USA: Granite City Food & Brewery reports 69% rise in Q2 sales

Granite City Food & Brewery Ltd. (GCFB), an operator of casual dining restaurants, reported July 17 that its second quarter sales jumped 69% to $14.4 million from $8.5 million reported in the same period last year. The company attributed the growth in revenues to increase in repeat customers and new customers, RTT News said July 17.

Two analysts polled by First Call/Thomson Financial expected the company to report revenues of $13.04 million for the quarter.

The Minneapolis, Minnesota-based company said its comparable restaurants sales increased 5.1% in the quarter compared to the year ago period.

For the six months, total revenues surged 60% to $26.3 million from $16.4 million for the same period last year. Meanwhile, year to date comparable restaurants sales increased 5.3% year-over-year.

GCFB is currently trading at $4.10, up $0.20 or 5.13% on a volume of 3,800 shares.

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