CALABASAS HILLS, Calif.--(BUSINESS WIRE)--The Cheesecake Factory Incorporated (NASDAQ: CAKE - News) today reported financial results for the second quarter of fiscal 2010, which ended on June 29, 2010. Total revenues were $418.9 million in the second quarter of fiscal 2010 as compared to $407.9 million in the prior year second quarter. Net income and diluted net income per share were $19.2 million and $0.32, respectively.
In the second quarter of fiscal 2010, the Company made a $7.4 million, pre-tax payment to unwind the remaining $100 million interest rate collar on its revolving credit facility balance. This reduced reported diluted net income per share by approximately $0.07. Excluding this item, net income was $23.7 million and diluted net income per share was $0.39.
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Thursday, July 22, 2010
Chipotle Mexican Grill, Inc. Announces Second Quarter 2010 Results
DENVER--(BUSINESS WIRE)--Chipotle Mexican Grill, Inc. (NYSE: CMG - News) today reported financial results for its second quarter ended June 30, 2010.
Highlights for the second quarter of 2010 as compared to the second quarter of 2009 include:
Revenue increased 20.1% to $466.8 million
Comparable restaurant sales increased 8.7%
Restaurant level operating margin was 26.9%, an increase of 90 basis points
Net income was $46.5 million, an increase of 31.3%
Diluted earnings per share was $1.46, an increase of 32.7%
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Highlights for the second quarter of 2010 as compared to the second quarter of 2009 include:
Revenue increased 20.1% to $466.8 million
Comparable restaurant sales increased 8.7%
Restaurant level operating margin was 26.9%, an increase of 90 basis points
Net income was $46.5 million, an increase of 31.3%
Diluted earnings per share was $1.46, an increase of 32.7%
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BJ's Restaurants, Inc. Reports Financial Results for the Second Quarter of Fiscal 2010
HUNTINGTON BEACH, Calif., July 22, 2010 (GLOBE NEWSWIRE) -- BJ's Restaurants, Inc. (Nasdaq:BJRI - News) today reported financial results for the second quarter of fiscal 2010 that ended on Tuesday, June 29, 2010.
Highlights for the second quarter compared to the same quarter last year were as follows:
Total revenues increased 21% to $130.5 million
Comparable restaurant sales increased 5.3%
Net income increased 44% to $6.3 million
Diluted net income per share increased 44% to $0.23
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Highlights for the second quarter compared to the same quarter last year were as follows:
Total revenues increased 21% to $130.5 million
Comparable restaurant sales increased 5.3%
Net income increased 44% to $6.3 million
Diluted net income per share increased 44% to $0.23
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Ruby Tuesday, Inc. Reports Fourth Quarter and Annual Fiscal 2010 Results
MARYVILLE, Tenn.--(BUSINESS WIRE)--Ruby Tuesday, Inc. today reported diluted earnings per share of $0.33 on net income of $21.0 million for the Company’s fourth quarter of fiscal 2010, which ended on June 1, 2010. This compares to diluted earnings per share of $0.28 on net income of $14.4 million for the fourth quarter of the prior fiscal year. The fourth quarter fiscal 2010 results represent a 45% improvement in net income over the prior year quarter.
Same-restaurant sales for the fourth quarter increased 0.3% at Company-owned Ruby Tuesday restaurants and decreased by 0.5% for domestic franchised restaurants. The gap between franchise and Company-owned same-restaurant sales narrowed as the franchisees participated in virtually all promotional incentive programs during the quarter
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Same-restaurant sales for the fourth quarter increased 0.3% at Company-owned Ruby Tuesday restaurants and decreased by 0.5% for domestic franchised restaurants. The gap between franchise and Company-owned same-restaurant sales narrowed as the franchisees participated in virtually all promotional incentive programs during the quarter
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PR gov't to help finance $1.2B Ritz-Carlton resort
Puerto Rico's government announced Wednesday it will help finance a $1.2 billion resort on the U.S. island's north coast, the biggest hotel project in two years for a region hit hard by the world economic crisis.
The Ritz-Carlton Reserve Dorado Beach Resort & Spa is to be the island's first six-star resort.
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The Ritz-Carlton Reserve Dorado Beach Resort & Spa is to be the island's first six-star resort.
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Wyndham settles tax liabilities with IRS for $145M
PARSIPPANY, N.J.—Lodging company Wyndham Worldwide Corp. said Wednesday it expects to pay $145 million in the third quarter to the Internal Revenue Service to resolve certain tax liabilities.
The settlement is the result of an audit of Wyndham's former parent company, Cendant Corp., for federal income tax returns for 2003 through 2006. Wyndham was included on Cendant's tax returns before it was spun off in August 2006.
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The settlement is the result of an audit of Wyndham's former parent company, Cendant Corp., for federal income tax returns for 2003 through 2006. Wyndham was included on Cendant's tax returns before it was spun off in August 2006.
