Third San Antonio Location Puts Tootie Pie Company on Track for 2010 Revenue Goals
Mar. 11, 2010 (Business Wire) — Tootie Pie Company, Inc. (OTCBB:TOOT) will sell its high-quality, handmade pies in the newest Tootie Pie Co. Gourmet Café at The Shops at Artisans Alley, a prestigious retail location with dozens of upscale shops, located near several affluent neighborhoods in north central San Antonio.
Terms of the transaction were not disclosed.
Like its two other San Antonio cafés, The Shops at Artisans Alley location has an established clientele and will sell Tootie Pie, coffee, bagels, gourmet sandwiches, pastries and other comfort foods from 7 a.m. until 7 p.m. The newest location will offer more of a “tea house” environment, complete with a “High Tea” from 3-5 p.m. The Company is looking for two more existing locations in the San Antonio area.
“The Shops at Artisans Alley is a premier destination high end shopping center, located right in the heart of our demographic, that has a proven ability to draw a significant tourist clientele from all over the U.S.,” said Don Merrill, Tootie Pie Company’s President and CEO. “We envision our customers enjoying Tootie Pie in our Gourmet Cafés, and at home or the office by way of their local grocery store or our website where ordering is easy.”
Merrill says the Café at Artisans Alley should fall right in line with the company’s 2010 revenue forecasts and long-term goals.
“The previous tenant was generating strong sales in food and beverage and we expect the same for our Gourmet Café,” Merrill said. “Our third Café’s expected revenue, combined with the other two existing Cafés, should enable us to achieve our annual revenue goal of $3 million.”
Merrill said 2009 proved to be a turning point year for Tootie Pie Company and the Gourmet Cafés have helped increase higher margin retail sales and brand awareness.
“Our Tootie Pie Co. Gourmet Cafés serve as models of success for our continued organic growth in foodservice and grocery sales,” he added.
About Tootie Pie Co.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual consumers through in-store sales, orders via telephone and internet on the Company’s website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels. Tootie Pie Company is a public company traded on the NASDAQ OTC market under the symbol “TOOT.” For additional information or to receive correspondence from Tootie Pie Company, please visit www.tootiepieco.com.
This press release may contain forward-looking statements. The words “believe,” “expect,” “should,” “intend,” “estimate,” and “projects,” variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company’s current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company’s filings, which are on file with the U.S. Securities and Exchange Commission (SEC).
Source: Business Wire (March 11, 2010 – 9:30 AM EST)