China’s Country Style Cooking Restaurant Chain has added 10 more restaurants to its network in the last quarter.
The fast-growing quick service restaurant chain on Friday said it added 55 restaurants in all during the 2014 calendar year, taking its total to 337
The new openings last quarter included five eateries branded Mr Rice.
A scant release reaffirmed its previously announced 2014 fourth quarter financial guidance of net revenue in the range of RMB 355-375 million (US$57.8 to $61.1 million), representing year-over-year growth of between 5.5 per cent and 11.5 per cent.
The company said it expects to achieve positive operating income and net income in spite of single digit negative same store sales in the fourth quarter which was attributable to “customer traffic dilution as the company further penetrates the local market”.
Earlier this month, CCSC announced its COO and director Chao Sun would resign from his position due to personal reasons, effective January 31. He will be replaced by Xingqiang Zhang, currently a director.
Country Style Cooking Restaurant Chain offers tasty, everyday Chinese food to customers who desire fast and affordable yet quality meals. It directly operates all of its restaurants under brands of CSC and Mr Rice and is the largest QSR chain in Chongqing municipality, home to Sichuan cuisine.
The company’s shares are traded on the NYSE.
Source insideretail.asia