Wetzel’s Pretzels said it has achieved historic sales growth through Q2. The company drove double-digit sales growth even as its laps its historic 2021 performance, where stores averaged an annual gross revenue of $850,000, according to a press release.
“There’s an electric energy in the air surrounding the first half of 2022. We’ve leveraged increased consumer snacking behavior to serve guests hot pretzels and refreshing drinks in even more convenient, high-traffic venues, producing a stronger business model as a result,” Jennifer Schuler, chief executive officer for Wetzel’s Pretzels, said in the release. “At the same time, we’ve expanded our growth strategy, using our brand’s flexible formats to unlock new real estate opportunities, like food trucks and convenience stores, creating a faster growing, more diversified portfolio. These efforts have contributed to a more robust pipeline and catapulted franchise interest to an all-time high.”
The brand has already opened 15 stores this year and is expecting to add 40 total new locations by the end of 2022.
At the forefront of Wetzel’s momentum is its generation of new revenue streams through strategic partnerships and flexible format investment opportunities. The brand’s partnerships with major big-box retailers and convenience stores have proven to be a success — with Wetzel’s generating major buzz at the recent Philips 66 Convention and opening its first location within a Macy’s store this past January and a second location to open later this year. Behind the power of its partnerships is Wetzel’s ability to develop stores uniquely catered to the footprint, traffic and needs of each individual location, from kiosks to full inline stores. Additionally, its food truck concept is going full throttle, with 40% of its original territories already claimed and many units expected to roll out soon.
“Reflecting on our successes as we head into the second half of the year, our bolstering partnerships are a nod to Wetzel’s reputation and the love people across the nation have for the brand,” Jon Fischer, chief development officer for Wetzel’s, said in the release. “Heading into summer, we are focused on nurturing the significant interest we’ve generated around these new opportunities and keeping our eyes on the future of snacking.”
Wetzel’s Pretzels operates more than 360 bakeries.