returning to basics with clean restaurants and friendly service.”
Captain D's Seafood CEO Phil Greifeld sat down recently with Nation's Restaurant News to discuss his 2011 successes — among them, same-store sales growth despite only one 1 percent price hike all year — and plans for the coming year and beyond. Near the top of the latter list is a renewed emphasis on franchising growth.
He characterized the move as a heightened new-store development effort after a hiatus to give improvement initiatives time to take hold, and said refranchising may play a limited part in the program.
The management team at Captain D's has a little something to celebrate these days. The Nashville-based company wrapped up 2011 with positive same-store sales for the first time since 2003. CEO Phil Greifeld says there's more in store for 2012, while new Chief Marketing Officer Jonathan Muhtar recently told a trade pub he plans to bring more strategic structure to the chain's marketing.
Saying its staff is "clearly on a different page" from newly hired Captain D's marketing chief Monte Jump, advertising agency Zimmerman has resigned the restaurant chain's account. The unit of global ad group Omnicom, which was brought on board less than two years ago, says it wants to work again with the company in the future "if the carnage is kept in control" while Jump is in charge of branding.
It is unfortunate that Captain D’s has brought on a new CMO that has a history of quick reviews and short stops on his resume. While we think there may be a correlation between those things, the ‘kiss my new ring’ game is one that we simply refuse to play.
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