The company estimates that systemwide same-store sales for its third fiscal quarter ended May 31, 2018 were approximately flat with the prior-year quarter. The company reiterates its second-half fiscal year 2018 systemwide same-store sales guidance of flat to up 2%.
West Coast Ventures Group Corp. (OTCQB: WCVC) announced today that Company online marketing and advertising initiatives are generating higher year over year sales.
Total revenue increased 12.7% to $102.1 million. Comparable restaurant sales decreased 2.3%.
Gordon Ramsay’s restaurant group, which includes Savoy Grill and Petrus, has been burnt by weaker sales and plans to close Maze, in Mayfair, London.
Earnings from continuing operations were $25.0 million, or $0.85 per diluted share, for the second quarter of fiscal 2018 compared with $31.4 million, or $1.01 per diluted share, for the second quarter of fiscal 2017.
Revenue increased 14% to $1,246,662 for Q1 2018 from $1,088,796 for Q1 2017. Income from operations was $48,308 during Q1 2018 compared to $210,392 during Q1 2017.
Comparable sales for owned and managed US STK restaurants increased 7.3%
Total revenues for the three-month period ended March 31, 2018 were $35,276,000 versus $34,640,000 for the three months ended April 1, 2017. The three-month period ended March 31, 2018 includes revenues of $1,272,000 related to Sequoia DC which was closed for renovation for the entire three-month period ended April 1, 2017.
Total Revenue declined $8.7 million to $70.9 million – On a comparable calendar basis, system-wide comparable store sales declined 0.4%.
Comparable Sales growth of 9.8% supports 12.5% growth in Adjusted EBITDA and 60 basis point expansion in Adjusted EBITDA Margin (excluding Venezuela).