MINNEAPOLIS, Dec. 19, 2012 (GLOBE NEWSWIRE) -- A new pricing strategy is on the menu for Famous Dave's (Famous Dave's) (Nasdaq:DAVE). The company will engage the world's leading restaurant analytics consultancy, Revenue Management Solutions (RMS), for all pricing and menu optimization work. "Menu optimization is a critical component of our strategy," said John Gilbert, Famous Dave's CEO, "which includes maximizing profits on our current transactions and developing a pricing model that encourages repeat visits."
RMS is known within the restaurant industry to have been the consultancy behind pricing at the world's largest restaurant companies. The company – whose client list includes 33 brands in 34 countries – delivers impressive results, with a goal of driving, at minimum, 1% of sales to the bottom line.
"We have substantial opportunities in front of us," said Gilbert. "RMS leads the industry in the science of menu strategy – it's amazing stuff, RMS actually uses consumer demand to gauge the effectiveness of pricing and menu decisions – and the impact this work presents to our financial position is significant."ABOUT FAMOUS DAVE'S: Famous Dave's of America, Inc. (Nasdaq:DAVE) develops, owns, operates and franchises barbeque restaurants. The company owns 54 locations and franchises 135 additional units in 33 states and 1 Canadian province. The menu features award-winning barbequed and grilled meats, a large selection of salads, side items and sandwiches and unique desserts. Famous Dave's has won over 646 awards for everything from best ribs to best Bar-B-Que sauce to best cookbook. For more information, please visit www.famousdaves.com . The Famous Dave's of America, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7726
CONTACT: MEDIA CONTACT: Gretchen Anthony Famous Dave's of America 952-294-1300 firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV