Latitude 360 (LATX) Announces Positive 4th Quarter Sales Momentum and Membership Growth

JACKSONVILLE, Fla., Dec. 30, 2014 /PRNewswire/ -- Latitude 360 (OTCQB: LATX), an award-winning, premier upscale casual dining restaurant that features a "360 EXPERIENCE" with a wide variety of state-of-the-art entertainment options for dining customers, today provided an intra-quarter update reflecting positive 4^th Quarter sales momentum going into year-end, including increased same-store year over year sales growth. Through December 28, 2014, the company, on an unaudited basis reported gross sales up approximately 15.5%, while group sales rose approximately 17.8%. These reports come on the heels of strong 3^rd Quarter sales growth.

In addition, total sales of the Company's 360 club membership program, also on an unaudited basis which membership program offers perks like points, 360 comedy club and movie tickets, a personal concierge, and a valet, have exceeded 2300 paying memberships sold; since its June 16, 2014 launch.

As more customers discover Latitude 360's "360 EXPERIENCE", membership sales have risen steadily. Along with its membership program, the Company's 360 Grille Menu focus, high standards of customer service and dedication to the customer experience have strengthened the 360 brand and its evolution into becoming a "Lifestyle Brand" for our growing, loyal customer base.

Coupled with customer satisfaction and sales figures increase, the company continues to make strides in physical growth as well. Latitude 360 projects strong store growth through 2017 with plans to grow the number of stores by 400% from 2014 levels. Additionally, three grand openings of new locations are on their way in several large markets across the United States, including New York, Minnesota, and Massachusetts with sizable capital investments from the Landlords. These dining and entertainment venues average around 50,000 square feet, with the 360 Grille restaurant surrounded by Latitude 360's many entertainment experiences like a comedy club, luxury bowling, cigar lounge, and sports theater.

ABOUT LATITUDE 360 (www.Latitude360.com)

An award-winning pioneer of combining premier upscale casual dining with state-of-the-art entertainment in its unique venues. The Company develops, constructs and operates cutting-edge Latitude 360 locations (from 35,000-85,000 sq. ft.) that appeal to a broad base of consumers and corporate clients. Its three current award-winning locations are based in Jacksonville, FL, Pittsburgh, PA and Indianapolis, IN, with three more locations opening in the next several months in large markets like New York, Minnesota and Massachusetts.

Latitude 360's unique "360 EXPERIENCE" fuses the magic of exceptional food and beverage with multiple entertainment options in upscale, contemporary-designed venues. At Latitude 360, visitors can enjoy the entertainment as their appetizer or dessert! The wide array of entertainment options include:

• The 360 Grille & Bar – A casual yet contemporary American restaurant.
• The Lanes – Luxury bowling lanes with leather couches and cutting-edge audio/visual systems on every lane, creating an upscale, lounge-like atmosphere.
• The Cinegrille – A dine-in movie theater featuring home theater-style seating.
• Game Room – The latest offering in hi-tech electronic video, redemption games and prizes.
• Latitude LIVE – A live performance theater with a full-stage, high-end theatrical sound and lighting systems and seating for 170-300+ guests. Features live comedy on Friday and Saturday.
• HD Sports Theater – A sports theater with multiple HD screens, similar to sports books in Vegas.
• The AXIS Bar & Stage – A unique bar, dance floor and stage with weekend performances by the hottest DJs and regional bands.
• Latitude LIT Cigar Lounge –comfortable leather furniture, cocktail-style seating and HD TVs playing your favorite sporting events. Amber cocktails and, of course, the finest cigars are also available.

For information about the Latitude 360 Blue Membership and Black Membership programs, visit the "360 CLUB" section of the Company's website at http://latitude360.com/rewards/

Forward-Looking Statements
This news announcement may contain certain "forward-looking statements." Such statements include those related to the company's expectations about future events or to the company's future financial performance, including anticipated growth opportunities and access to capital, and are not historical facts. Forward-looking statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Such statements are not guarantees of future performance, are based on certain assumptions, and are also subject to various known and unknown risks and uncertainties, many of which are beyond the control of the company. Actual results may differ materially from the expectations contained in forward-looking statements. The company does not undertake any obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

CONTACT:

Latitude 360, Inc.

Corporate Office
6022 San Jose Blvd., 2nd Floor
Jacksonville, FL 32217

P: (904) 730-0011
F: (904) 730-0010

Latitude 360- The Ultimate Restaurant 

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SOURCE Latitude 360, Inc.

Related Links

http://www.Latitude360.com