Giggles N’ Hugs, Inc. (GIGL) Capitalizing on Rising Demand for Organic Dining Options with Family-Friendly Restaurant Chain
In recent years, consumer preference has shifted toward healthier, organic dining options, and the market has experienced rapid growth as a result. According to the Organic Trade Association, total sales of organic products in the United States surpassed $39 billion last year, marking an increase of more than 11 percent over 2013. As the use of synthetic pesticides and chemical fertilizers has increasingly drawn the ire of educated consumers around the country, a substantial opportunity for restaurants that provide high-end, organic food has emerged. Giggles N’ Hugs, Inc. (OTCQB: GIGL), through its innovative chain of family-friendly restaurants, has capitalized on this opportunity, recording steady financial growth while making preparations to expand its unique concept into viable markets around the nation.
In the second quarter of 2015, the company built on its recent results by recording a year-over-year increase in net sales. In particular, GIGL realized a 3.4 percent increase in private party rental revenues, recording more than $451,000 for the period, and posted a 5.5 percent year-over-year increase in net sales at its location in Glendale, California. Bolstered by this performance, GIGL is currently in negotiations with major mall owners around the country – including General Growth Properties (NYSE: GGP), Simon Property Group (NYSE: SPG) and Westfield Group (OTC: WEFIF) – to move forward with the opening of additional locations in the near future.
Last month, the company provided an update on its negotiations, which are focused on expanding its footprint along the West Coast. Initially, GIGL will target five properties in markets that include Seattle, San Francisco, San Diego and Orange County, but it has also indicated plans to expand to dozens of location in key markets moving forward, providing an opportunity to leverage a unique strategic advantage in areas with more diverse weather conditions.
“When it rains, which has not happened a lot here in Los Angeles, people tend to come indoors to Giggles N’ Hugs to play rather than go to the park or other outdoor spaces,” Joey Parsi, chief executive officer of GIGL, stated in a news release. “This unique aspect of our business should produce higher revenues and profit margins in markets like San Francisco and Seattle, driving strong shareholder value growth as we move forward with our expansion.”
GIGL is in a strong strategic position to continue building upon the success of its proven business model in the months to come as it continues to progress toward replicating the success of its first three locations in key markets around the country.
For more information, visit www.gigglesnhugs.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
In recent years, consumer preference has shifted toward healthier, organic dining options, and the market has experienced rapid growth as a result. According to the Organic Trade Association, total sales of organic products in the United States surpassed $39 billion last year, marking an increase of more than 11 percent over 2013. As the use of synthetic pesticides and chemical fertilizers has increasingly drawn the ire of educated consumers around the country, a substantial opportunity for restaurants that provide high-end, organic food has emerged. Giggles N’ Hugs, Inc. (OTCQB: GIGL), through its innovative chain of family-friendly restaurants, has capitalized on this opportunity, recording steady financial growth while making preparations to expand its unique concept into viable markets around the nation.
In the second quarter of 2015, the company built on its recent results by recording a year-over-year increase in net sales. In particular, GIGL realized a 3.4 percent increase in private party rental revenues, recording more than $451,000 for the period, and posted a 5.5 percent year-over-year increase in net sales at its location in Glendale, California. Bolstered by this performance, GIGL is currently in negotiations with major mall owners around the country – including General Growth Properties (NYSE: GGP), Simon Property Group (NYSE: SPG) and Westfield Group (OTC: WEFIF) – to move forward with the opening of additional locations in the near future.
Last month, the company provided an update on its negotiations, which are focused on expanding its footprint along the West Coast. Initially, GIGL will target five properties in markets that include Seattle, San Francisco, San Diego and Orange County, but it has also indicated plans to expand to dozens of location in key markets moving forward, providing an opportunity to leverage a unique strategic advantage in areas with more diverse weather conditions.
“When it rains, which has not happened a lot here in Los Angeles, people tend to come indoors to Giggles N’ Hugs to play rather than go to the park or other outdoor spaces,” Joey Parsi, chief executive officer of GIGL, stated in a news release. “This unique aspect of our business should produce higher revenues and profit margins in markets like San Francisco and Seattle, driving strong shareholder value growth as we move forward with our expansion.”
GIGL is in a strong strategic position to continue building upon the success of its proven business model in the months to come as it continues to progress toward replicating the success of its first three locations in key markets around the country.
For more information, visit www.gigglesnhugs.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
