Southern Concepts Opens New Fast Casual Restaurant in Colorado

Southern Concepts Opens New Fast Casual Restaurant in Colorado

By: Dylan Sikes - AllPennyStocks.com News

Monday, November 9, 2015

Last week, the Labor Department reported that the U.S. economy added 271,000 jobs in October. The labor market in the U.S. is continuing to show signs of recovery, which is good news for the restaurant industry in the U.S. Improving labor market conditions mean that consumers will not shy away from discretionary spending. Indeed, this is what the National Restaurant Association (NRA) is also forecasting. The NRA said earlier this year that driven by a strengthening economy, restaurant industry sales are expected to reach record high levels in 2015.


The NRA expects restaurant-and-foodservice sales to exceed $709 billion in 2015. This would represent an increase of 3.8% over the previous year. After adjusting for inflation, sales are expected to increase 1.5% in 2015. According to the NRA, 2015 will represent the sixth consecutive year of real growth in restaurant sales. However, does note that the gains will remain below what would be expected during a normal post-recession period.

In terms of segments, eating places, which includes table service restaurants and quick service restaurants, cafeterias and buffets, social caterers and snack and nonalcoholic beverage bars, are expected to see sales of $471.1 billion.

The outlook for the restaurant industry continues to improve as the labor market in the U.S. continues to improve. Not surprisingly, restaurant companies are bringing in new concepts to capitalize on an ongoing recovery.

This morning, Southern Concept Restaurant Group Inc. (OTCQB:RIBS), which operates Southern Hospitality Restaurant and Bar, announced its new fast casual concept, Carve Barbecue. The restaurant has been opened in Glendale, Colorado. It is located at 1000 South Colorado Boulevard in Glendale, next to Tokyo Joe’s and Modmarket.

The 2,500 square foot modern interior can accommodate 88 patrons. There is options for additional seating on a covered heated patio.

The restaurant features an assembly line with a visible “Butcher Room.” The room displays all-natural meats, which are prepared for smoking on location in the restaurant’s custom-designed Ole Hickory Smoker.

Mitchell Roth, President and CEO of Southern Concept Restaurant, said that with Carve, the company is introducing a lifestyle brand based on the highest quality barbecue and natural ingredients. Roth further said that the concept fits today’s consumer better than any other barbecue concept in the market by embracing the transparency and sustainability that has launched many popular fast casual concepts.

Investors don’t seem to be specifically excited about today’s announcement, with shares down a substantial 12.6% in afternoon trading, albeit on low trading volume.

Copyright © 2015 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Other Penny Stock Movers

Miner Scores with Acquisition of Promising Silver District in Mexico
Mixed Signals: Durable Goods Orders Up, But Not All Sectors Are Soaring
Biotech Steals The Show Following Pre-Clinical Data Announcement
Most Popular
FREE Newsletter


Back to Top