Giggles N’ Hugs, Inc. (GIGL) in Active Negotiations to Expand Footprint on the West Coast
Giggles N’ Hugs is revolutionizing the market for ‘kid-friendly’ restaurants by combining high-quality, healthy food options with exciting, entertaining environments. In February 2008, the company opened its first location in Brentwood, California, and achieved immediate success. Within two years, GIGL was approached by Westfield Corp. (OTC: WEFIF) with an expansion proposal outlining a possible nationwide rollout. Currently, the company operates three locations serving the Greater Los Angeles area, and it’s preparing for another wave of expansion.
“We’re very excited to enter our next phase of operations and to begin replicating the success we’ve experienced with our first three locations in Los Angeles,” Joey Parsi, founder and chief executive officer of GIGL, stated in a news release. “While we’re doing great in Southern California, where we’re known for our warm weather and sunny climate, we anticipate our results will be even better in markets where the weather is often less than ideal.”
In a recent news release, GIGL announced that it was in active negotiations with several of the largest mall owners in the country – including General Growth Properties (NYSE: GGP) and Simon Property Group (NYSE: SPG). These negotiations are focused on expanding the company’s footprint on the West Coast, with target markets such as Seattle, San Francisco and San Diego being highlighted as areas of considerable interest.
Additional GIGL locations are particularly appealing to mall operators, as the company’s family-friendly concept has been to shown to greatly improve foot traffic. These benefits were demonstrated in 2010, when GIGL secured a favorable agreement in exchange for opening its Westfield Century City Mall location. In that case, the mall agreed to pay 60 percent of construction costs in addition to meeting other, unspecified, concessions. The company is seeking a similar deal for any new locations, with significant discounts from current market rents and attractive tenant allowances serving as key factors in ongoing negotiations.
As GIGL has demonstrated in recent years, demand for healthy, family-friendly dining options is at an all-time high, and, according to a study by NPD CREST research, children are eating more healthy food options than ever before. Look for the company to continue capitalizing on this market performance as it seeks to expand its national footprint in the coming months. For prospective shareholders, these efforts could translate into an opportunity for GIGL to realize sustainable returns for the foreseeable future.
For more information, visit www.gigglesnhugs.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
Giggles N’ Hugs is revolutionizing the market for ‘kid-friendly’ restaurants by combining high-quality, healthy food options with exciting, entertaining environments. In February 2008, the company opened its first location in Brentwood, California, and achieved immediate success. Within two years, GIGL was approached by Westfield Corp. (OTC: WEFIF) with an expansion proposal outlining a possible nationwide rollout. Currently, the company operates three locations serving the Greater Los Angeles area, and it’s preparing for another wave of expansion.
“We’re very excited to enter our next phase of operations and to begin replicating the success we’ve experienced with our first three locations in Los Angeles,” Joey Parsi, founder and chief executive officer of GIGL, stated in a news release. “While we’re doing great in Southern California, where we’re known for our warm weather and sunny climate, we anticipate our results will be even better in markets where the weather is often less than ideal.”
In a recent news release, GIGL announced that it was in active negotiations with several of the largest mall owners in the country – including General Growth Properties (NYSE: GGP) and Simon Property Group (NYSE: SPG). These negotiations are focused on expanding the company’s footprint on the West Coast, with target markets such as Seattle, San Francisco and San Diego being highlighted as areas of considerable interest.
Additional GIGL locations are particularly appealing to mall operators, as the company’s family-friendly concept has been to shown to greatly improve foot traffic. These benefits were demonstrated in 2010, when GIGL secured a favorable agreement in exchange for opening its Westfield Century City Mall location. In that case, the mall agreed to pay 60 percent of construction costs in addition to meeting other, unspecified, concessions. The company is seeking a similar deal for any new locations, with significant discounts from current market rents and attractive tenant allowances serving as key factors in ongoing negotiations.
As GIGL has demonstrated in recent years, demand for healthy, family-friendly dining options is at an all-time high, and, according to a study by NPD CREST research, children are eating more healthy food options than ever before. Look for the company to continue capitalizing on this market performance as it seeks to expand its national footprint in the coming months. For prospective shareholders, these efforts could translate into an opportunity for GIGL to realize sustainable returns for the foreseeable future.
For more information, visit www.gigglesnhugs.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
