Opening Week for Greenwood Noble Roman's Sets Record

Rhea-AI Summary

Noble Roman's, Inc. (NROM) announced the successful opening of its newest company-owned Craft Pizza & Pub location in Greenwood, Indiana, achieving first-week net sales of nearly $60,000, the highest among its company-operated units. President Scott Mobley expressed gratitude for the community's positive reception despite pandemic challenges. The strategic implementation of the new layout improved service efficiency while reducing occupancy costs. The company plans additional openings in Kokomo and McCordsville, Indiana, by November, showcasing its growth amidst difficult operating conditions.

Positive

• First-week net sales of nearly $60,000 for the Greenwood location, highest among company-operated units.
• New layout enhances service efficiency and reduces occupancy costs.
• Plans to open additional locations in Kokomo and McCordsville by November.

Negative

• Ongoing uncertainties related to the coronavirus pandemic could impact future operations.

INDIANAPOLIS, IN / ACCESSWIRE / October 19, 2020 / Noble Roman's, Inc. (OTCQB:NROM), the Indianapolis based franchisor and operator of Noble Roman's Pizza and Noble Roman's Craft Pizza & Pub announced today that its newest company-owned Craft Pizza & Pub restaurant located in Greenwood, Indiana had first week net sales at just under $60,000, which was the highest opening volume so far of any company-owned and operated unit.

According to Scott Mobley, President of Noble Roman's, "We are extremely grateful for the fantastic reception the residents of Greenwood and the surrounding areas have shown Noble Roman's Craft Pizza & Pub. Despite all the complicating factors brought on by the current pandemic, our opening week of sales came in at $59,550, which was well in excess of our expectations for these difficult times."

Mobley went on to say that the new layout used at Greenwood was highly effective at meeting several improvement objectives. Said Mobley, "Our version 2.1 layout allowed us greater ability to handle sudden high-volume periods with significantly improved service times from a production standpoint. Our new dedicated Pizza Valet curbside carryout service entrance and our new waiter/waitress prep station both contributed to improved service as well. And we did all of this in over 600 square feet less space than the 1.0 model. We still have some refinements to make based on our experience with Greenwood, but the version 2.1 layout clearly enhances service and reduces occupancy costs at the same time, while still allowing us to accommodate record opening volume levels."

Scott Mobley went on to comment on the difficult operating circumstances the company continues to work through as a result of COVID-19 saying, "We are so happy to be able to bring Noble Roman's to the greater Greenwood area, even under these circumstances. We received emails and comments from guests thanking us for bringing a small piece of normality to their lives. Something as simple as great pizza and breadsticks can add a little fun to the day, and that is what Noble Roman's Craft Pizza & Pub is all about. Our staff has been amazing as well; they've worked so hard under uncomfortable pandemic restrictions and I'm truly proud of their efforts. From the newest hourly team members to the restaurant management team to the corporate staff - everyone gave 110%. Without all of that effort and sacrifice under difficult circumstances, opening these new restaurants would not be possible."

The newest Noble Roman's Craft Pizza & Pub restaurant is located in Greenwood, Indiana at the intersection of State Road 135 and Stones Crossing Road and serves Greenwood, Bargersville, Whiteland, Center Grove and the surrounding area. The Greenwood Craft Pizza & Pub is another company owned and operated location, and opened for business on Monday, October 12th. In November, the company anticipates opening another franchise Craft Pizza & Pub location in Kokomo, Indiana and yet another company-operated location in McCordsville, Indiana.

The statements contained in this press release concerning the company's future revenues, profitability, financial resources, market demand and product development are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) relating to the company that are based on the beliefs of the management of the company, as well as assumptions and estimates made by and information currently available to the company's management. The company's actual results in the future may differ materially from those projected in the forward-looking statements due to risks and uncertainties that exist in the company's operations and business environment, including, but not limited to, the uncertainties surrounding the current coronavirus pandemic, competitive factors and pricing pressures, non-renewal of franchise agreements, shifts in market demand, the success of new franchise programs, including the new Noble Roman's Craft Pizza & Pub format, the company's ability to successfully operate an increased number of company-owned restaurants, general economic conditions, the ability of the company to maintain various covenants with its lender, further changes in purchases of or demand for the company's products, licenses or franchises, the success or failure of individual franchisees and licensees, changes in prices or supplies of food ingredients and labor, and dependence on continued involvement of current management. The current coronavirus pandemic remains disruptive and unpredictable, and further government or consumer action could have a substantially adverse impact on the company's business. Should one or more of these risks or uncertainties materialize, or should underlying assumptions or estimates prove incorrect, actual results may differ materially from those described herein as anticipated, believed, estimated, expected or intended. The company undertakes no obligations to update the information in this press release for subsequent events.

FOR ADDITIONAL INFORMATION, CONTACT:

Media Information - Scott Mobley, President & CEO: smobley@nobleromans.com
Investor Relations - Paul Mobley, Executive Chairman: pmobley@nobleromans.com

SOURCE: Noble Roman's, Inc.

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FAQ

What were the first-week sales for Noble Roman's new location in Greenwood?

Noble Roman's reported first-week net sales of $59,550 for its new location in Greenwood, Indiana.

How does the new layout of Noble Roman's Craft Pizza & Pub improve operations?

The new layout allows better handling of high-volume periods, improves service times, and reduces occupancy costs.

What are the future plans for Noble Roman's locations?

Noble Roman's plans to open additional locations in Kokomo and McCordsville, Indiana, by November 2020.

What challenges does Noble Roman's face due to COVID-19?

Noble Roman's continues to navigate operational challenges due to the uncertainties of the coronavirus pandemic.