Good afternoon all. We just wanted to clarify something stated in this morning's look at Giggles N Hugs (GIGL). Though it appears everyone understood it was a typo, in the interest of clarity and fairness, Giggles N Hugs did not drive $822 million in sales last quarter. It generated $0.822 million in sales for Q1, or $822,000.
As was said, the few who even noticed it appear to have understood this, particularly in the context of the discussion surrounding the number. Specifically, we noted the organization is currently operating three stores, and the expected annual revenue for a developed unit was $1.5 million. It was further explained how 25 stores would generate approximately $40 million in annual sales, so the error would have been noticed immediately. Again though, we want to make sure there's not even an opportunity for confusion to develop.
Regardless, the trailing revenue figure changes nothing about the growth opportunity or the reason one would want to own the stock. Giggles N Hugs is a tremendous concept, and we look forward to watching it grow in the months and years ahead.