GIGL News 01/17/2017 - 0.0159
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Giggles N' Hugs Inc. $GIGL News
Last updated 01/17/2017 - 0.0159
Giggles N’ Hugs, Inc. (GIGL) engages Kiddos, Inc. and Michelle Steinberg of dOMAIN Integrated to Launch New Marketing and PR Initiatives
Jun 23, 2016
OTC Disclosure & News Service
-
Los Angeles, June 23, 2016 (GLOBE NEWSWIRE) -- Giggles N' Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end organic food with cutting-edge play and entertainment for children, announces it has elevated its marketing and public relations (PR) strategies with the engagement of Kiddos, Inc. and Michelle Steinberg of dOMAIN Integrated, one of the top agencies for entertainment, hospitality and lifestyle in PR, licensing, merchandising and corporate branding.
As one of the top PR professionals and a highly sought-after marketing executive and influencer, Steinberg has an impressive history of successfully assisting numerous A-list celebrities and major corporate brands with product launches and various other ventures. Her experience includes launching several renowned restaurant brands, including TAO restaurants, the Palazzo Hotel, House of Blues and Planet Hollywood and All Star Cafe, among many others where she was responsible for all PR and marketing strategies. She also introduced these brands to some of the biggest A list talent in Hollywood, many of whome becoming investors in the concepts.
Steinberg has also handled product launches for many celebrity brands, including, Elton John, Nicole Richie, Jennifer Hudson as well as many others and currently works with corporate clients across the hospitality, lifestyle, fashion and beauty spaces, including iconic brands such as Volkswagen, TAO Group, The Los Angeles Lakers, Forevermark, a De Beers Company, Crocs, Kohl's, Bruno Magli and Ben Sherman among others.
Leveraging astute capabilities and significant industry relationships, Steinberg will likewise introduce the Giggles N’ Hugs brand to a targeted audience of investors, media professionals, manufacturers, retailers, advertisers, designers, distributers and consumers.
“We offer a highly specialized, unique restaurant concept that is increasingly popular among the general public and celebrity consumers in Southern California,” says Giggles N’ Hugs founder and CEO Joey Parsi. “While strategizing how to increase our market penetration throughout the rest of the country, we scoured the PR field for an individual or company on par with our exceptional restaurant concept and desired trajectory. We found exactly the caliber of partnership we were looking for with Kiddos and Steinberg.”
In addition to strengthening Giggles N’ Hugs’ overall brand strategy, Steinberg will assist with the market launch of new restaurant locations, services and products at a grassroots level in several major markets nationwide, including New York, Miami, Chicago and Los Angeles.
Steinberg will also aid with various components of launching the Company’s licensing and merchandising, in the food and beverage industry, children’s clothing, toys and baby products, children’s furniture and introducing the company to the many relationships, and clients they have and much more.
“We are extremely excited to have Steinberg and dOMAIN Integrated as part of our team, and look forward to the positive components we expect it to generate for the Giggles N’ Hugs brand and shareholders,” says Parsi. “With dOMAIN Integrated's capabilities, we have defined a powerful campaign strategy that we believe will efficiently and quickly get our story out to the masses.”
About Giggles N' Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special. For more information, visit www.gigglesnhugs.com
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"
. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.Contact:
INVESTORS RELATIONS CONTACT:
michelle steinberg
d O M A I N N E W Y O R K
601 West 26th St. Suite #1750
New York, NY 10001
O: 212.675.0012
d O M A I N L O S A N G E L E S
7381 Beverly Blvd. Suite #100
Los Angeles, CA 90036
O: 323-549-0012
Joey Parsi - Founder/CEO Giggles N Hugs
Joey@gigglesnhugs.com
Copyright © 2016 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Repeat: Giggles N Hugs to present at the 9th annual LD Micro Conference main event
May 18, 2016
OTC Disclosure & News Service
-
Los Angeles, May 18, 2016 (GLOBE NEWSWIRE) -- Giggles N' Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, will be presenting at the 9th annual LD Micro conference main event on Thursday, June 9, 2016. The company and its management will also be available for one on one meetings throughout the three day event from June 6th through the 9th.
"We're excited to present at the LD Micro Conference main event," commented Joey Parsi, founder and CEO of Giggles N' Hugs. "With our Century City location just a few minutes away from the conference site, this is a great opportunity for us to meet with bankers, brokers, analysts and investors right here in our backyard."
The conference will be held at the Luxe Sunset Bel Air Hotel and will feature 200 companies in the small / microcap space. The LD MICRO conference has steadily grown each year since its inception in 2010 to become one of the premier conferences in the country. This year the LD MICRO will be hosting approximately 200 presenting micro-cap growth companies and over 1,000 people including top investment banks, private equity and hedge funds, analysts, brokers and most importantly institutional and retail investors who will be attending the event.
Event: 9th annual LD micro main event
When: Thursday, June 9th, 2016
Location: Luxe Hotel - Sunset Blvd
About Giggles N' Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC" . Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
CONTACT: INVESTORS RELATIONS CONTACT:
Joey Parsi
Founder/CEO
Giggles N Hugs
Joey@gogglesnhugs.com
Copyright © 2016 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Giggles N' Hugs, Inc. (GIGL) CEO Discusses 2016 Growth Strategies in Second QualityStocks Interview
Jan 26, 2016
OTC Disclosure & News Service
-
Giggles N' Hugs, Inc. (GIGL) CEO Discusses 2016 Growth Strategies in Second QualityStocks Interview
SCOTTSDALE, AZ--(Marketwired - Jan 26, 2016) - QualityStocks today announces the availability of a new audio interview with Joey Parsi, founder and chief executive officer of Giggles N' Hugs, Inc. (OTCQB: GIGL). The interview recapping the company's achievements in 2015, outlook for 2016, and opportunity to invest in its growth, can be heard at http://www.qualitystocks.net/interview-gigl2.php.
Last year was a busy and productive season for Giggles N' Hugs, and Parsi begins the QualityStocks interview by explaining the company's success in streamlining operations, dramatically improving margins, and increasing year-over-year sales.
