HAMILTON TOWNSHIP, N.J., Aug. 26 /PRNewswire-FirstCall/ -- New World
Restaurant Group, Inc. (Pink Sheets: NWCI) is continuing to expand the reach
of its Einstein Bros quick casual brand with openings of three new licensed
locations in August and five additional openings planned for September. The
company expects to open a total of approximately 25 Einstein Bros licensed
locations during calendar 2003.
Working in partnership with leading dining services managers/providers
such as Sodexho and ARAMARK (NYSE: RMK), New World's Einstein Bros is becoming
a familiar sight on college campuses across the country. In August, Einstein
Bros outlets were opened by Sodexho at Stetson University, Deland, Fla.; the
University of South Carolina in Columbia; and the University of Pittsburgh, in
Pittsburgh, Penn.
At the end of 2002, New World had 26 licensed outlets in non-traditional
locations. These included 24 licensed Einstein Bros and two licensed Noah's
New York Bagels outlets operating on college campuses, hospitals, airports and
other venues across the country. With the openings anticipated for September
and the fourth quarter, the number of licensed outlets will be nearly doubled
by the end of 2003. Earlier this year, ARAMARK opened the first licensed
Noah's unit on a college campus, at Portland State University in Oregon. In
May, the University of Southern California in Los Angeles opened an Einstein
Bros store in the new Zilkha Neurogenetic Institute on its health sciences
campus.
"Our licensing program is one of the key initiatives we are developing to
capitalize on the growing strength of our flagship brands in the quick casual
restaurant segment. Our licensing partners' ability and desire to expand the
reach of the Einstein Bros and Noah's brands on college campuses and within
other high-traffic, non-traditional venues, is gaining momentum," said Greg
Powell, New World vice president-franchising and business development.
"Additionally, we continue to look in new directions to expand upon Einstein
Bros' strong brand recognition in the marketplace. Our growing presence in
over 100 Super Target (NYSE: TGT) stores across the country, coupled with our
evolving partnership with LSG Skychefs in which Einstein Bros branded meals
are currently served on 300-plus USAir flights daily, further reinforces
Einstein Bros as a dominant brand in the quick casual marketplace."
New World is a leading company in the quick casual sandwich industry, the
fastest growing restaurant segment. The company operates locations primarily
under the Einstein Bros and Noah's New York Bagels brands and primarily
franchises locations under the Manhattan Bagel and Chesapeake Bagel Bakery
brands. As of July 1, 2003, the company's retail system consisted of 462
company-operated locations, as well as 249 franchised, and 28 licensed
locations in 33 states. The company also operates dough production and coffee
roasting facilities.
Certain statements in this press release constitute forward-looking
statements or statements which may be deemed or construed to be
forward- looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. The words "forecast," "estimate," "project,"
"intend," "expect," "should," "would," "believe" and similar expressions and
all statements which are not historical facts are intended to identify
forward-looking statements. These forward-looking statements involve and are
subject to known and unknown risks, uncertainties and other factors which
could cause the company's actual results, performance (financial or
operating), or achievements to differ from the future results, performance
(financial or operating), or achievements expressed or implied by such
forward-looking statements. The above factors are more fully discussed in the
company's SEC filings.
SOURCE New World Restaurant Group, Inc.