This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Granite City Food & Brewery® Reports 11.8% Increase In Revenue In Second Quarter 2013

Stocks in this article: GCFB

Granite City Food & Brewery Ltd. (OTCQB: GCFB), a casual dining restaurant group, today reported results for the second quarter ended July 2, 2013.

Highlights were as follows:

  • Total restaurant sales increased 11.8% to $34.0 million for the second quarter of 2013 from $30.4 million in the second quarter of 2012
  • Total restaurant sales increased 16.9% to $68.9 million for the first half of 2013 from $59.0 million in the first half of 2012
  • Same store sales increased 2.1% in the second quarter of 2013 over the second quarter of 2012
  • Same store sales increased 2.5% in the first half of 2013 over the first half of 2012
  • Company recorded approximately $2.3 million in Adjusted EBITDA in the second quarter of 2013 compared to $1.9 million in the second quarter of 2012
  • Company recorded approximately $4.5 million in Adjusted EBITDA in the first half of 2013 compared to $3.5 million in the first half of 2012

“We incorporated a variety changes to our menu during the second quarter which caused some increases in our labor and food costs as the staff adjusted to the enhanced menu,” commented Rob Doran, CEO. That said, we performed strongly as a company, our Troy and Franklin prototypes continued to perform very well, and we increased our EBITDA on a quarter over quarter basis. During the quarter we also completed the construction of our downtown Indianapolis restaurant that recently opened in July 2013. We feel the team is well positioned and we look forward to future restaurant openings including the upcoming new restaurant in Lyndhurst, Ohio later this fall.”

Second Quarter 2013 Financial Results

Total revenue for second quarter 2013 increased by 11.8% to $34.0 million compared to $30.4 million for the second quarter of 2012. This increase was the result of three additional locations in operation in the second quarter of 2013 compared to that of 2012. Comparable restaurant revenue, which includes restaurants which we have operated for over 18 months, increased 2.1%. Total cost of sales before occupancy was $25.5 million in the second quarter of 2013 or 75.1% of revenue compared to prior year second quarter cost of sales before occupancy of $22.7 million or 74.8% of revenue.

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs