SALT LAKE CITY, UT / ACCESSWIRE / December 16, 2014 / A U.S. economy that until now had been limping toward recovery, finally showed major signs of life in the several few months. In November, workers’ wages increased by nearly a half of a percent, and this increase was supplemented by plummeting gas prices, in addition to promising trends in the unemployment rate, which continues to fall. This all amounts to a few thousand dollars extra per year for the average American family to spend as they like. That’s great news for the upscale dining sector, and especially an up-and-coming contender like Latitude 360 (LATX) whose primarily customers are middle-class Americans with a little extra income to spend on entertainment and a quality meal packaged together in a memorable night out.
LATX trades at 1.30, a reasonable rate for a company this innovative and fast-growing. Anyone in doubt of the Company’s long term stability need only take note of the many locations opening over just the next few months. The Company has three grand openings on their way in some of the biggest markets in the United States, including New York, Massachusetts, and Minneapolis, with each of these ambitious dining and entertainment venues tallying several thousand square feet of real estate.
Latitude 360 is buoyed not only by a re surging economy, but also by a strong business model and unique product. The Company rode a strong wave of success in 2014, with year-over-year sales growth in July and August for each of its individual locations. Recent market research on upscale dining shows a 5% rate of increased visits since 2011, not to mention that LATX’s business model expands on the entertainment aspects of other companies, as innovations like a game room, comedy club, and cigar lounge stand to ramp up customer appeal.
LATX is not the only restaurant group for whom the economic recovery has spelled success. Ruby Tuesday (NYSE:RT), at 8.21 per share with a 561K average volume, proved the vitality of its brand over the last few months, while Kona Grill, Inc. (KONA) announced a new menu and once again displayed its staying power as an upscale dining staple. Both companies experienced some of their best closings in years during the months of October and November.
But the main reason Latitude 360 is poised to capitalize on the economy’s revival is its management anchored by decades of experience in both the restaurant industry and the financial sector. CEO and Founder Brent Brown has held high-level positions in real estate and investment banking going back the better part of two decades. His reliable leadership and unique set of expertise allow Latitude 360 to succeed as a business that relies on large-scale brick and mortar locations.
Mr. Brown’s vision resulted in Latitude 360’s chic styles that give the company an exclusive, night club atmosphere while also allowing it to appeal to professionals seeking an entertaining, but casual night out. This particular brand of all-appeal marketing accounts for the success of other restaurants like KONA and Chuy Holdings, Inc. (CHUY), which attempt to reel in particular demographics via a specific style, while also retaining universal appeal. LATX strikes that same balance through both its wide selection of entertainment and its overall décor.
Through innovation, pitch-perfect planning, and executives with a sense for long-term business success, Latitude 360 manages to achieve mass appeal with a very specific concept. It does so at a time when the current upswing in the U.S. economy gives the middle class incentive and the financial means to enjoy everything Latitude 360 has to offer. Given these factors and large-scale growth in the company’s number of locations right around the corner, LATX is a company worth a second glance.
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SOURCE: Seraphim Strategies