MOD pizza confirms further openings.
US restaurant chain MOD pizza has confirmed it expects to open another four sites in the UK by the end of the year and a further 50 sites in the US. The group, which opened its first UK in Leeds in May, saw system-wide sales rise 168% and to $70.5m in the first half of its financial year. The growth was driven by the addition of 80 sites – an increase of 138% – and a 7.8% growth in like-for-like sales across its managed and licensed stores. During the first half of this year MOD expanded into three new markets in the US and its first international location in the US, making an estate of 138 globally. The group has recently secured a site off Leicester Square as well as in Brighton Marina, Nottingham and Newcastle. Scott Svenson, co-founder and chief executive of MOD Pizza, said: “MOD experience another transformational period of growth during the first half of 2016, increasing the size of our system-wide store base by 50% since the beginning of the year. We accomplished this while strengthening existing stores and our unique purpose driven culture. Our ability to effectively execute our growth plan is a reflection of the hard work and dedication of our incredible team, led by our store General Managers and MOD Squaders”.
Article via MCA Report.