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Restaurant Industry News
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Sunday June 11th, 2006 |
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CKE Restaurants, Inc. Reports Positive Period Four and First Quarter Blended Same-Store Sales
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Both Brands Record Highest Period Four Average Unit Volumes in Recent History |
CKE Restaurants, Inc. (NYSE:CKR) announced today period four same-store sales for the four weeks ended May 22, 2006, for Carl's Jr.(R) and Hardee's(R).
Brand Period 4 First Quarter
FY 2007 FY 2006 FY 2007 FY 2006
Carl's Jr. +6.8% +1.5% +5.6% +2.4%
Hardee's +7.9% -1.0% +5.6% -0.1%
Blended +7.3% +0.2% +5.6% +1.1%
Commenting on the Company's performance, Andrew F. Puzder, president and chief executive officer, said, "We are pleased to report our sixth consecutive period of positive same-store sales for both Carl's Jr. and Hardee's. We believe these results further demonstrate our ability to successfully introduce new premium-quality menu items despite challenging macroeconomic conditions, and further support our decision to proceed with our capital plan as outlined in our recent year-end earnings call."
"During period four, Carl's Jr. promoted its 'bigger, better' Bacon Swiss Crispy Chicken Sandwich(TM), supported with a television ad starring Dr. Robert Rey from E! Entertainment's Dr. 90210 program," said Puzder. "On a two-year cumulative basis, same-store sales at Carl's Jr. have increased more than eight percent. Average unit volumes for period four were higher than any comparable period four ever."
"Carl's Jr. same-store sales increased 5.6 percent for the first quarter on top of a 2.4 percent increase in the prior-year's quarter," Puzder continued. "We attribute this increase to the popularity of our new menu items, including the unique Jalapeno Burger(TM) promoted earlier in the quarter, as well as the overall strength of the Carl's Jr. brand." Revenue for the first quarter from company-operated Carl's Jr. restaurants (exclusive of franchise-related revenue and royalties) was approximately $187.1 million.
"Hardee's results for the period reflect the success of its popular new Philly Cheesesteak Thickburger(TM), a 1/3-pound Thickburger(R) topped with sliced steak, cheese, green peppers and onions. This new Thickburger, featuring 'meat as a condiment' as the late-night comedians refer to it, has generated national media attention as well as raves from our guests," Puzder continued. "On a two-year cumulative basis, same-store sales at Hardee's have increased almost seven percent. In addition, Hardee's period four average unit volume was higher than any comparable period four since fiscal 1997."
"Hardee's recorded a same-store sales increase of 5.6 percent for the quarter, lapping essentially flat results in the prior year. We believe these gains were driven by our efforts to broaden the brand's appeal through the selective expansion of our menu, including the promotion of premium chicken sandwiches and an entrée salad earlier in the quarter." Revenue for the first quarter from company-operated Hardee's restaurants (exclusive of franchise- related revenue and royalties) was approximately $189.9 million.
For the first quarter, consolidated revenue from company-operated restaurants (exclusive of all franchise-related revenue and royalties) was approximately as follows:
Carl's Jr. $ 187.1 million
Hardee's $ 189.9 million
La Salsa Fresh Mexican Grill(R) $ 13.9 million
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Total $ 390.9 million
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| Last: |
16.93 |
| Time: |
6/9/2006 4:02pm |
| Change: |
+0.09 |
| Opened: |
16.90 |
| Day: |
17.08 - 16.78 |
| Volume: |
725800 |
| More CKE Restaurants News |
| CKE Restaurants, Inc. Reports Positive Period Three Blended Same-Store Sales |
| CKE Restaurants, Inc. Reports Fiscal 2006 Income Before Taxes of $57.3 Million Versus $17.1 Million in the Prior Year |
| CKE Restaurants, Inc. Reports Positive Period Two Blended Same-Store Sales |
| CKE Restaurants, Inc. Reports Positive Period One Blended Same-Store Sales |
| Luby's Announces Third Quarter Fiscal 2006 Results |
| Brinker International Confirms 2006 Guidance and Provides 2007 Outlook |
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