×

World's Pricing Science Leader to Engage in Famous Dave's Growth Strategy

Famous Dave's of America Logo

MINNEAPOLIS, Dec. 19, 2012 (GLOBE NEWSWIRE) -- A new pricing strategy is on the menu for Famous Dave's (Famous Dave's) (Nasdaq:DAVE). The company will engage the world's leading restaurant analytics consultancy, Revenue Management Solutions (RMS), for all pricing and menu optimization work. "Menu optimization is a critical component of our strategy," said John Gilbert, Famous Dave's CEO, "which includes maximizing profits on our current transactions and developing a pricing model that encourages repeat visits."

RMS is known within the restaurant industry to have been the consultancy behind pricing at the world's largest restaurant companies. The company – whose client list includes 33 brands in 34 countries – delivers impressive results, with a goal of driving, at minimum, 1% of sales to the bottom line.

"We have substantial opportunities in front of us," said Gilbert. "RMS leads the industry in the science of menu strategy – it's amazing stuff, RMS actually uses consumer demand to gauge the effectiveness of pricing and menu decisions – and the impact this work presents to our financial position is significant."

ABOUT FAMOUS DAVE'S:

Famous Dave's of America, Inc. (Nasdaq:DAVE) develops, owns, operates and franchises barbeque restaurants. The company owns 54 locations and franchises 135 additional units in 33 states and 1 Canadian province. The menu features award-winning barbequed and grilled meats, a large selection of salads, side items and sandwiches and unique desserts. Famous Dave's has won over 646 awards for everything from best ribs to best Bar-B-Que sauce to best cookbook. For more information, please visit www.famousdaves.com.

The Famous Dave's of America, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7726

CONTACT: MEDIA CONTACT: Gretchen Anthony Famous Dave's of America 952-294-1300 gretchen.anthony@famousdaves.com

Source:Famous Dave's of America