Building on its 2015 achievements and recent engagement of Chardan Capital Markets LLC, Giggles N' Hugs is well-positioned to execute its 2016 growth initiatives.
"We recently engaged Chardan Capital as our investment bank to go out and raise some capital for us so that we can expand ... to multiple locations throughout the United States ... just as importantly, we're also looking to finally launch our massive franchising program," Parsi explains in the interview.
Giggles N' Hugs has received hundreds of inquiries from interested parties looking to replicate the company's concept and success in various locations around the world.
"We're in a very enviable position in that in the restaurant world ... they say there's three reasons for success. And that's location, location and location. For us, that seems to be the best part of our opportunity going forward," says Parsi.
On the topic of location, Giggles N' Hugs has also caught the eye of several of the nation's largest mall landlords, including Westfield, which has made available its entire portfolio of malls for Giggles N' Hugs to consider as future locations. Westfield in particular is also offering the company a tenant allowance to drastically cut opening and rent costs - all in the name of leveraging Giggles N' Hugs tremendous ability to generate foot traffic at each location.
Moving forward, Giggles N' Hugs aims to raise $5 million through a 506C offering, which will enable the company to fund its 2016 growth initiatives.
"We need capital; obviously that's a primary need for any young company like Giggles N' Hugs, which is on this massive growth spurt ... if you're interested in investing in Giggles N' Hugs, please contact us at info@gigglesnhugs.com and we'll be sure to send you all the investment information so that you can make a decision as to whether or not Giggles N' Hugs represents a good opportunity," concludes Parsi.
About Giggles N' Hugs, Inc.
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
For more information on GIGL visit: http://GIGL.QualityStocks.net
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Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Giggles N’ Hugs Signs Agreement with New York-Based Chardan Capital Markets
Dec 01, 2015
OTC Disclosure & News Service
-
Los Angeles, Dec. 01, 2015 (GLOBE NEWSWIRE) --
Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, has engaged Chardan Capital Markets, LLC (“Chardan”) a boutique investment bank headquartered in New York.
Under the agreement, Chardan will introduce Giggles N’ Hugs to potential investors and business partners, advise and assist management in preparing for presentations to financial sources, as well as perform a wide variety of financial advisory services.
“We are extremely pleased to have reached this agreement with Chardan Capital Markets,” said Joey Parsi, Founder and CEO of Giggles N’ Hugs. “As we continue to grow and expand our reach in markets throughout the country and the world, we look forward to working with Chardan to assist in taking our company to the next level through their capital markets and financial advisory expertise. In addition, markets permitting, we plan to take the necessary steps to position Giggles N’ Hugs for an up-listing to a national exchange in 2016.”
Chardan specializes in providing the entire gamut of investment banking, trading and equity research, with a particular emphasis on micro-cap emerging growth companies. With over $13.0 billion raised through more than 250 transactions, Chardan has developed a successful record of completing a wide variety of deals. In the process, Chardan has become a leader on capital solutions for emerging growth companies.
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special. www.gigglesnhugs.com.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC" . Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
INVESTORS RELATIONS CONTACT:
Bruce Haase
RedChip Companies, Inc.
800.733.2447, ext. 131
bruce@redchip.com
Joey Parsi
Founder/CEO
Giggles N Hugs
Joey@gigglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Giggles N Hugs to present at the 8th annual LD Micro Conference main event
Nov 30, 2015
OTC Disclosure & News Service
-
Los Angeles, Nov. 30, 2015 (GLOBE NEWSWIRE) -- Giggles N' Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, will be presenting at the 8th annual LD Micro conference main event on Thursday, November 3, 2015 at 4:30 PM. PT. The company and its management will also be available for one on one meetings throughout the three day event from December 1st through the 3rd.
"We're excited to present at the LD Micro Conference main event," commented Joey Parsi, founder and CEO of Giggles N' Hugs. "With our Century City location just a few minutes away from the conference site, this is a great opportunity for us to meet with bankers, brokers, analysts and investors right here in our backyard."
The conference will be held at the Luxe Sunset Bel Air Hotel and will feature 185 companies in the small / microcap space. The LD MICRO conference has steadily grown each year since its inception in 2010 to become one of the premier conferences in the country. This year the LD MICRO will be hosting approximately 185 presenting micro-cap growth companies and over 1,000 people will be attending the event.
Event: 8th annual LD micro main event
When: Thursday, December 3rd, 2015
Time: 4:30pm Pacific time
Location: Luxe Hotel - Sunset Blvd
About Giggles N' Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC" . Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
CONTACT: INVESTORS RELATIONS CONTACT:
Bruce Haase?
RedChip Companies, Inc.?
800.733.2447, ext. 131?
bruce@redchip.com
Joey Parsi
Founder/CEO
Giggles N Hugs
Joey@gogglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Westfield seeks to expand partnership with Giggles N Hugs
Oct 20, 2015
OTC Disclosure & News Service
-
Los Angeles, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, receives praise from Westfield, one of the largest mall owners and operators in the world and seeks to expand the existing partnership in place by offering the company their entire portfolio of malls for consideration for future locations.
“Based on the performance we have seen from Giggles N’ Hugs, contributing to the overall family foot traffic, making the kids corridor a vibrant part of the mall, as well as helping us turn both Century City and Topanga malls into major family destinations, we know there is more business to do with your Company,” stated Shannon Westmore, VP of Leasing for Westfield.
As part of its global portfolio, Westfield designs, develops, owns, manages and leases award-winning shopping venues in landmark cities around the world. Among the company’s iconic retail destinations are Westfield London, Westfield Stratford City in the U.K., Westfield San Francisco Centre, Westfield Century City where Giggles N Hugs currently has its flagship location , and Westfield Garden State Plaza.
