Rocky Mountain Chocolate Factory Announces Franchise Growth in First Six Months of 2022
DURANGO, CO /ACCESSWIRE/June 23, 2022/ Rocky Mountain Chocolate Factory, Inc. (NASDAQ: RMCF) (the “Company” or “RMCF”), today announced five new store openings in its first quarter of fiscal 2023 ending May 31, 2022 , and plans to open three more stores by the end of the summer.
“We believe our brand is strong and our franchise opportunity is compelling and appeals to potential and existing owners,” said Managing Director Rob Sarlls. “To be recognized as the #1 chocolate and candy store retailer in Newsweek The magazine’s “America’s Best Retailers for 2022″ reinforces the company’s reputation for helping its retailers satisfy its end customers. Over the next 50 weeks, I will continue to meet face-to-face with franchisees to learn how together we can help them become even more productive. I also plan to attend as many official store openings as possible.”
Quality and brand support were especially important to new store owners Kathy and Brian Silk, who recently launched a soft-opening of their RMCF store in the growing community of Meridian, Idaho, which is part of the Boise metropolitan area. They were looking to use their combined strengths in sales and logistics, along with their love of chocolate, to run their own business and create a legacy for their children and grandchildren, who work in the store today. “What sold us at RMCF was our confidence in their level of guidance and ongoing support,” Ms Silk said. “They exceeded our high expectations.”
This is particularly important for Mr. Silk, who oversees the store on a daily basis. “Associating with Rocky Mountain Chocolate Factory, which has done a great job in building a nationally recognized brand, enhances our ability to serve our community,” he said. “Our customers appreciate the extra level of service and consistent product quality we provide.”
The stores that were opened during the Company’s first quarter of fiscal 2023 were as follows:
Amarillo, Texas – May 21, 2022*
Meridian, Idaho – May 13, 2022
San Antonio, TX – May 6, 2022*
Shorewood, Illinois – March 18, 2022*
Vernal, Utah – March 1, 2022*
* Co-branded with Cold Stone Creamery
RMCF will host its biannual National Franchise Convention in Indio, California in September. The three-day event was themed “Connect. Collaborate. Celebrate.” will provide franchise store owners, managers and company staff the opportunity to interact and exchange ideas in person. Networking events and educational seminars will focus on empowering franchisees to take advantage of the company’s brand value proposition and vision for the future.
About Rocky Mountain Chocolate Factory, Inc.
Rocky Mountain Chocolate Factory, Inc., headquartered in Durango, Colorado, is an international franchisor of gourmet chocolate, confectionery and self-service frozen yogurt stores and manufacturer of an extensive line of premium chocolates and other confectionary products. The Company, its subsidiaries and its franchisees and licensees operate more than 325 Rocky Mountain Chocolate Factory and self-service frozen yogurt stores in the United States, South Korea, Qatar, the Republic of Panama and the Republic of the Philippines . The common shares of the Company are listed on the Nasdaq Global Market under the symbol “RMCF”.
