When fall comes around one's thoughts drift to vibrant foliage, pumpkins and of course Oktoberfest. In New York, the festivities start early - September is officially known as German-American Friendship Month.

Recognized by the Mayor's office for the fourth consecutive year, German-American Friendship Month honors the German-American culture and the many contributions made by German immigrants by holding an entire month of celebrations, including the 53rd German-American Steuben Parade.

To Chef Kurt Gutenbrunner, the Austrian born chef and owner of the KG-NY Restaurant Group, Oktoberfest is a year-round celebration. Renowned for his expertise in Austrian and German cuisine, Gutenbrunner embraces the upcoming seasonal festivities, actively supporting the many activities, including hosting the opening reception of German-American Friendship Month.

"It is a wonderful time of the year, and I am proud to be part of the celebrations. My joy of sharing the richness and flavors of Austria and Germany with others is the main reason I began my restaurants. To be invited to participate in the city-wide activities of German-American Friendship Month and Oktoberfest is a great honor."

It was ten years ago that Chef Gutenbrunner opened the doors to his Michelin Star "Wallse", located in the West Village. Since then, he has opened Cafe Sabarsky at the Neue Galerie, Blaue Gans in Tribeca, and the Upholstery Store Wine Bar, also in the West Village. Each restaurant holds its own character and charm and feature unique menus featuring traditional Austrian cuisine delicately touched with a contemporary flair. Most recently, Gutenbrunner has been serving as the culinary consultant to the Standard Hotels in New York and Los Angeles to help open the popular Biergarten at each location.

Chef Kurt Gutenbrunner, Culinary Consultant to the Biergarten and founder of KGNY Restaurant Group. The KG-NY portfolio of restaurants includes Wallse, Cafe Sabarsky at the Neue Galerie, Blaue Gans, and the Upholstery Store wine bar. All feature traditional and nouveau-Austrian and German cuisine.

For additional information about Chef Kurt Gutenbrunner and the KG-NY Restaurant visit:

www.wallse.com

About KG-NY:  The KGNY Restaurant Group owns and operates several restaurants throughout New York City. Founded by top Austrian chef Kurt Gutenbrunner, the KGNY portfolio of restaurants feature modern interpretations of Austrian cuisine. For more information visit: www.wallse.com or call 212.240.9557,

SOURCE KG-NY

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Sheetz continues to grow around the Lynchburg area of Virginia with a new location in Forest.  The store officially opened to the public on Monday, but employees will today celebrate the opening at 14449 Forest Road with a reception and ribbon cutting at 3:30p.m.  All customers and media are welcome to attend.

(Logo: http://photos.prnewswire.com/prnh/20061212/CLTU039LOGO )

(Logo: http://www.newscom.com/cgi-bin/prnh/20061212/CLTU039LOGO )

"Virginia has been a great place for us to do business and serve customers," said Stan Sheetz, president and CEO, Sheetz, Inc. "The people there are friendly and we love to keep providing them with what they need every day to help get them through their busy lives."

The 5,000 square-foot facility will offer fresh food items like the MTGo! and Shweetz Bakery lines of sandwiches, wraps, donuts and muffins, along with the signature MTO® line of Angus beef burgers, premium grilled chicken sandwiches, freshly made salads, French fries, onion rings and more.

Sheetz Bros. Coffeez®, a full-service espresso and smoothie bar staffed by a trained barista is going to be available at the new store. Customers can order hand-made specialty coffee drinks including lattes, cappuccinos and mochas - hot, frozen or iced.

"Sheetz has a legacy of providing our customers with a high standard of convenience without any compromise," Mr. Sheetz said.  "The company's mission is to meet the needs of customers on the go by providing fast and friendly service, quality products in clean and convenient locations."  

Sheetz is also proud of its tradition of giving back to the communities in which it operates. Especially important to the organization is its long-standing partnership with Special Olympics.  As part of today's celebration, the company will make a donation to Special Olympics Virginia.

