Business
The ONE Group Hospitality Provides Business Update
Company Suspends Guidance for 2020 Announces Conference Call and Webcast for Fourth Quarter and Year End 2019 Results on March 26, 2020 DENVER--(BUSINESS
About this update from The One Group Hospitality, Inc.
[{"type":"text","content":"\nCompany Suspends Guidance for 2020\n\n\nAnnounces Conference Call and Webcast for Fourth Quarter and Year End 2019 Results on March 26, 2020\n\n DENVER--(BUSINESS WIRE)--\nThe ONE Group Hospitality, Inc. (“The ONE Group” or the “Company”) (Nasdaq: STKS), today announced that it is providing a business update related to developments as a result of coronavirus disease (COVID-19).\n\n\nAll domestic locations are currently opened and operating for either in-person dining and/or take-out and delivery options, in compliance with directions from local authorities. The Company is addressing each restaurant on a case-by-case basis and has put in place enhanced sanitizing measures across all restaurants. Select restaurants will be impacted by temporary closures, such as the STK in Las Vegas starting March 18th, or reduced hours over the coming days and weeks. Several of our international locations, including our restaurants in Milan, Italy and Doha, Qatar, are temporarily closed.\n\n\n“The health, safety and well-being of our employees and customers remains our top priority as the impact of COVID-19 continues to rapidly evolve. We are closely monitoring the situation and following all guidance from the CDC and federal and local authorities, and we continue to take measures to ensure our team and customers are safe. I genuinely thank each and every one of our guests for standing by us during this time,” said Emanuel “Manny” Hilario, President and CEO of The ONE Group.\n\n\n2020 Targets Suspended\n\n\nDue to the unprecedented market conditions domestically and internationally, and the effect COVID-19 will have on our operations and financial performance, the extent of which is not currently known, the Company is suspending guidance for 2020. The Company will provide a business update on its fourth quarter earnings call.\n\n\nConference Call Details for Fourth Quarter and Year End 2019 Results \n\n\nThe ONE Group will host a conference call and webcast to discuss fourth quarter and year end 2019 results on Thursday, March 26, 2020 at 4:30 PM Eastern Time. A press release containing these results will be issued after market close on Thursday, March 26, 2020.\n\n\nThe conference call can be accessed live over the phone by dialing 1-201-493-6780. A replay will be available after the call and can be accessed by dialing 1-412-317-6671; the pass...