Company reports system-wide results: 102 net new restaurants, system-wide sales of $398 million and the creation of approximately 2,000 new jobs
SEATTLE (April 28, 2019) – MOD Super-Fast Pizza Holdings, LLC (“MOD Pizza”, “MOD” or the “Company”) today announced 2018 year-end results that reflect continued new store growth and strong performance from existing stores. During the 2018 fiscal year, MOD added 102 locations system-wide, for a total of 404 system-wide stores, and grew domestic same-store sales by 3.1%. System-wide sales reached $398 million, reflecting a year-over-year increase of 45%; company net revenue was $312 million, up 42% over 2017.
“I am extremely proud of the growing impact MOD is making in the United States and the United Kingdom as a result of our ongoing expansion,” said Scott Svenson, co-founder and CEO of MOD. “As a by-product of our growth, MOD created approximately 2,000 new jobs and provided opportunities to many individuals who often face barriers to employment. At the end of 2018, the MOD Squad was over 8,100 strong and growing. Over the past year, we also contributed $1.8 million to local non-profits and to help support MOD Squad members in need. These contributions, achieved with the help of our franchisees, included the delivery of nearly 450,000 meals as part of our continued efforts to address childhood hunger in partnership with Generosity Feeds.”
Also during 2018, MOD debuted its first “Impact Pizza”– the Isaac – named for a MOD customer who died by suicide, and donated over $60,000 to the JED Foundation, in support of their mission to protect the emotional health of teens and young adults.
The Company further strengthened its executive team with the appointment of John Maguire as chief operating officer and Mark Shambura as chief marketing officer. Prior to MOD, Maguire was the CEO of two iconic restaurant brands, Friendly’s Ice Cream and Johnny Rockets, while Shambura previously led the marketing team at Chipotle Mexican Grill.
MOD was again recognized during 2018 for our continued growth, strong connection with consumers, and expanding social impact, including: for the third year running, recognized by Technomic as America’s fastest growing chain restaurant, named by Fortune as a “Best Workplace for Women” and “Best Workplace for Millennials”, earned a spot on the Inc.5000 list, received the Advance Award from AWB (Association for Washington Business) for its cause-oriented employment work, and the Breaking Barriers Award from Disability Rights Washington for advancing the rights and improving the lives of people with disabilities.
Definitions:
The following definitions apply to these terms as used throughout this release:
MOD operates using a 52/53-week fiscal year reflective of 13 four-week periods in a year. The first fiscal quarter consists of 16 weeks and each of the second, third and fourth fiscal quarters consists of 12 weeks, except for a 53-week year when the fourth quarter has 13 weeks.
The term “system-wide” refers to all company-operated and licensed store locations.
Domestic same-store sales growth reflects the year over year change in sales for the comparable system-wide store base in the US. A store becomes comparable after its 19th period of operation.
ABOUT MOD PIZZA:
MOD is a purpose-led, people focused brand, founded in Seattle in 2008 by entrepreneur husband and wife team Scott and Ally Svenson. MOD exists to serve people by Spreading MODness, using the platform of pizza to make positive impacts. With 420+ locations system-wide across 28 states and the United Kingdom, MOD is committed to creating not only a cool place to eat, but an inspired place to work. For more information, please visit www.modpizza.com or connect with the brand via Facebook, Twitter or Instagram.
# # #