Westfield also develops superior customer experiences in flagship airports across the U.S. by developing cutting-edge environments that capture each city’s distinct style and spirit, integrating food, fashion, entertainment and world-class amenities, and using technology to enhance the passenger journey. Current developments include JFK, LAX, Newark, George Bush Intercontinental, Boston Logan, Orlando, Miami, and Chicago O’Hare airports.
Westmore continued, “Westfield is thrilled to have Giggles N Hugs as a tenant and would like to strengthen our relationship with Giggles N Hugs by having more locations in our shopping centers and airports.”
“This is a major stamp of approval from Westfield, and the fact that they are making available to us their entire worldwide portfolio of malls is a testament to what we bring to the table for them,” stated Joey Parsi, founder and CEO of Giggles N’ Hugs. “With the unbelievable management team we now have in place, and having one of the most unique concepts in the restaurant industry, as well as the deals and opportunities we are getting from Westfield and all the other major mall owners, we are ready to explode onto the national scene first with multiple locations in some of the best properties in the country and ultimately around the world.”
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC" . Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
INVESTORS RELATIONS CONTACT:
Bruce Haase
RedChip Companies, Inc.
800.733.2447, ext. 131
bruce@redchip.com
COMPANY CONTACT:
Joey Parsi
Founder/CEO
Giggles N’ Hugs Inc.
Joey@gigglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Giggles N’ Hugs Announces Second Quarter 2015 Financial Results
Aug 25, 2015
OTC Disclosure & News Service
-
Los Angeles, Aug. 25, 2015 (GLOBE NEWSWIRE) --
Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, announces its financial results for the thirteen weeks ended June 28, 2015.
Second Quarter Highlights:
Net sales at Glendale Galleria location increased 5.5% year-over-year
Private party rentals and other sales increased 3.4% year-over-year to $451,258
Total net sales increased 0.8% year-over-year to $830,812
“The recent additions to our management team, Philip Gay as chief business development officer and John Kaufman as interim-president, have brought a tremendous level of experience and leadership to Giggles N’ Hugs in the few short months they’ve been on board,” commented Joey Parsi, founder and CEO of Giggles N’ Hugs. “Having worked together previously in their roles as CFO and COO respectively at California Pizza Kitchen, where they helped grow the chain from two locations to more than 70, they are helping us immensely as we prepare for our expansion on the West Coast and beyond.”
Parsi continued, “Together with the help of Todd Star, the former head of west coast leasing at Westfield USA who is now spearheading our negotiations with all the major mall owners in the country, we’re moving forward on our plans to open new locations in markets like Seattle and San Francisco in the north and San Diego and Orange County in the south., With the expected significant discounts from current market rents as well as attractive tenant allowances that have been offered, we should see great reductions in construction costs and rent for the new locations.”
“We also continue to receive substantial interest from large multi-unit franchising operators and small individual franchisees, both domestically and internationally. This is an area that represents immense growth potential for Giggles N’ Hugs, and will provide very attractive margins , and complements our core company-owned expansion plans. With John and Philip’s extensive experience in the franchising space, with John serving as President of Koo Koo Roo Chicken and Philip serving as CFO at California Pizza Kitchen, and interim CEO at Wolfgang Puck Foods, I believe this will be an area that brings solid improvements to shareholder value as we execute.” With what I consider to be an all star management team we now have in place, we are very excited about what the future holds for Giggles N Hugs, Parsi Concluded".
Net sales for the thirteen weeks ended June 28, 2015 and June 29, 2014 were $830,812 and $824,611 respectively. The marginal increase of 0.8% was due primarily to a continuing trend for higher party rentals. The net sales consist of revenue from food and beverages, private party rentals, fees for access to the children’s play area, sales from membership cards (of varying terms), sales from Giggles N’ Hugs-branded merchandise, net of allowances, returns and discounts. Sales were up 3.4% for private party rentals and other sales, offsetting the higher allowances, returns and discounts. The Glendale location showed the highest increase of 5.5% over the comparable period from last year, which offset the slightly lower sales from the other locations.
Costs related to food purchases, supplies and general restaurant operations decreased 7.6% to $212,038 during the thirteen weeks ended June 28, 2015, compared to $229,570 for the thirteen weeks ended June 29, 2014. We were able to achieve this even though many commoddities we use have increased in price. Any future increase in costs of certain commodities could adversely impact operations unless such price increases are passed on to the Company’s guests.
Labor expenses for the thirteen weeks ended June 28, 2015 and June 29, 2014, were $336,877, and $315,747, respectively, reflecting an increase of 6.7%. Despite constant pressure for increased wages, the Company was successful in keeping labor costs at around 39% of revenue, which is in-line with comparable periods.
The net loss for the thirteen weeks ended June 28, 2015 decreased 0.5% to $474,826, compared to a net loss of $477,309 for the thirteen weeks ended June 29, 2014. Management believes losses will continue to be reduced and profitability will be attained in future quarters as the popularity of its restaurants increases.
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
For more information, visit www.gigglesnhugs.com
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC" . Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Adjusted Store-Level Net Loss (non-GAAP) Reconciliation
2Q15 2Q14
Net sales, as reported $ 830,812 $ 824,611
Total operating expenses, as reported $ 860,829 $ 854,765
Add back depreciation & amortization ($ 93,753 ) ($ 86,966 )
Other expenses
General & administrative $ 63,332 $ 59,359
Finance & interest expense $ 5,006 $ 14,744
Gain on debt modification ($ 69,228 ) -
Total costs & operating expenses $ 766,186 $ 841,902
INVESTORS RELATIONS CONTACT:
Bruce Haase
RedChip Companies, Inc.
800.733.2447, ext. 131
bruce@redchip.com
COMPANY CONTACT:
Joey Parsi
Founder/CEO
Giggles N’ Hugs Inc.
Joey@gigglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Giggles N’ Hugs Advances Negotiations with largest National Mall Owners
Aug 11, 2015
OTC Disclosure & News Service
-
Los Angeles, Aug. 11, 2015 (GLOBE NEWSWIRE) -- Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, today reports it has been in active negotiations for its expansion with several of the largest mall owners in the U.S., including General Growth Properties, Simon Property Group, and Westfield Group, which collectively own more than 500 properties worldwide.
