Smoothie King Plans for 100 Unit Expansion in 2024

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THAT MF SMOOTH AF

Smoothie King Reports Strong Sales Growth and Expansion Plans for 2024 (Read More)

Smoothie King, a privately held company, announced an impressive 11.5% increase in same-store sales and positive traffic growth in 2023. The Dallas-based company, with approximately 1,100 locations, expects to open 100 new units this year, expanding into Massachusetts, Minnesota, New Hampshire, and Utah.

• Sales Surge: Smoothie King experienced the highest sales period in their 50-year history in Q3 and a significant increase in new developments in Q4.

• Menu Innovation: The company introduced eight smoothie bowls in 2023, becoming one of the largest smoothie bowl destinations in the country.

• Expansion Plans: Q4 2023 marked the largest signings quarter since 2017, with 39 franchise agreements and 20 area development commitments, adding 189 new store commitments to the pipeline.

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• Whistle Express expands in Louisville as it acquires seven carwash locations in the area, including three Thomas Car Wash, three Clean Waves, and one The Car Wash Company. With these acquisitions, Whistle Express now has a total of 120 locations nationwide. The company plans to open another location in partnership with Clean Waves. Whistle Express has become the 10th largest carwash operator in America, aiming to double its size in the near future. The company will be investing in upgrading the acquired locations to offer its industry-leading technology and services to drivers in Louisville. (Read More)

• JPMorgan Chase plans to add 500 branches:. The financial institution intends to add 500 Chase bank branches and renovate 1,700 existing locations in the next three years. The expansion will target cities like Boston, Washington, D.C., and Charlotte, as well as low-income rural communities. The investment will create 3,500 new jobs, boost local economies, and provide banking access to historically underserved communities. JPMorgan's strategy contrasts with competitors' focus on digital banking. The company's stock closed at $174.50 per share on Feb. 5, up 26% from last year. (Read More)

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