Competition cramps Country Style

Country-Style-Cooking-Restaurant-Chain

Country Style Cooking Restaurant Chain, a quick service restaurant operator in China, says sales fell in the third quarter, despite the opening of 10 new outlets.

In the three months to September 30, the company expanded its network to 355 restaurants,a net 23 more than a year ago. The new openings included six under the brand name Mr Rice.

Country Style Cooking said it currently anticipates its revenue for the third quarter of 2015 to be about RMB388 million (US$61 million), compared to RMB409.1 million (US$64 million) in the same quarter of 2014.

“The lower-than-expected revenue was mainly due to the intensified competition, which also negatively impacted the company’s quarterly same store sales,” it said in a statement.

It plans to report its third quarter 2015 results in mid-November.

Country Style directly operates all of its restaurants under brands of CSC and Mr. Rice and is the largest quick service restaurant chain in Chongqing municipality, the home of Sichuan cuisine.

Source: insideretail.asia