The Smith & Wollensky Restaurant Group Announces August Sales
30 Agosto 2004 - 6:05PM
PR Newswire (US)
The Smith & Wollensky Restaurant Group Announces August Sales
NEW YORK, Aug. 30 /PRNewswire-FirstCall/ -- The Smith &
Wollensky Restaurant Group, Inc. (NASDAQ:SWRG) today announced
sales for the fiscal month August 2004. Total consolidated
restaurant sales for the month ended August 23, 2004 were
approximately $7.3 million, an increase of 6.5% from August 2003.
Comparable consolidated restaurant sales decreased 0.8% to $6.8
million, as compared to the $6.9 million for August 2003.
Comparable consolidated sales include only units that have been
open for 15 months or longer. Chairman and CEO Alan Stillman said,
"Given the Company's past twenty-five consecutive months of sales
increases, we are disappointed with the August figures, which we
attribute in part to heightened security concerns among business
and leisure travelers, as well as unusual weather in Southern
Florida. We continue to concentrate on the anticipated opening of
the Boston unit in September and the promotion of our other owned
New York concepts." About Smith & Wollensky Restaurant Group
The Smith & Wollensky Restaurant Group develops, owns and
operates high- end, high-volume restaurants in major cities across
the United States. The original Smith & Wollensky, a
traditional New York steakhouse, opened in 1977 and is currently
believed to be the largest-grossing a la carte restaurant in the
country. Since its inception, the company has grown to include 17
restaurants, including Smith & Wollensky in New York, Miami
Beach, Chicago, New Orleans, Las Vegas, Washington, D.C.,
Philadelphia, Columbus, Dallas and Houston. SWRG also operates
seven other restaurants in New York and Chicago, including Cite,
Maloney & Porcelli, Manhattan Ocean Club, Mrs. Park's Tavern,
ONEc.p.s., Park Avenue Cafe and The Post House. Except for
historical information contained herein, the statements made in
this press release regarding the Company's business, strategy and
results of operations are forward-looking statements which are
based on management's beliefs and information currently available
to management. Readers are cautioned not to put undue reliance on
such forward-looking statements, which are subject to a number of
risks and uncertainties that could cause actual results to differ
materially from such statements. Factors that may cause such
differences include changes in economic conditions generally or in
each of the markets in which the Company is located, unanticipated
changes in labor or food costs, changes in consumer preferences,
the level of competition in the high-end segment of the restaurant
industry and the success of the Company's growth strategy. For a
more detailed description of such factors, please see the Company's
filings with the Securities and Exchange Commission. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. DATASOURCE: The Smith & Wollensky
Restaurant Group, Inc. CONTACT: Investors, Allison Good, The Smith
& Wollensky Restaurant Group, +1-212-838-2061, Web site:
http://www.smithandwollensky.com/
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