Wetzel’s Pretzels announced highlights and financial results for its fiscal year 2017 along with its outlook for fiscal year 2018. With more than 340 locations now open, the brands’ aggressive growth across traditional and non-traditional units as well as various partnerships with established retail centers ensure a robust new store opening pipeline for 2018, as Wetzel’s seeks to continues its same-store sales growth trend.
2017 Highlights:
- Achieved comparable same-store sales increases of 1.5 percent
- Opened 30 units, with eight of them East of the Mississippi and 13 of those new units being non-traditional venues, demonstrating the brand’s ability to find success beyond traditional mall buildouts.
- Deal signed with a Canada-based multi-unit franchise partner to bring Wetzel’s to guests up North, with four store openings already in the development pipeline
- Walmart partnership continued to flourish with multiple openings in the retail giant’s locations in various states
2018 Outlook:
- Continued traditional growth, bringing Wetzel’s famous West Coast pretzel to areas where the brand sees tremendous white space, specifically in Texas, Florida, New York/New Jersey, Colorado and Ohio, as well as Canada
- Updated kiosk and store design rolling out system wide, co-designed in partnership with one of the biggest mall landlords in the country
- Launch of “Party Packs” catering program to tap into consumer trends and demand for delivery and catering
- Traffic-driving rewards delivered via the Wetzel’s Pretzel app, which features a generous loyalty program
- Nontraditional unit growth in airports, transit stations, colleges and universities
- Food truck to bring the Wetzel’s Pretzel’s experience to community and celebratory events
- Developing multiple new international partnerships
“In a year where ‘flat was the new normal’ for restaurants, and retail struggled, Wetzel’s continued to see topline sales growth,” says Bill Phelps, co-founder and CEO of Wetzel’s Pretzels. “For consumers, we offer the freshest product, made daily with simple ingredients from scratch. For our multi-unit franchise partners, our tenacious focus on franchisee profitability is the True North that guides this brand, and on the landlord side, we’ve reimaged our inline and kiosks locations to further drive excitement and traffic. Separately, as Wetzel’s offers various buildouts, we’re able to work with unique spaces to drive additional revenue thanks to strong unit economics.”