Current negotiations are focused on expanding the Company’s footprint on the West Coast, initially targeting five properties in markets that include Seattle and San Francisco in the north and San Diego and Orange County in the south. Lease terms have been received for the proposed properties, which will be similar in size to the Company’s current locations in Los Angeles. Longer term and pending additional funding, the Company expects to grow from its three existing locations in Southern California to dozens of locations in key markets nationally.
As part of its negotiations, being conducted on a per-location basis, the Company is seeking significant discounts from current market rents as well as attractive tenant allowances which are expected to reduce construction costs for each new Giggles N’ Hugs location. The Company has also retained the services of Todd Star, a highly regarded and successful senior executive with nearly three decades of real estate industry experience, to aid in its negotiations and growth strategy development. Star’s experience as a senior executive for Westfield, overseeing leasing operations for over 13 years, places him as one of the most knowledgeable and best in negotiating deals with mall operators. Todd currently serves as principal at Star Retail Advisors.
“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,” commented Parsi. “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.”
Parsi continued, “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. The same is true with birthday parties, which are a very high-margin business for us. People can’t do parties in their backyard or a park when it rains, so we get massive bookings on rainy days and our sales spike. 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.”
About Giggles N’ Hugs Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
For more information, visit www.gigglesnhugs.com
Forward-Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC" . Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
INVESTORS RELATIONS CONTACT:
Bruce Haase
RedChip Companies, Inc.
800.733.2447, ext. 131
bruce@redchip.com
COMPANY CONTACT:
Joey Parsi
Founder/CEO
Giggles N’ Hugs Inc.
Joey@gigglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Giggles N’ Hugs Advances Negotiations with National Mall Owners
Aug 11, 2015
OTC Disclosure & News Service
-
Los Angeles, Aug. 11, 2015 (GLOBE NEWSWIRE) -- Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, today reports it has been in active negotiations for its expansion with several of the largest mall owners in the U.S., including General Growth Properties, Simon Property Group, and Westfield Group, which collectively own more than 500 properties worldwide.
Current negotiations are focused on expanding the Company’s footprint on the West Coast, initially targeting five properties in markets that include Seattle and San Francisco in the north and San Diego and Orange County in the south. Lease terms have been received for the proposed properties, which will be similar in size to the Company’s current locations in Los Angeles. Longer term and pending additional funding, the Company expects to grow from its three existing locations in Southern California to dozens of locations in key markets nationally.
As part of its negotiations, being conducted on a per-location basis, the Company is seeking significant discounts from current market rents as well as attractive tenant allowances which are expected to reduce construction costs for each new Giggles N’ Hugs location. The Company has also retained the services of Todd Star, a highly regarded and successful senior executive with nearly three decades of real estate industry experience, to aid in its negotiations and growth strategy development. Star’s experience as a senior executive for Westfield, overseeing leasing operations for over 13 years, places him as one of the most knowledgeable and best in negotiating deals with mall operators. Todd currently serves as principal at Star Retail Advisors.
“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,” commented Parsi. “While we’re doing good 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.”
Parsi continued, “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. The same is true with birthday parties, which are a very high-margin business for us. People can’t do parties in their backyard or a park when it rains, so we get massive bookings on rainy days and our sales spike. 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.”
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
For more information, visit www.gigglesnhugs.com
Forward-Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC" . Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Contact:
INVESTORS RELATIONS CONTACT:
Bruce Haase
RedChip Companies, Inc.
800.733.2447, ext. 131
bruce@redchip.com
COMPANY CONTACT:
Joey Parsi
Founder/CEO
Giggles N’ Hugs Inc.
Joey@gigglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Interest in Giggles N’ Hugs Franchise Opportunities Continues to Grow
Jul 29, 2015
OTC Disclosure & News Service
-
Los Angeles, July 29, 2015 (GLOBE NEWSWIRE) -- Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, continues to receive strong interest from franchise operators globally.
Growing demand for Giggles N’ Hugs franchise opportunities has been received from large multi-unit franchising operators and small individual franchisees, both domestically and internationally. In North America, the Company has received interest from franchise operators from Canada and from nearly every major city in almost every state in the U.S. Internationally, demand for Giggles N’ Hugs franchises has been received from operators in Europe, Latin America, the Middle East, Asia, and Australia.
“Since opening our first location in Southern California in 2008, we’ve received strong interest from franchisees seeking to take our concept into new markets,” stated Joey Parsi, founder and CEO of Giggles N’ Hugs. “While franchising has always been a component of our long-term growth strategy, we chose to establish a strong foundation for Giggles N’ Hugs by initially focusing on perfecting our experience at company-owned locations. This strategy allows us to have strong confidence in our ability to effectively replicate the full Giggles N’ Hugs experience through franchise partners.”
When the company is ready to launch the franchising initiative, we expect to receive upfront licensing fees from franchisees, in addition to ongoing royalties. Based on discussions with franchise operators and other factors, multi unit licensing fees could range from several hundred thousand dollars to millions of dollars, while ongoing royalties should typically range from 3% to 8% of gross sales.
Philip Gay, Chief Business Development Officer of Giggles N’ Hugs, stated, “Franchising represents a significant growth opportunity for Giggles N’ Hugs, with global market potential exceeding millions of dollars. With margins above 25% expected from franchise operations, this strategy provides a great complement to our core company-owned growth initiatives. Based on my extensive personal experience in senior leadership positions with several highly successful enterprises including California Pizza kitchen and Wolfgang Puck Food inc. that have benefited from franchising, I believe Giggles N’ Hugs is well-positioned for long-term success in this arena when ready to launch which we hope to be very soon.”
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
For more information, visit www.gigglesnhugs.com
Forward-Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC" . Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
INVESTORS RELATIONS CONTACT:
Bruce Haase
RedChip Companies, Inc.
800.733.2447, ext. 131
bruce@redchip.com
Joey Parsi
Founder/CEO
Giggles N Hugs Inc.