Established in 1952 in Altoona, Pennsylvania, Sheetz, Inc. is one of America's fastest growing family-owned and operated convenience store chains, with more than $3.7 billion in revenue for 2009 and more than 13,000 employees.  The company operates more than 360 convenience locations throughout Pennsylvania, West Virginia, Maryland, Virginia, Ohio and North Carolina.  Sheetz provides an award-winning menu of MTO® subs, sandwiches and salads, which are ordered through unique touch-screen order point terminals.  Sheetz currently ranks 82nd on the Forbes list of largest private companies, and has ranked for seven consecutive years on the list of Best Places to Work in Pennsylvania.  All Sheetz convenience stores are open 24 hours a day, 365 days a year.  For more information, visit www.sheetz.com.

SOURCE Sheetz, Inc.

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Genghis Grill – The Mongolian Stir Fry, will open its 50th location, Saturday, September 4th. "This milestone has been reached through collaboration and dedication from the teams that are operating our restaurants everyday along with our committed franchisees, vendors, and corporate staff. Ultimately, there is no doubt that the most credit should go to our fans that have helped us grow to 50 restaurants," says Genghis Grill CEO, Al Bhakta.

The 50th location will be in Houston at the intersection of US-290 and Highway 6 in the former Skeeter's Mesquite Grill site. Frank Carney, who founded Pizza Hut in 1958, is part of the Houston franchisee group that will be opening up this location. Genghis Grill currently has three other locations in the Houston metro area in the Woodlands, Clearlake and Bunkerhill.

In honor of the 50th restaurant opening, Genghis Grill will be giving away a commemorative t-shirt to the first 50 fans at each of its fifty locations on Saturday, September 4th. Also, $50 gift cards will be given away to lucky selected fans.

Genghis Grill, the largest Mongolian Grill in the US, is well-known for its fresh, hot and healthy food, and for its style of fun service, featuring build your own bowl – an INTERACTIVE style of exhibition cooking. Genghis Grill has been ranked #2 on the Fast Casual Top 100 Movers and Shakers and ranked #5 on the Future 50 list by Restaurant Business magazine.

Ten more new restaurants are slated to open around the country in 2010, KHANQUERING throughout the Southwest, South Central, Midwest, and Southeast. Expansion has been a company focus for years, and you can now find Genghis Grill in 14 states.

The aggressively expanding 50 unit chain operates locations through franchised and corporate restaurants throughout AR, AZ, CO, FL, IA, IL, KS, MO, MN, NM, NV, OK, TN and TX. Additional locations in AR, AL, FL, GA, KS, KY, LA, MD, MO, NE, NC, NM, NV, OK, TN, TX and VA are pending upon construction or site selection.

The first Genghis Grill opened in 1998 in Dallas, TX. Today, Genghis Grill is a segment leader when it comes to Mongolian Barbecue. It offers a Heart Healthy dining option along with an array of recipes to choose from KHAN'S KITCHEN (food bar). The growth of the concept has been predominantly through its kult like following.

For more information about Genghis Grill-The Mongolian Stir Fry, contact Liz Jones at liz@genghisgrill.com or 972.996.4017. For more information, visit www.genghisgrill.com.

SOURCE Genghis Grill

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Eight years before the New Oxford American Dictionary added the word "locavore" to its pages, Bon Appetit Management Company committed to using local foods on its college, corporate and specialty cafe menus. In 1999, Bon Appetit launched its Farm to Fork program, a company-wide commitment to buy from small, owner-operated farms located within 150 miles of their cafes.

(Photo: http://photos.prnewswire.com/prnh/20100901/SF58469)

(Photo: http://www.newscom.com/cgi-bin/prnh/20100901/SF58469)

Eleven years later, the food service company's sixth annual Eat Local Challenge on September 28, 2010 will involve both professional and home chefs. Chefs at Bon Appetit Management Company's 400-plus cafes will prepare a meal using only local ingredients from farms and other suppliers within a 150-mile radius. Facebook fans are invited to participate as well: an iPad loaded with Culinate.com's electronic app of Mark Bittman's iconic cookbook, "How to Cook Everything," will be awarded to one randomly selected participant who posts his or her menu that uses only locally sourced ingredients.

