JACKSONVILLE, Florida – September 3, 2014 – Latitude 360 (OTCQB: LATX) (L360), an award-winning, premier upscale casual dining and state-of-the-art entertainment venue operator, today provided investors with an intra-quarter update, reflecting noteworthy same-store sales growth of 7.7% for July and August 2014, versus the comparable 2013 two-month period.
Latitude 360 CEO/Founder Brent Brown stated, “We are delighted to report strong operating results comparisons for the recent July-August timeframe, especially during a challenging period for the overall restaurant and retail industries. A large portion of our organization’s noteworthy recent performance is directly attributable to the highly successful introduction of the L360 Club Membership and VIP Rewards Programs in mid-June. We initially launched these popular Programs at our flagship L360 Jacksonville, and subsequently rolled them out to our Pittsburgh and Indianapolis locations.
“In addition to generating top-line same-store sales growth, since introducing these Programs we are also seeing five-fold increases in advance reservations for stand-up comedy performances, luxury bowling and Hollywood movies at our venues. In less than three months we have already signed up close to 1,000 Club memberships – at between $25-$50 per month – underscoring customer loyalty, positive word-of-mouth recommendations and an increasing number of repeat visits from many satisfied guests, which is what we are striving for. We also expect to benefit over the long-term by leveraging the recurring revenues generated by our Membership and VIP Rewards Programs.”
To become a Club or VIP Rewards Member guests can visit one of the L360 locations in Jacksonville, FL, Pittsburgh, PA or Indianapolis, IN and speak with a staff member, or they may opt to register online.
The Latitude 360X Club Membership Program delivers incredible value to frequent visitors and corporate clients at a low monthly rate ($25-$50). Latitude 360X Club Blue Members and Black Members receive exclusive perks, rewards, benefits and services at the beginning of each month and earn double-to-triple the points on purchases at one of L360’s premier venues.
The Latitude 360 VIP Rewards Program is free, easy-to-use, and offers a unique opportunity to earn points toward exceptional rewards, including L360 food and beverage offerings and a wide variety of best-in-class entertainment.
Separately, L360 was recently informed by the Jacksonville Business Journal that it has been selected for their ‘Florida Fast 100’ list of the state’s fastest growing companies. The winners of the ‘Florida Fast 100,’ including L360, are ranked by their percentage of revenue growth from 2011-2013 and must have met a minimum requirement of earning $1,000,000 in revenue for 2011 and $5,000,000 in revenue for 2013.