Joey@gigglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Last updated 01/17/2017 - 0.0159
Giggles N’ Hugs, Inc. (GIGL) engages Kiddos, Inc. and Michelle Steinberg of dOMAIN Integrated to Launch New Marketing and PR Initiatives
Jun 23, 2016
OTC Disclosure & News Service
-
Los Angeles, June 23, 2016 (GLOBE NEWSWIRE) -- Giggles N' Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end organic food with cutting-edge play and entertainment for children, announces it has elevated its marketing and public relations (PR) strategies with the engagement of Kiddos, Inc. and Michelle Steinberg of dOMAIN Integrated, one of the top agencies for entertainment, hospitality and lifestyle in PR, licensing, merchandising and corporate branding.
As one of the top PR professionals and a highly sought-after marketing executive and influencer, Steinberg has an impressive history of successfully assisting numerous A-list celebrities and major corporate brands with product launches and various other ventures. Her experience includes launching several renowned restaurant brands, including TAO restaurants, the Palazzo Hotel, House of Blues and Planet Hollywood and All Star Cafe, among many others where she was responsible for all PR and marketing strategies. She also introduced these brands to some of the biggest A list talent in Hollywood, many of whome becoming investors in the concepts.
Steinberg has also handled product launches for many celebrity brands, including, Elton John, Nicole Richie, Jennifer Hudson as well as many others and currently works with corporate clients across the hospitality, lifestyle, fashion and beauty spaces, including iconic brands such as Volkswagen, TAO Group, The Los Angeles Lakers, Forevermark, a De Beers Company, Crocs, Kohl's, Bruno Magli and Ben Sherman among others.
Leveraging astute capabilities and significant industry relationships, Steinberg will likewise introduce the Giggles N’ Hugs brand to a targeted audience of investors, media professionals, manufacturers, retailers, advertisers, designers, distributers and consumers.
“We offer a highly specialized, unique restaurant concept that is increasingly popular among the general public and celebrity consumers in Southern California,” says Giggles N’ Hugs founder and CEO Joey Parsi. “While strategizing how to increase our market penetration throughout the rest of the country, we scoured the PR field for an individual or company on par with our exceptional restaurant concept and desired trajectory. We found exactly the caliber of partnership we were looking for with Kiddos and Steinberg.”
In addition to strengthening Giggles N’ Hugs’ overall brand strategy, Steinberg will assist with the market launch of new restaurant locations, services and products at a grassroots level in several major markets nationwide, including New York, Miami, Chicago and Los Angeles.
Steinberg will also aid with various components of launching the Company’s licensing and merchandising, in the food and beverage industry, children’s clothing, toys and baby products, children’s furniture and introducing the company to the many relationships, and clients they have and much more.
“We are extremely excited to have Steinberg and dOMAIN Integrated as part of our team, and look forward to the positive components we expect it to generate for the Giggles N’ Hugs brand and shareholders,” says Parsi. “With dOMAIN Integrated's capabilities, we have defined a powerful campaign strategy that we believe will efficiently and quickly get our story out to the masses.”
About Giggles N' Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special. For more information, visit www.gigglesnhugs.com
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"
. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.Contact: INVESTORS RELATIONS CONTACT:
michelle steinberg
d O M A I N N E W Y O R K
601 West 26th St. Suite #1750
New York, NY 10001
O: 212.675.0012
d O M A I N L O S A N G E L E S
7381 Beverly Blvd. Suite #100
Los Angeles, CA 90036
O: 323-549-0012
Joey Parsi - Founder/CEO Giggles N Hugs
Joey@gigglesnhugs.com
Copyright © 2016 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Repeat: Giggles N Hugs to present at the 9th annual LD Micro Conference main event
May 18, 2016
OTC Disclosure & News Service
-
Los Angeles, May 18, 2016 (GLOBE NEWSWIRE) -- Giggles N' Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, will be presenting at the 9th annual LD Micro conference main event on Thursday, June 9, 2016. The company and its management will also be available for one on one meetings throughout the three day event from June 6th through the 9th.
"We're excited to present at the LD Micro Conference main event," commented Joey Parsi, founder and CEO of Giggles N' Hugs. "With our Century City location just a few minutes away from the conference site, this is a great opportunity for us to meet with bankers, brokers, analysts and investors right here in our backyard."
The conference will be held at the Luxe Sunset Bel Air Hotel and will feature 200 companies in the small / microcap space. The LD MICRO conference has steadily grown each year since its inception in 2010 to become one of the premier conferences in the country. This year the LD MICRO will be hosting approximately 200 presenting micro-cap growth companies and over 1,000 people including top investment banks, private equity and hedge funds, analysts, brokers and most importantly institutional and retail investors who will be attending the event.
Event: 9th annual LD micro main event
When: Thursday, June 9th, 2016
Location: Luxe Hotel - Sunset Blvd
About Giggles N' Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"
. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. CONTACT: INVESTORS RELATIONS CONTACT:
Joey Parsi
Founder/CEO
Giggles N Hugs
Joey@gogglesnhugs.com
Copyright © 2016 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Giggles N' Hugs, Inc. (GIGL) CEO Discusses 2016 Growth Strategies in Second QualityStocks Interview
Jan 26, 2016
OTC Disclosure & News Service
-
Giggles N' Hugs, Inc. (GIGL) CEO Discusses 2016 Growth Strategies in Second QualityStocks Interview
SCOTTSDALE, AZ--(Marketwired - Jan 26, 2016) - QualityStocks today announces the availability of a new audio interview with Joey Parsi, founder and chief executive officer of Giggles N' Hugs, Inc. (OTCQB: GIGL). The interview recapping the company's achievements in 2015, outlook for 2016, and opportunity to invest in its growth, can be heard at http://www.qualitystocks.net/interview-gigl2.php.
Last year was a busy and productive season for Giggles N' Hugs, and Parsi begins the QualityStocks interview by explaining the company's success in streamlining operations, dramatically improving margins, and increasing year-over-year sales.