The company's chefs already spend tens of millions of dollars annually with local producers, re-inventing the food supply chain one cafe at a time. By focusing on a single day when diners can eat  a meal made 100% of foods (other than salt) from local suppliers, cafe guests can enjoy meals sourced from their own community while company chefs have the opportunity to engage new farmers and artisans. Despite the size of the company, Bon Appetit's local chefs operate with creative autonomy, establishing close and collaborative relationships with local farmers and artisans and working to build seasonal, farm-fresh menus unique to their region.

"We designed the Eat Local Challenge to push ourselves, to throw down the gauntlet to our chefs and employees, and to ask ourselves to exceed our own standards," says Fedele Bauccio, Bon Appetit's CEO. "Supporting local farmers and artisans is a part of our culture, and we always work to find new and creative ways to expand on our commitment."

Ambitious Goal to Grow Local Employee-led "Farm to Fork" Program

Along with the Eat Local Challenge, another clear challenge has been issued by Mr. Bauccio to the company's chefs: they are striving to source from a total of 1,000 small, owner-operated farms and artisan producers in the company's Farm to Fork program by 2011. Farm to Fork, Bon Appetit's commitment to purchasing as much as possible within 150 miles of its kitchens, enables superior flavor, higher nutritional value and overall premium quality in foods served at the company's restaurants. This is accomplished by using fresh, seasonably available produce and artisanal ingredients from conscientious suppliers – including dairy products, cooking oils, meats, fruits and vegetables.

Local Bon Appetit Chefs Lead the Initiative; Cafe Staff Flex their Culinary Muscle at Home

The company is also challenging its hourly employees to execute an Eat Local Challenge in their own home kitchens. Cafe staff who prepare a 100% local meal in the month of September will get the chance to win a paid day off. Says Bauccio, "We all know how hard it can be to work full-time and cook for your family. We want to encourage a culinary culture that celebrates the flavors of the season, one that all our staff can be proud of, whether in our cafes or in their own kitchens." Four lucky winners will be selected randomly, and everyone who participates will get a special mention on the company's Facebook page.

Social Media Gets Locally Delicious

By opening the Eat Local Challenge to the public, the company is challenging home cooks to create their own 100% local meal. Participants are asked to post their menu and a photo of the completed dish on the Eat Local Challenge page on Facebook, where they can share their experiences of sourcing, preparing and serving their locavore dishes.

"When pushed to the challenge, professional chefs and at-home cooks alike can discover terrific new dishes and serve exciting, flavorful meals," says Bauccio. "When you use farm-fresh tomatoes, sustainably-grown greens, and organic poultry, you see a clear advantage these foods have over their factory-farm counterparts. These are the methods and meals our grandparents once employed and enjoyed."

And something the grandchildren are rediscovering. Facebook fans have already weighed in on how they currently or will soon source and prep local foods at home:

  • "Greetings from The Garden State… turns out it is indeed with all the nearby peaches, blueberries, corn and outstanding tomatoes and more … all within 6 miles."
  • "I love this! I will definitely be cooking a totally local menu …"
  • "I am hosting a potluck cookout – only locally produced foods allowed!"
  • "We sometimes get so wrapped up in looking at the distance that we don't see what is right in our neighborhood. Explore, discover, taste the wonders nature has to offer."
  • "There's nothing like taking a bite of a tomato straight of the vine on a warm summer day. So much to discover and cook with. The possibilities are endless."

In addition to the iPad grand prize, the first 50 people to complete all the steps in the Eat Local Challenge will also receive the Bittman app, which contains the entire contents of his book, "How to Cook Everything," and features over 2,000 recipes.

About Bon Appetit Management Company

Bon Appetit Management Company (www.bamco.com) is an onsite restaurant company offering full food service management to corporations, universities and specialty venues. Bon Appetit is committed to sourcing sustainable, local foods for all cafes throughout the country. A pioneer in environmentally sound sourcing policies, Bon Appetit has developed programs addressing local purchasing, the overuse of antibiotics, sustainable seafood, cage-free eggs, the connection between food and climate change, and most recently, farm workers' rights. The company has received numerous awards for its work from organizations like the Natural Resources Defense Council, Seafood Choices Alliance, The Humane Society of the United States, and Food Alliance. Based in Palo Alto, CA, Bon Appetit has more than 400 cafés in 30 states, including eBay, the University of Pennsylvania and the Getty Center.

