The Pickle at .05?
The idea is good. New openings should help but we hear that the O/S may be increasing and, perhaps, expenses way too high.
Early, this month SPKL reported the 6-month results. You be the judge:
"Spicy Pickle Franchising, Inc. (OTCBB: SPKL), fast casual restaurant operator and franchisor of its Spicy Pickle and Bread Garden Urban Café brands, announced today its results for the second quarter and six months ended June 30, 2010.
Revenue for the second quarter totaled $1,215,441, almost even with the $1,223,858 in the year ago second quarter. Franchise fees and royalties for the quarter rose to $541,378 compared with $493,413 in the same quarter 2009. The company noted that a majority of its revenue is derived from its owned restaurants. In May, 2010, Spicy Pickle closed one of its restaurants and is looking for a site to relocate it. Therefore, the second quarter ended with six company owned stores operating versus seven at the end of the second quarter a year ago. For the six months, revenues amounted to $2,188,592 versus $2,227,453 for the same period a year earlier. Franchise fees and royalties for the six months were $895,832, up from $798,388 for the first half of 2009."
alen |
