Nashville, Tennessee-At its recently completed national franchise convention in Las Vegas, Captain D's Seafood reported record-breaking sales milestones to its franchisees for the 2003 fiscal year. Ron Walker, president and chief operating officer of Captain D's, told the franchisees in attendance that the seafood chain set an all-time sales record in 2003. That makes nine times out of the past 11 years that the company has experienced positive same-store sales growth. Walker also announced that, for the first time in company history, the average unit sales volume topped $900,000; a total of 174 stores (31% of the system) generated $1 million in sales, an all-time high; and two Captain D's locations generated $2 million in sales, also a new company record.
Captain D's told its franchisees that it has the capital to open up to 20 company stores, in addition to 20 new franchise locations being planned in its 2004 fiscal year. That would be the most store openings for the chain since 1987. Captain D's also signed multiple franchise development agreements for a total of 42 stores in 2003, the highest total for the company since 1992. -Captain D's Seafood