SOURCE Bon Appetit Management Company

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http://www.bamco.com

Krispy Kreme Doughnuts, Inc. (NYSE: KKD) (the "Company") today reported financial results for the second quarter of fiscal 2011, ended August 1, 2010.  The Company also raised its earnings outlook for fiscal 2011 as a whole.

(Logo: http://www.newscom.com/cgi-bin/prnh/19991216/NYTH146 )

(Logo: http://photos.prnewswire.com/prnh/19991216/NYTH146 )

Second Quarter Fiscal 2011 Highlights Compared to the Year-Ago Period:

  • Revenues increased 6.3% to $87.9 million from $82.7 million
  • Excluding the effects of refranchising Company stores, revenues rose 8.2%
  • Company same store sales rose 5.7%, the seventh consecutive quarterly increase
  • Operating income increased 41.2% to $4.2 million from $2.9 million
  • Net income was $2.2 million, or $0.03 per share diluted, compared to a net loss of $157,000, or nil per share, in the second quarter last year

The Company ended the second quarter of fiscal 2011 with a total of 633 Krispy Kreme stores systemwide, a net increase of 17 shops during the quarter.  As of August 1, 2010, there were 84 Company stores and 549 franchise locations.

"Our financial results improved from the year ago period, as we realized revenue growth in all business segments, increased our consolidated operating income by roughly half, and delivered positive net income for the third consecutive quarter.  We are encouraged by the same store sales momentum at our Company stores, but also recognize that we must strengthen our execution so that top-line performance can more directly impact bottom-line profitability," said Jim Morgan, the Company's President and Chief Executive Officer.

Fiscal 2011 Outlook

"In our first quarter earnings release on June 3, we indicated that we expected operating income, exclusive of impairment charges and lease termination costs, to range from $11 million to $15 million for fiscal 2011.  Based on our results for the first half of the year, which exceeded our expectations, and other current information, we are raising that outlook.  We now estimate that fiscal 2011 operating income, exclusive of impairment charges and lease termination costs, will range from $13 million to $17 million," Morgan continued.

"As we look ahead, we will continue working diligently to implement our strategic initiatives with the intention of maximizing shareholder value.  Our transition is an ongoing process, and we are confident we can build an even stronger foundation for the future by continuing to both invest in our businesses and support our domestic and international franchisees.  These steps are critical to accelerating long-term growth in both revenues and earnings.  We believe that we are only beginning to unlock the potential of the Krispy Kreme brand for our guests, customers, franchisees, team members and shareholders," Morgan concluded.

Second Quarter Fiscal 2011 Results

Consolidated Results

For the second quarter ended August 1, 2010, revenues increased 6.3% to $87.9 million from $82.7 million.  Year-over-year revenue increases were generated in all four business segments.

Direct operating expenses increased to $76.9 million from $71.3 million, and as a percentage of total revenues, increased to 87.5% from 86.1%.  General and administrative expenses were $4.9 million compared to $4.8 million in the same period last year and, as a percentage of total revenues, decreased to 5.6% from 5.8%.  General and administrative expenses in the year-ago period included a non-recurring credit of $1.1 million from additional insurance proceeds related to litigation settled in October 2006.  Impairment charges and lease termination costs were a credit of $216,000 compared to a charge of $1.5 million in the year-ago period.  

Operating income increased 41.2% to $4.2 million from $2.9 million.  

Interest expense decreased to $1.6 million from $2.3 million, principally reflecting the Company's reduced level of indebtedness.

Net income was $2.2 million, or $0.03 per diluted share, compared to a net loss of $157,000, or nil per share, in the second quarter of last year.

Segment Results

Company Stores revenues were essentially flat at approximately $60 million.  Higher same store sales and off-premises sales to grocers/mass merchants were offset by locations that were either closed or refranchised along with lower off-premises sales to convenience stores.  Excluding the effects of refranchising, Company Stores revenues rose 4.0%.  Same store sales at Company stores rose 5.7%, the seventh consecutive quarterly increase.