This press release contains statements about the Company’s expectations, intentions, plans and beliefs that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to fall within the safe harbor protection provided by those sections. These statements include, but are not limited to, statements regarding planned store openings by the end of the summer and in-store visits by the Company’s CEO. These forward-looking statements involve various risks and uncertainties. The nature of the Company’s activities and the environment in which it operates subject it to changing economic, competitive, regulatory and technological conditions, risks and uncertainties. Statements, other than statements of historical fact, included in this press release are forward-looking statements. Many forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “will”, “intend”, “believe”, “expect”, “anticipate”, ” should”, “plan”, “estimate”, “potential”, “prospects”, “build” or similar expressions. Factors that could cause results to vary include, but are not limited to: the impacts of the COVID-19 pandemic and global economic conditions on the Company’s business, including, but not limited to, disruptions to our supply chain. sourcing, including but not limited to: raw material and freight costs, availability of skilled labor, online sales, factory sales, retail sales and royalty and marketing expenses, the Company’s liquidity, the Company’s cost reduction and capital preservation measures, the realization of anticipated potential benefits of the strategic alliance with Edible Arrangements®, LLC and its companies affiliates (“Edible”), the ability to provide products to Edible under the strategic alliance, Edible’s ability to increase the Company’s online sales through the agreements with Edible, the outcome of any proceedings judicial involving the Company, including but not limited to legal proceedings brought against Immaculate Confections, the operator of RMCF branches in Canada, changes in the confectionery business environment, seasonality, consumer interest for the Company’s products, general economic conditions, the success of the Company’s frozen yogurt business, the receptivity of the Company’s products internationally, consumer and retail trends, costs and the availability of raw materials, competition, the success of the Company’s co-branding strategy, the success of international expansion efforts and the effect of government regulations. Government regulations to which the Company and its franchisees and licensees are or may be subject and which could cause results to differ from the forward-looking statements include, but are not limited to, local, state and federal laws regarding health, sanitation, safety, building and fire codes, franchising, licensing, employment, manufacturing, packaging and distribution of food products and motor carriers. For a detailed discussion of the risks and uncertainties that could cause the Company’s actual results to differ from the forward-looking statements contained herein, please see the section titled “Risk Factors” contained in Section 1A. of the Company’s Annual Report on Form 10-K for the fiscal year ended February 28, 2022. Additional factors that could cause such differences include, but are not limited to: the duration and severity of the current pandemic COVID-19 and its effect on, among other things, factory sales, retail sales, royalties and marketing expenses and operations, the effect of any government action or mandatory benefits paid by the employer in response to the COVID-19 pandemic, and the Company’s ability to manage costs and reduce expenses in the current economic environment and the availability of additional financing if needed. These forward-looking statements speak only as of the date hereof. As such, they should not be unduly invoked for more current circumstances. Except as required by law, the Company undertakes no obligation to publicly release any revisions to these forward-looking statements that may reflect events or circumstances occurring after the date of this press release or those that may reflect the occurrence of unforeseen events.
Important additional information and where to find it
RMCF intends to file a proxy statement on Schedule 14A, an accompanying proxy card and other relevant documents with the Securities and Exchange Commission (the “SEC”) in connection with this solicitation. proxies to RMCF shareholders for RMCF’s 2022 annual meeting of shareholders. RMCF SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ RMCF‘THE DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR ADDITIONS THEREOF) AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and shareholders may obtain, free of charge, a copy of the definitive proxy statement, an accompanying proxy card, any amendments or supplements to the definitive proxy statement and other documents filed by RMCF with the SEC on the SEC’s website at www.sec.gov. Copies will also be available free of charge in the “SEC Filings” section of RMCF’s Investor Relations website at www.rmcf.com/Investor-Relations.aspx or by contacting the Investor Relations Department of RMCF at (970) 259-0554, as soon as reasonably practicable after such documents are electronically filed with or furnished to the SEC.
Certain Information Regarding Participants in the Solicitation
RMCF, its directors and certain of its senior officers participate in soliciting proxies from RMCF shareholders in connection with matters to be considered at the annual meeting. Information regarding the direct and indirect interests, through stock ownership or otherwise in RMCF, of RMCF’s directors and officers, is included in RMCF’s proxy statement at Schedule 14A for its 2021 Annual Meeting of Shareholders. , filed with the SEC on September 9, 2021, and other filings of the Company, its directors and certain of its senior officers with the SEC from time to time. Changes in the direct or indirect interests of directors and officers of RMCF are set forth in filings with the SEC on initial declarations of beneficial ownership on Form 3, declarations of change of ownership on Form 4 and declarations Annual Beneficial Ownership Changes on Form 5. These documents are available free of charge as described above. Updated information regarding the identity of potential participants and their direct or indirect interests, through stock ownership or otherwise, in RMCF will be set forth in the proxy statement for RMCF’s 2022 annual meeting of shareholders and in other relevant documents to be filed with the SEC, if and when they become available.
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