Building on its 2015 achievements and recent engagement of Chardan Capital Markets LLC, Giggles N' Hugs is well-positioned to execute its 2016 growth initiatives.
"We recently engaged Chardan Capital as our investment bank to go out and raise some capital for us so that we can expand ... to multiple locations throughout the United States ... just as importantly, we're also looking to finally launch our massive franchising program," Parsi explains in the interview.
Giggles N' Hugs has received hundreds of inquiries from interested parties looking to replicate the company's concept and success in various locations around the world.
"We're in a very enviable position in that in the restaurant world ... they say there's three reasons for success. And that's location, location and location. For us, that seems to be the best part of our opportunity going forward," says Parsi.
On the topic of location, Giggles N' Hugs has also caught the eye of several of the nation's largest mall landlords, including Westfield, which has made available its entire portfolio of malls for Giggles N' Hugs to consider as future locations. Westfield in particular is also offering the company a tenant allowance to drastically cut opening and rent costs - all in the name of leveraging Giggles N' Hugs tremendous ability to generate foot traffic at each location.
Moving forward, Giggles N' Hugs aims to raise $5 million through a 506C offering, which will enable the company to fund its 2016 growth initiatives.
"We need capital; obviously that's a primary need for any young company like Giggles N' Hugs, which is on this massive growth spurt ... if you're interested in investing in Giggles N' Hugs, please contact us at info@gigglesnhugs.com and we'll be sure to send you all the investment information so that you can make a decision as to whether or not Giggles N' Hugs represents a good opportunity," concludes Parsi.
About Giggles N' Hugs, Inc.
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
For more information on GIGL visit: http://GIGL.QualityStocks.net
About QualityStocks
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Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Giggles N’ Hugs Signs Agreement with New York-Based Chardan Capital Markets
Dec 01, 2015
OTC Disclosure & News Service
-
Los Angeles, Dec. 01, 2015 (GLOBE NEWSWIRE) --
Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, has engaged Chardan Capital Markets, LLC (“Chardan”) a boutique investment bank headquartered in New York.
Under the agreement, Chardan will introduce Giggles N’ Hugs to potential investors and business partners, advise and assist management in preparing for presentations to financial sources, as well as perform a wide variety of financial advisory services.
“We are extremely pleased to have reached this agreement with Chardan Capital Markets,” said Joey Parsi, Founder and CEO of Giggles N’ Hugs. “As we continue to grow and expand our reach in markets throughout the country and the world, we look forward to working with Chardan to assist in taking our company to the next level through their capital markets and financial advisory expertise. In addition, markets permitting, we plan to take the necessary steps to position Giggles N’ Hugs for an up-listing to a national exchange in 2016.”
Chardan specializes in providing the entire gamut of investment banking, trading and equity research, with a particular emphasis on micro-cap emerging growth companies. With over $13.0 billion raised through more than 250 transactions, Chardan has developed a successful record of completing a wide variety of deals. In the process, Chardan has become a leader on capital solutions for emerging growth companies.
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special. www.gigglesnhugs.com.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"
. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. INVESTORS RELATIONS CONTACT:
Bruce Haase
RedChip Companies, Inc.
800.733.2447, ext. 131
bruce@redchip.com
Joey Parsi
Founder/CEO
Giggles N Hugs
Joey@gigglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Giggles N Hugs to present at the 8th annual LD Micro Conference main event
Nov 30, 2015
OTC Disclosure & News Service
-
Los Angeles, Nov. 30, 2015 (GLOBE NEWSWIRE) -- Giggles N' Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, will be presenting at the 8th annual LD Micro conference main event on Thursday, November 3, 2015 at 4:30 PM. PT. The company and its management will also be available for one on one meetings throughout the three day event from December 1st through the 3rd.
"We're excited to present at the LD Micro Conference main event," commented Joey Parsi, founder and CEO of Giggles N' Hugs. "With our Century City location just a few minutes away from the conference site, this is a great opportunity for us to meet with bankers, brokers, analysts and investors right here in our backyard."
The conference will be held at the Luxe Sunset Bel Air Hotel and will feature 185 companies in the small / microcap space. The LD MICRO conference has steadily grown each year since its inception in 2010 to become one of the premier conferences in the country. This year the LD MICRO will be hosting approximately 185 presenting micro-cap growth companies and over 1,000 people will be attending the event.
Event: 8th annual LD micro main event
When: Thursday, December 3rd, 2015
Time: 4:30pm Pacific time
Location: Luxe Hotel - Sunset Blvd
About Giggles N' Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"
. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. CONTACT: INVESTORS RELATIONS CONTACT:
Bruce Haase?
RedChip Companies, Inc.?
800.733.2447, ext. 131?
bruce@redchip.com
Joey Parsi
Founder/CEO
Giggles N Hugs
Joey@gogglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Westfield seeks to expand partnership with Giggles N Hugs
Oct 20, 2015
OTC Disclosure & News Service
-
Los Angeles, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, receives praise from Westfield, one of the largest mall owners and operators in the world and seeks to expand the existing partnership in place by offering the company their entire portfolio of malls for consideration for future locations.
“Based on the performance we have seen from Giggles N’ Hugs, contributing to the overall family foot traffic, making the kids corridor a vibrant part of the mall, as well as helping us turn both Century City and Topanga malls into major family destinations, we know there is more business to do with your Company,” stated Shannon Westmore, VP of Leasing for Westfield.
As part of its global portfolio, Westfield designs, develops, owns, manages and leases award-winning shopping venues in landmark cities around the world. Among the company’s iconic retail destinations are Westfield London, Westfield Stratford City in the U.K., Westfield San Francisco Centre, Westfield Century City where Giggles N Hugs currently has its flagship location , and Westfield Garden State Plaza.
Westfield also develops superior customer experiences in flagship airports across the U.S. by developing cutting-edge environments that capture each city’s distinct style and spirit, integrating food, fashion, entertainment and world-class amenities, and using technology to enhance the passenger journey. Current developments include JFK, LAX, Newark, George Bush Intercontinental, Boston Logan, Orlando, Miami, and Chicago O’Hare airports.
