Almost certainly they are all leased if they didnt bring it up.
And i highly doubt they bought either chain in order to sell the company.
They want to run these companies, not sell them.
That said, I never listen to the calls. Wish they would print transcripts like many companies do. I almost always read them when they are easily available but rarely listen to calls for small positions.
Frankly, I was considering selling so the recent insider buy was a positive and will keep me in the position for a few more years anyway.
They've GOT to be able to increase their return on equity and I think they will.
Not sure the combo unit is going to provide the needed benefits if they dont get economies of kitchen staff & space.
I bought LUB years ago in the low $3s, after following the insiders.
Hasnt been a great return for nearly 4 years of holding but certainly acceptable.
I just hope it can double again over the next 3-4 years at a minimum.
Target price: $13.75 by March '17.
Hopefully, more & sooner but I dont think they are in this for the short term.