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Captain D's reached a record-breaking average unit volume and a fourth-quarter same-store sales increase of 5.7 percent at the end of 2014. The company's average-unit-volume growth marks the second year its unit volume has reached an all-time high, and its fourth quarter performance marks the fourth consecutive year of same-store sales growth.
Continuing a three-year momentum, Captain D's closed 2014 by reporting a 4.1 percent system-wide same-store sales increase for the year. Along with franchise signings and openings, unit growth was further fueled by the opening of one company-owned restaurant—the first in several years. Captain D's has plans to continue its mounting growth strategy during 2015, the first opening planned for the second quarter in Florida.
"Our significant accomplishments this year are a direct result of our collective team focused on delivering an unmatched experience for our guests nationwide," says Phil Greifeld, CEO and president of Captain D's. "Over the past couple of years, we've built a tremendous amount of momentum that we intend to leverage into 2015 and beyond."
Captain D's attributes the company's success to its ongoing menu innovation and new restaurant design, which exudes a coastal atmosphere. In 2014, 31 franchised restaurants were remodeled with an additional 57 scheduled for completion in 2015. Captain D's locations nationwide also upgraded their menu with new fire-grilled items to satisfy guests' desire for lower calorie options. The company's award-winning For the Love of D's marketing campaign elevated awareness of the new upgrades and drove incremental traffic into its restaurants.
Captain D's improvements have driven sales growth across the U.S. with several locations in Tennessee, Georgia, West Virginia, North Carolina, South Carolina, Florida, and Kentucky experiencing double-digit gains since last year.
"This past year was remarkable for Captain D's, and our strong unit-level economics continue to make us one of the most attractive fast-casual brands for operators who are looking for a proven, innovative franchise concept," Greifeld says.
Captain D's intends to leverage this momentum to continue growth across the country, specifically in the Southeast and Midwest.