Einstein Noah Restaurant Group Inc.
) recently declared the appointment of John Coletta as chief
financial officer (CFO). Coletta will replace Manny Hilario who
was appointed chief operations officer in July. Coletta,
currently CFO at Quiznos, a restaurant company with 3,000 units
across 33 countries, will take over the reins from Oct 21.
Coletta has donned many important roles in his illustrious
career. He was the president at the food division of Quiznos.
Previously, he held the position of CFO at Real Goods Solar, a
leading publicly traded U.S. solar integration company with
retail consumer facing operations; at Cartridge World, a global
franchising retail company operating in more than 63 countries
and at Rock Bottom Restaurants, Inc., a formerly public, national
restaurant company that owns Old Chicago, Rock Bottom, Chophouse,
Sing Sing and Boulder Beer brands.
Considering Coletta's acumen in financial management and his
25-year long managerial experience in restaurants, hospitality,
retail & development, he can easily be labeled as a veteran
in the sector. We believe, he will likely provide meaningful
support to Einstein Noah' growth and profitability, going
Lakewood, Colo.-based Einstein Group's performance has been
faltering over the last few quarters. Its revenue performance in
the second quarter remained choppy, falling short of the Zacks
Consensus Estimate for the seventh straight quarter. Though
earnings grew more than 11% year over year, due to improved
margin performance and a narrower rate of transaction decline,
the company still has a long way to go to match other industry
Hence, we believe, Coletta's new role entrusts him with
additional responsibility to give a boost to the company's
performance, which has so far been sluggish. Einstein Noah
currently carries a Zacks Rank #3 (Hold). Other players in the
industry, which are better placed include
AFC Enterprises Inc.
CEC Entertainment Inc.
) and B
urger King Worldwide Inc.
), all carrying a Zacks Rank #2 (Buy).
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