Domestic Franchise revenues increased 15.1% to $2.1 million, reflecting an 8.8% rise in sales by domestic franchisees.  Excluding the effects of refranchising, sales by domestic franchisees rose 4.2%.  Same store sales rose 5.0% at domestic franchise stores.  The Domestic Franchise segment generated operating income of $1.0 million compared to $434,000 last year.  

International Franchise revenues increased 5.3% to $4.0 million, reflecting higher royalties from increased sales by international franchise stores.  A decline in international franchise same store sales was offset by new store openings.  Adjusted to eliminate the effects of changes in foreign exchange rates, International Franchise same store sales fell 14.3%, reflecting waning honeymoon effects from the 313 stores opened internationally in the past three years, as well as anticipated cannibalization as markets develop.  The International Franchise segment generated operating income of $2.5 million compared to $1.9 million last year.  International franchisees continued to expand, with a net increase of 16 locations in the second quarter.  

Total KK Supply Chain revenues (including sales to Company stores) rose 18.9% to $44.9 million, driven by selling price increases in major product categories and by higher unit volumes.  External KK Supply Chain revenues rose 26.7% to $21.9 million compared to $17.3 million in the second quarter last year.  KK Supply Chain generated operating income of $7.3 million compared to $5.7 million in the second quarter last year reflecting, among other things, higher revenues as well as lower freight and other distribution costs.

Conference Call

Management will host a conference call to review second quarter results as well as management's outlook for the balance of fiscal 2011 this afternoon at 4:30 p.m. (ET).  A live webcast of the conference call will be available at the Company's website at www.KrispyKreme.com.  The call also can be accessed live by dialing (888) 215-6918 or, for international callers, by dialing (913) 312-0934.  A replay will be available after the call and can be accessed by dialing (888) 203-1112 and entering the passcode 5687421.  International callers may access the replay by dialing (719) 457-0820 and entering passcode 5687421.  The audio replay will be available through September 9, 2010.  A transcript of the conference call also will be available at the Company's website.

Investor Conference Presentation

The Company will be presenting at the 8th Annual C.L. King Best Ideas Conference 2010 at The Omni Berkshire Place Hotel in New York City on Thursday, September 16, 2010.  The presentation is scheduled to begin at 1:45 p.m. (ET) and will be webcast from the Company's website.

About Krispy Kreme

Krispy Kreme is a leading branded specialty retailer and wholesaler of premium quality sweet treats and complementary products, including its signature Original Glazed® doughnut.  Headquartered in Winston-Salem, NC, the Company has offered the highest quality doughnuts and great tasting coffee since it was founded in 1937.  Today, Krispy Kreme shops can be found in over 630 locations in 19 countries around the world.  Visit us at www.KrispyKreme.com.

Information contained in this press release, other than historical information, should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are based on management's beliefs, assumptions and expectations of our future economic performance, considering the information currently available to management.  These statements are not statements of historical fact.  Forward-looking statements involve risks and uncertainties that may cause our actual results, performance or financial condition to differ materially from the expectations of future results, performance or financial condition we express or imply in any forward-looking statements.  The words "believe," "may," "could," "will," "should," "anticipate," "estimate," "expect," "intend," "objective," "seek," "strive" or similar words, or the negative of these words, identify forward-looking statements.  Factors that could contribute to these differences include, but are not limited to: the quality of Company and franchise store operations; our ability, and our dependence on the ability of our franchisees, to execute on our and their business plans; our relationships with our franchisees; our ability to implement our international growth strategy; our ability to implement our new domestic operating model; currency, economic, political and other risks associated with our international operations; the price and availability of raw materials needed to produce doughnut mixes and other ingredients; compliance with government regulations relating to food products and franchising; our relationships with off-premises customers; our ability to protect our trademarks and trade secrets; restrictions on our operations and compliance with covenants contained in our secured credit facilities; changes in customer preferences and perceptions; and risks associated with competition. These and other risks and uncertainties, which are described in more detail in the Company's most recent Annual Report on Form 10-K and other reports and statements filed with the United States Securities and Exchange Commission, are difficult to predict, contain uncertainties that may materially affect actual results and may be beyond the Company's control, and could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.  New factors emerge from time to time, and it is not possible for management to predict all such factors or to assess the impact of each such factor on the Company.  Any forward-looking statement speaks only as of the date on which such statement is made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.

