UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report: (Date of Earliest Event Reported):
November 2, 1998
THE QUIZNO'S CORPORATION
(Exact name of registrant as specified in its charter)
Colorado 000-23174 84-1169286
(State or other
jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification
No.)
1099 18th Street, Suite 2850, Denver, Colorado, 80202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303)291-0999
Item 5. Other Events. Other event
Classic Subs Opens Record 50 New Locations in 3rd Q
Reg. S-K
Exhibit No. Description Item No.
*99.1 Press release 99
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE QUIZNO'S CORPORATION
Date: November 2, 1998 By:/s/ John L. Gallivan
John L. Gallivan, Chief Financial Officer
<PAGE>
EXHIBIT INDEX
Reg. S-K
Exhibit No. Description Item No.
*99.1 Press release 1
QUIZNO'S Classic Subs Opens Record 50 New Locations in 3rd Q
DENVER, Colo. - November 2, 1998 - The Quizno's Corporation (Nasdaq: QUIZ)
announced it opened 50 new locations across the U.S. and Canada during the 3rd
quarter ended September 30, 1998. The openings are a record for QUIZNO'S(R)
Classic Subs locations opened in a single quarter since the chain began its
expansion from a Denver-based regional chain of 18 restaurants in 1991.
One of the 50 locations was a converted Sub & Stuff in Wichita. QUIZNO'S
acquired the Sub & Stuff chain last summer and is in the process of converting
seven more locations over the next six months.
In a preliminary 3rd quarter report, QUIZNO'S also announced system wide sales
of $28 million, a 79% increase over the $15.6 million in system wide sales for
the 3rd quarter of 1997.
The Company sold 84 new franchises in the 3rd quarter, including 20 in Canada.
In late September, the Company announced it had signed a Master Franchise
Agreement to develop as many as 300 QUIZNO'S Classic Subs restaurants in Japan
over the next 10 years.
"Our strong growth in street locations has been consistent between 39 and 43 a
quarter since the 2nd quarter of 1997," said Rick Schaden, QUIZNO'S President
and CEO. "We're especially pleased to have achieved a new milestone with 50 new
locations this past quarter."
Final 3rd quarter earnings are expected to be released the second week of
November. QUIZNO'S, known for its signature oven baked subs, currently is open
in 35 states, Puerto Rico and Canada. The chain has 440 restaurants, including a
number of Bain's Delis and Sub & Stuff units.
This release contains forward-looking statements (as defined in the Private
Securities Litigation Reform Act of 1995) that are subject to risks and
uncertainties that could cause actual results to differ materially from those
set forth in the forward-looking statements. Such risks and uncertainties
include the effect of national and regional economic and market conditions, the
eating habits of the American, Canadian and Japanese public, cost of labor and
employee benefits, cost of marketing, intensity of competition for locations as
well as customers, perception of food safety, legal claims and the availability
of financing for the Company and its franchisees. Such risks are detailed from
time to time in the Company's reports filed with the SEC, including the report
on Form 10-KSB for the year ended December 31, 1997.
For More Information Contact:
Sue Hoover, Executive Vice President, Marketing
The Quizno's Corporation
303-291-0999, ext. 3242