Westmore continued, “Westfield is thrilled to have Giggles N Hugs as a tenant and would like to strengthen our relationship with Giggles N Hugs by having more locations in our shopping centers and airports.”
“This is a major stamp of approval from Westfield, and the fact that they are making available to us their entire worldwide portfolio of malls is a testament to what we bring to the table for them,” stated Joey Parsi, founder and CEO of Giggles N’ Hugs. “With the unbelievable management team we now have in place, and having one of the most unique concepts in the restaurant industry, as well as the deals and opportunities we are getting from Westfield and all the other major mall owners, we are ready to explode onto the national scene first with multiple locations in some of the best properties in the country and ultimately around the world.”
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"
. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. INVESTORS RELATIONS CONTACT:
Bruce Haase
RedChip Companies, Inc.
800.733.2447, ext. 131
bruce@redchip.com
COMPANY CONTACT:
Joey Parsi
Founder/CEO
Giggles N’ Hugs Inc.
Joey@gigglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Giggles N’ Hugs Announces Second Quarter 2015 Financial Results
Aug 25, 2015
OTC Disclosure & News Service
-
Los Angeles, Aug. 25, 2015 (GLOBE NEWSWIRE) --
Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, announces its financial results for the thirteen weeks ended June 28, 2015.
Second Quarter Highlights:
Net sales at Glendale Galleria location increased 5.5% year-over-year
Private party rentals and other sales increased 3.4% year-over-year to $451,258
Total net sales increased 0.8% year-over-year to $830,812
“The recent additions to our management team, Philip Gay as chief business development officer and John Kaufman as interim-president, have brought a tremendous level of experience and leadership to Giggles N’ Hugs in the few short months they’ve been on board,” commented Joey Parsi, founder and CEO of Giggles N’ Hugs. “Having worked together previously in their roles as CFO and COO respectively at California Pizza Kitchen, where they helped grow the chain from two locations to more than 70, they are helping us immensely as we prepare for our expansion on the West Coast and beyond.”
Parsi continued, “Together with the help of Todd Star, the former head of west coast leasing at Westfield USA who is now spearheading our negotiations with all the major mall owners in the country, we’re moving forward on our plans to open new locations in markets like Seattle and San Francisco in the north and San Diego and Orange County in the south., With the expected significant discounts from current market rents as well as attractive tenant allowances that have been offered, we should see great reductions in construction costs and rent for the new locations.”
“We also continue to receive substantial interest from large multi-unit franchising operators and small individual franchisees, both domestically and internationally. This is an area that represents immense growth potential for Giggles N’ Hugs, and will provide very attractive margins , and complements our core company-owned expansion plans. With John and Philip’s extensive experience in the franchising space, with John serving as President of Koo Koo Roo Chicken and Philip serving as CFO at California Pizza Kitchen, and interim CEO at Wolfgang Puck Foods, I believe this will be an area that brings solid improvements to shareholder value as we execute.” With what I consider to be an all star management team we now have in place, we are very excited about what the future holds for Giggles N Hugs, Parsi Concluded".
Net sales for the thirteen weeks ended June 28, 2015 and June 29, 2014 were $830,812 and $824,611 respectively. The marginal increase of 0.8% was due primarily to a continuing trend for higher party rentals. The net sales consist of revenue from food and beverages, private party rentals, fees for access to the children’s play area, sales from membership cards (of varying terms), sales from Giggles N’ Hugs-branded merchandise, net of allowances, returns and discounts. Sales were up 3.4% for private party rentals and other sales, offsetting the higher allowances, returns and discounts. The Glendale location showed the highest increase of 5.5% over the comparable period from last year, which offset the slightly lower sales from the other locations.
Costs related to food purchases, supplies and general restaurant operations decreased 7.6% to $212,038 during the thirteen weeks ended June 28, 2015, compared to $229,570 for the thirteen weeks ended June 29, 2014. We were able to achieve this even though many commoddities we use have increased in price. Any future increase in costs of certain commodities could adversely impact operations unless such price increases are passed on to the Company’s guests.
Labor expenses for the thirteen weeks ended June 28, 2015 and June 29, 2014, were $336,877, and $315,747, respectively, reflecting an increase of 6.7%. Despite constant pressure for increased wages, the Company was successful in keeping labor costs at around 39% of revenue, which is in-line with comparable periods.
The net loss for the thirteen weeks ended June 28, 2015 decreased 0.5% to $474,826, compared to a net loss of $477,309 for the thirteen weeks ended June 29, 2014. Management believes losses will continue to be reduced and profitability will be attained in future quarters as the popularity of its restaurants increases.
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
For more information, visit www.gigglesnhugs.com
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"
. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. Adjusted Store-Level Net Loss (non-GAAP) Reconciliation
2Q15 2Q14
Net sales, as reported $ 830,812 $ 824,611
Total operating expenses, as reported $ 860,829 $ 854,765
Add back depreciation & amortization ($ 93,753 ) ($ 86,966 )
Other expenses
General & administrative $ 63,332 $ 59,359
Finance & interest expense $ 5,006 $ 14,744
Gain on debt modification ($ 69,228 ) -
Total costs & operating expenses $ 766,186 $ 841,902
INVESTORS RELATIONS CONTACT:
Bruce Haase
RedChip Companies, Inc.
800.733.2447, ext. 131
bruce@redchip.com
COMPANY CONTACT:
Joey Parsi
Founder/CEO
Giggles N’ Hugs Inc.
Joey@gigglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Giggles N’ Hugs Advances Negotiations with largest National Mall Owners
Aug 11, 2015
OTC Disclosure & News Service
-
Los Angeles, Aug. 11, 2015 (GLOBE NEWSWIRE) -- Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, today reports it has been in active negotiations for its expansion with several of the largest mall owners in the U.S., including General Growth Properties, Simon Property Group, and Westfield Group, which collectively own more than 500 properties worldwide.