KRISPY KREME DOUGHNUTS, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)


Three Months Ended

Six Months Ended



Aug. 1,
2010

Aug. 2,
2009

Aug. 1,
2010

Aug. 2,
2009


(In thousands, except per share amounts)

Revenues

$  87,932

$  82,730

$  180,049

$  176,150

Operating expenses:





  Direct operating expenses (exclusive of
   depreciation and amortization shown
   below)

76,938

71,258

153,981

148,226

  General and administrative expenses

4,926

4,817

10,676

11,131

  Depreciation and amortization expense

1,937

1,999

3,801

3,992

  Impairment charges and lease termination
   costs

(216)

1,456

1,083

3,813

  Other operating (income) and expense, net

192

257

298

267

Operating income

4,155

2,943

10,210

8,721

Interest income

82

14

122

28

Interest expense

(1,567)

(2,312)

(3,438)

(6,129)

Equity in income (losses) of equity method
 franchisees

(165)

(214)

181

(113)

Other non-operating income and (expense),
 net

81

(500)

162

(500)

Income (loss) before income taxes

2,586

(69)

7,237

2,007

Provision for income taxes

379

88

562

296

Net income (loss)

$  2,207

$  (157)

$  6,675

$  1,711






Earnings per common share:





  Basic

$  .03

$  —

$  .10

$  .03

  Diluted

$  .03

$  —

$  .10

$  .03






Weighted average shares outstanding:





  Basic

68,195

67,350

68,145

67,225

  Diluted

69,327

67,350

69,279

67,830




KRISPY KREME DOUGHNUTS, INC.
CONSOLIDATED BALANCE SHEET
(Unaudited)


Aug. 1,
2010

Jan. 31,
2010


(In thousands)

                                            ASSETS

CURRENT ASSETS:



Cash and cash equivalents

$  21,235

$  20,215

Receivables

19,172

17,839

Receivables from equity method franchisees

604

524

Inventories

14,427

14,321

Other current assets

5,781

6,324

  Total current assets

61,219

59,223

Property and equipment

71,252

72,527

Investments in equity method franchisees

1,089

781

Goodwill and other intangible assets

23,816

23,816

Other assets

10,548

8,929

  Total assets

$  167,924

$  165,276


                  LIABILITIES AND SHAREHOLDERS' EQUITY



CURRENT LIABILITIES:



Current maturities of long-term debt

$  686

$  762

Accounts payable

6,100

6,708

Accrued liabilities

27,362

30,203

  Total current liabilities

34,148

37,673

Long-term debt, less current maturities

41,181

42,685

Other long-term obligations

19,807

22,151

Commitments and contingencies



SHAREHOLDERS' EQUITY:



Preferred stock, no par value

Common stock, no par value

368,131

366,237

Accumulated other comprehensive loss

(73)

(180)

Accumulated deficit

(295,270)

(303,290)

  Total shareholders' equity

72,788

62,767

     Total liabilities and shareholders' equity

$  167,924

$  165,276




KRISPY KREME DOUGHNUTS, INC.
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)


Six Months Ended


Aug, 1,
2010

Aug. 2,
2009


(In thousands)

CASH FLOW FROM OPERATING ACTIVITIES:



Net income

$  6,675

$  1,711

Adjustments to reconcile net income to net cash provided by operating activities:



  Depreciation and amortization

3,801

3,992

  Deferred income taxes

(70)

(283)

  Impairment charges

709

1,220

  Accrued rent expense

(395)

(468)

  Loss on disposal of property and equipment

279

366

  Impairment of investment in equity method franchisee

500

  Unrealized loss on interest rate derivatives

419

  Share-based c

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