TL;DR
Freshii closes 18 locations in Target stores due to disappointing sales and will open 90 to 95 new locations this year. The chain's development has outpaced its ability to handle the quick expansion, leading to a reduced estimate of net new openings.
The healthy fast-casual chain Freshii has announced that it will be opening fewer units this year because of scheduling and development delays. According to a recent Nation's Restaurant News article, one big reason for the announcement is due to the closing of 18 locations inside Target stores after disappointing sales. The chain’s development has outpaced its ability to handle the quick expansion and it is now expecting 90 to 95 net new openings as opposed to its previous estimate of 150 to 160 for the year.
“We missed our internal expectations for the quarter,” said Freshii founder and CEO Matthew Corrin. “Today’s announcement is extremely disappointing to me.”
Freshii has extensively reviewed the Target relationship and its non-traditional locations to improve brand, site selection and menu mix for future locations and nontrade partnerships.
In this story
This story was originally published in 1851 Franchise on September 26, 2017. Burnaze summarizes and links to the original reporting.
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