Country Style Cooking Restaurant Chain Announces Preliminary Fourth Quarter 2013 Results
- January, 14 2014
- Country Style Cooking
Country Style Cooking Restaurant Chain Co., Ltd (NYSE: CCSC), a fast-growing quick service restaurant chain in China, today announced preliminary fourth quarter 2013 results.
The Company currently anticipates slightly beating the top range of its previous revenue guidance of RMB325-335 million ($53.2-$54.8 million), compared to RMB296.5 million ($47.6 million) in the fourth quarter of 2012, representing year-over-year growth of at least 13%. Same store sales growth in the fourth quarter of 2013 is expected to be in the mid-single digits. The Company also expects to report improved year-over-year operating profit and net income in the fourth quarter of 2013.
For the fourth quarter ended December 31, 2013, the Company opened 20 restaurants, bringing the total net restaurant count to 293, compared to a total restaurant count of 256 as of December 31, 2012. The new openings include 15 restaurants under the brand name "Country Style Cooking" and 5 under the brand name "Mr. Rice." For the full year of 2013, 59 new stores were opened.
Country Style Cooking plans to report its fourth quarter and fiscal year 2013 results in late February.
Country Style Cooking Restaurant Chain Co., Ltd. (NYSE: CCSC) ("Country Style Cooking") is a fast-growing quick service restaurant chain in China, offering delicious, everyday Chinese food to customers who desire fast and affordable quality meals. Country Style Cooking directly operates all of its restaurants and is the largest quick service restaurant chain in Chongqing municipality, home to Sichuan cuisine, one of the best-known Chinese regional cuisines.
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