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Champps Entertainment, Inc., incorporated in 1997, offers an energetic, upscale casual dining experience with uncompromising service and an extensive menu of freshly prepared items. As of September 23, 2002, the Company owned and operated 36 restaurants in 15 states and had 12 restaurants operating under franchise or license agreements in five states. Its menu is comprised of approximately 85 items, primarily made from scratch on the premises. Champps typically includes a selection of 15 appetizers, eight main plate salads, 18 high-end sandwiches, eight specialty burgers and 25 entree selections, along with an additional five to eight regularly changing specials. Its menu selection includes not only traditional American cuisine, such as Champp's Meatloaf and Grilled Salmon, but also a variety of ethnic cuisine, such as its Mongolian Egg Rolls and Chicken Bruschetta Salad.

The Company opened six restaurants in the fiscal year ended June 30, 2002 (fiscal 2002). Champps expects to open eight to 10 restaurants in 2003 and 10 to 12 restaurants in 2004 by expanding its presence in existing markets and selectively entering new markets. The Company has increased its number of Company-owned restaurants from 18 in the fiscal year ended June 30, 1999 (fiscal 1999) to 34 restaurants in fiscal 2002, representing a compounded annual growth rate of 23.6%.

For fiscal 2002, Champps' average guest check in its dining room was approximately $13.40, excluding alcoholic beverages. Its sophisticated, full-service bar offers approximately 23 selections of wine, most of which are available by the glass, 20 draft and bottled domestic and imported beers, as well as premium liquor and specialty drinks. Sales of alcoholic beverages represented approximately 32.2% of total food and beverage sales during fiscal 2002.

As of September 23, 2002, the Company had 12 franchised restaurants, seven of which are located in the Minneapolis, Minnesota, area, two in Milwaukee, Wisconsin, and one in each of Charlotte, North Carolina, Sioux City, South Dakota and Omaha, Nebraska. A franchise located in Duluth, Minnesota was closed in July 2002.

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The data included within the Financial section is solely for information  and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly urged to obtain professional advice with qualified individuals or corporations for any investments of funds.