Current negotiations are focused on expanding the Company’s footprint on the West Coast, initially targeting five properties in markets that include Seattle and San Francisco in the north and San Diego and Orange County in the south. Lease terms have been received for the proposed properties, which will be similar in size to the Company’s current locations in Los Angeles. Longer term and pending additional funding, the Company expects to grow from its three existing locations in Southern California to dozens of locations in key markets nationally.
As part of its negotiations, being conducted on a per-location basis, the Company is seeking significant discounts from current market rents as well as attractive tenant allowances which are expected to reduce construction costs for each new Giggles N’ Hugs location. The Company has also retained the services of Todd Star, a highly regarded and successful senior executive with nearly three decades of real estate industry experience, to aid in its negotiations and growth strategy development. Star’s experience as a senior executive for Westfield, overseeing leasing operations for over 13 years, places him as one of the most knowledgeable and best in negotiating deals with mall operators. Todd currently serves as principal at Star Retail Advisors.
“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,” commented Parsi. “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.”
Parsi continued, “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. The same is true with birthday parties, which are a very high-margin business for us. People can’t do parties in their backyard or a park when it rains, so we get massive bookings on rainy days and our sales spike. 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.”
About Giggles N’ Hugs Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
For more information, visit www.gigglesnhugs.com
Forward-Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"
. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. INVESTORS RELATIONS CONTACT:
Bruce Haase
RedChip Companies, Inc.
800.733.2447, ext. 131
bruce@redchip.com
COMPANY CONTACT:
Joey Parsi
Founder/CEO
Giggles N’ Hugs Inc.
Joey@gigglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Giggles N’ Hugs Advances Negotiations with National Mall Owners
Aug 11, 2015
OTC Disclosure & News Service
-
Los Angeles, Aug. 11, 2015 (GLOBE NEWSWIRE) -- Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, today reports it has been in active negotiations for its expansion with several of the largest mall owners in the U.S., including General Growth Properties, Simon Property Group, and Westfield Group, which collectively own more than 500 properties worldwide.
Current negotiations are focused on expanding the Company’s footprint on the West Coast, initially targeting five properties in markets that include Seattle and San Francisco in the north and San Diego and Orange County in the south. Lease terms have been received for the proposed properties, which will be similar in size to the Company’s current locations in Los Angeles. Longer term and pending additional funding, the Company expects to grow from its three existing locations in Southern California to dozens of locations in key markets nationally.
As part of its negotiations, being conducted on a per-location basis, the Company is seeking significant discounts from current market rents as well as attractive tenant allowances which are expected to reduce construction costs for each new Giggles N’ Hugs location. The Company has also retained the services of Todd Star, a highly regarded and successful senior executive with nearly three decades of real estate industry experience, to aid in its negotiations and growth strategy development. Star’s experience as a senior executive for Westfield, overseeing leasing operations for over 13 years, places him as one of the most knowledgeable and best in negotiating deals with mall operators. Todd currently serves as principal at Star Retail Advisors.
“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,” commented Parsi. “While we’re doing good 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.”
Parsi continued, “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. The same is true with birthday parties, which are a very high-margin business for us. People can’t do parties in their backyard or a park when it rains, so we get massive bookings on rainy days and our sales spike. 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.”
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
For more information, visit www.gigglesnhugs.com
Forward-Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"
. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. Contact:
INVESTORS RELATIONS CONTACT:
Bruce Haase
RedChip Companies, Inc.
800.733.2447, ext. 131
bruce@redchip.com
COMPANY CONTACT:
Joey Parsi
Founder/CEO
Giggles N’ Hugs Inc.
Joey@gigglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Interest in Giggles N’ Hugs Franchise Opportunities Continues to Grow
Jul 29, 2015
OTC Disclosure & News Service
-
Los Angeles, July 29, 2015 (GLOBE NEWSWIRE) -- Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, continues to receive strong interest from franchise operators globally.
Growing demand for Giggles N’ Hugs franchise opportunities has been received from large multi-unit franchising operators and small individual franchisees, both domestically and internationally. In North America, the Company has received interest from franchise operators from Canada and from nearly every major city in almost every state in the U.S. Internationally, demand for Giggles N’ Hugs franchises has been received from operators in Europe, Latin America, the Middle East, Asia, and Australia.
“Since opening our first location in Southern California in 2008, we’ve received strong interest from franchisees seeking to take our concept into new markets,” stated Joey Parsi, founder and CEO of Giggles N’ Hugs. “While franchising has always been a component of our long-term growth strategy, we chose to establish a strong foundation for Giggles N’ Hugs by initially focusing on perfecting our experience at company-owned locations. This strategy allows us to have strong confidence in our ability to effectively replicate the full Giggles N’ Hugs experience through franchise partners.”
When the company is ready to launch the franchising initiative, we expect to receive upfront licensing fees from franchisees, in addition to ongoing royalties. Based on discussions with franchise operators and other factors, multi unit licensing fees could range from several hundred thousand dollars to millions of dollars, while ongoing royalties should typically range from 3% to 8% of gross sales.
Philip Gay, Chief Business Development Officer of Giggles N’ Hugs, stated, “Franchising represents a significant growth opportunity for Giggles N’ Hugs, with global market potential exceeding millions of dollars. With margins above 25% expected from franchise operations, this strategy provides a great complement to our core company-owned growth initiatives. Based on my extensive personal experience in senior leadership positions with several highly successful enterprises including California Pizza kitchen and Wolfgang Puck Food inc. that have benefited from franchising, I believe Giggles N’ Hugs is well-positioned for long-term success in this arena when ready to launch which we hope to be very soon.”
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
For more information, visit www.gigglesnhugs.com
Forward-Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"
. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. INVESTORS RELATIONS CONTACT:
Bruce Haase
RedChip Companies, Inc.
800.733.2447, ext. 131
bruce@redchip.com
Joey Parsi
Founder/CEO
Giggles N Hugs Inc.
Joey@gigglesnhugs.com
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
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