Country Style Cooking Restaurant Chain Co., Ltd (NYSE: CCSC), a fast-growing quick service restaurant chain in China, today announced preliminary first quarter 2014 results.
For the first quarter ended March 31, 2014, the Company opened a net total of 10 restaurants, bringing the total net restaurant count to 303, compared to a total restaurant count of 262 as of March 31, 2013. The new openings include 3 restaurants under the brand name "Mr. Rice."
The Company now anticipates beating the top range of its previous revenue guidance of RMB333-343 million ($55.0-$56.7 million), compared to RMB307.2 million ($49.5 million) in the first quarter of 2013, representing year-over-year growth of at least 11.6%. Same store sales growth in the first quarter of 2014 is expected to be in positive low-single digits. It expects improved operating margin and positive net income.
Country Style Cooking plans to report its first quarter 2014 results in mid May.
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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