Restaurant Chains Report Operating Results
-- Foodservice Equipment & Supplies, 11/4/2009 7:00:00 AM
Buffalo Wild Wings, Burger King Holdings, Carrols Restaurant Group, Denny’s, Famous Dave’s, Kona Grill, Landry's, O’Charley’s, Papa John's and Ruth’s Hospitality were among the chains to report operating results.
For its 2009 fiscal third quarter, Buffalo Wild Wings, Inc. (NASDAQ: BWLD), announced total revenue increased 25.1 percent to $132.7 million. Overall, sales at company-owned restaurants grew 26.0 percent to $120.3 million. Same-store sales increased 0.8 percent at company-owned restaurants and 1.9 percent at franchised restaurants
For the first quarter of its 2010 fiscal year, Burger King Holdings reported worldwide comparable sales declined by 2.9 percent compared to a 3.6 percent gain in the same period last year. Systemwide, Burger King operates approximately 12,000 restaurants in all 50 states and in 73 countries and U.S. territories worldwide. Approximately 90 percent of Burger King restaurants are owned and operated by independent franchisees,
In reporting its operating results for the third quarter, Carrols Restaurant Group, Inc. (Nasdaq: TAST), the parent company of Carrols Corporation, announced comparable store sales decreased 0.1 percent at Pollo Tropical, 4.3 percent at Taco Cabana, and 6.1% at Burger King.
In releasing its third quarter operating results, Denny’s Corporation (NASDAQ:DENN) reported that same-store sales decreased 6.6 percent at company units and 7.3 percent at franchised units.
Famous Dave's of America, Inc. (NASDAQ: DAVE) reported revenue of $33.3 million and net income of $1.2 million for itsfiscal third quarter. Total revenue for the quarter decreased 5.1 percent from the comparable period in 2008. Same store sales for company-owned restaurants open for 24 months or more declined 6.8 percent during the quarter. Same store sales for company-owned restaurants declined 7.3 percent on a year-to-date basis, while same store sales for franchise-operated restaurants declined 8.8 percent.
Kona Grill, Inc. (Nasdaq: KONA) reported that its restaurant sales increased 3.7 percent in the third quarter. The company also reported that same-store sales decreased 9.9 percent. The company also named a new CEO and president.
Landry's Restaurants, Inc. (NYSE: LNY) has entered into a definitive merger agreement with a company wholly-owned by Tilman J. Fertitta, chairman, chief executive officer and president of Landry's. Pursuant to the agreement, the Fertitta company has agreed to acquire all of Landry's outstanding common stock not already owned by Fertitta for $14.75 per share in cash.
For its 2009 fiscal third quarter, O’Charley’s Inc. reported revenue decreased $15.5 million or 7.4 percent to $194.1 million, from $209.6 million in the same period one year ago. Same-store sales for the third quarter of 2009 declined 7.6 percent at O’Charley’s company-operated restaurants, 7.1 percent at Ninety Nine Restaurants, and 17.1 percent at Stoney River Legendary Steaks.
Papa John’s International, Inc. (NASDAQ: PZZA) announced revenues of $263.9 million for the third quarter of 2009, representing a decrease of 5.7 percent from revenues of $280.0 million for the comparable period in 2008. The pizza chain reported that domestic system-wide comparable sales were flat for the quarter.
For its fiscal third quarter, Ruth’s Hospitality Group reported that total revenue decreased 21.4 percent to $77.8 million compared to $98.9 million in the same reporting period last year. Sales at company-owned comparable restaurants decreased 24 percent for Ruth’s Chris Steak House and 12.3 percent for Mitchell’s Fish Market.
In announcing its third quarter operating results, Texas Roadhouse, Inc. (NasdaqGS: TXRH), reported that comparable restaurant sales decreased 4.6 percent at company-owned restaurants and decreased 3.6 percent at franchise restaurants.
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