Meritage Hospitality Group Inc. (OTCQX: MHGU) announced the opening of its 120th restaurant located on Argyle Road in Jacksonville, FL.
The new Wendy's restaurant represents the Company's third "Image Activation" restaurant but its first Image Activation built new from the ground up.
Robert Schermer, Jr., CEO of Meritage Hospitality Group, stated, "Meritage remains committed to image activation in both its new store development program and with the modernization and re-imaging of its existing Wendy's restaurant portfolio."
The Company reiterated its 2014 Outlook, which included:
- Sales growth of 10% to 15%
- Net Income growth of 50% to 55%
- EBITDA growth (a non-GAAP measure) of 30% to 35%
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