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Vendor That Inspired Seinfeld's Soup Nazi Reopens Restaurant in NYC
Just don’t make him angry.
New York restaurateur and soup-slinger Al Yeganeh, best known for inspiring the Soup Nazi character on Seinfeld (“No soup for you!”), reopened his New York location, MSNBC reports.
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New York restaurateur and soup-slinger Al Yeganeh, best known for inspiring the Soup Nazi character on Seinfeld (“No soup for you!”), reopened his New York location, MSNBC reports.
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Challenge ahead for Biltmore Hotel: profitability vs. upkeep
Over the past 17 years, the Biltmore Hotel has spent more than $9 million to repair the roof and hotel balconies, nearly $8 million to renovate the guest rooms and more than $3 million to expand its fitness center and build a luxury spa on the hotel's seventh floor.
It's all part of running a national historic landmark and luxury hotel, says Seaway Corp., the company that leases the property and golf course from the owner, the city of Coral Gables.
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It's all part of running a national historic landmark and luxury hotel, says Seaway Corp., the company that leases the property and golf course from the owner, the city of Coral Gables.
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Gucci Stops Founder’s Descendant Using Name for Dubai Hotel
July 22 (Bloomberg) -- Gucci, the luxury-goods company owned by PPR SA, said it won an injunction preventing unauthorized use of the Elisabetta Gucci name, thwarting plans by the great-granddaughter of the founder to open a chain of hotels under her moniker.
The use of Elisabetta Gucci’s name “has caused customer confusion and has been harmful to Gucci’s business,” the company said in an e-mail today that was confirmed by a spokeswoman. The ruling by a Florence court “will hopefully act as a significant deterrent for those who intend to unlawfully license or commercially exploit the Gucci trademarks.”
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The use of Elisabetta Gucci’s name “has caused customer confusion and has been harmful to Gucci’s business,” the company said in an e-mail today that was confirmed by a spokeswoman. The ruling by a Florence court “will hopefully act as a significant deterrent for those who intend to unlawfully license or commercially exploit the Gucci trademarks.”
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Union to protest today at Hyatt hotels
(Crain’s) — Aiming to ratchet up the pressure on Hyatt Hotels Corp. and gain an edge in labor contract talks, union activists plan protests Thursday at Hyatt hotels in 15 North American cities, including Chicago.
About 200 demonstrators plan to provoke police with a civil disobedience action Thursday afternoon in front of the Hyatt Regency Chicago, according to Unite Here Local 1, which represents about 6,500 downtown hotel employees who have been working without a labor contract since last August.
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About 200 demonstrators plan to provoke police with a civil disobedience action Thursday afternoon in front of the Hyatt Regency Chicago, according to Unite Here Local 1, which represents about 6,500 downtown hotel employees who have been working without a labor contract since last August.
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Hyatt looking to sell Long Beach's Hyatt Regency
LONG BEACH - In an effort to expand its brand, Hyatt Hotels Corp. is looking to sell the Hyatt Regency in Long Beach and reportedly nine other properties.
Hyatt Hotels, which has 430 Hyatts internationally that the company either owns, manages or franchises, would continue to operate the 528-room hotel in Long Beach with the same staff members.
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Hyatt Hotels, which has 430 Hyatts internationally that the company either owns, manages or franchises, would continue to operate the 528-room hotel in Long Beach with the same staff members.
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The Marcus Corporation Reports Fourth Quarter and Fiscal 2010 Results
MILWAUKEE, Jul 22, 2010 (BUSINESS WIRE) -- The Marcus Corporation /quotes/comstock/13*!mcs (MCS 11.16, +0.74, +7.10%) today reported results for the fourth quarter and fiscal year ended May 27, 2010. Marcus Hotels and Resorts had a strong fourth quarter and Marcus Theatres(R) achieved record results for the second consecutive year.
Fourth Quarter Fiscal 2010 Highlights
-- Total revenues for the fourth quarter of fiscal 2010 were $89,106,000, a 5.9% increase from revenues of $84,171,000 for the fourth quarter of fiscal 2009.
-- Operating income was $7,217,000 for the fourth quarter of fiscal 2010, a 46.3% increase from operating income of $4,932,000 for the same period in the prior year.
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Fourth Quarter Fiscal 2010 Highlights
-- Total revenues for the fourth quarter of fiscal 2010 were $89,106,000, a 5.9% increase from revenues of $84,171,000 for the fourth quarter of fiscal 2009.
-- Operating income was $7,217,000 for the fourth quarter of fiscal 2010, a 46.3% increase from operating income of $4,932,000 for the same period in the prior year.
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Host Hotels & Resorts, Inc. Acquires Le Meridien Piccadilly in London for 64 Million pounds Sterling
BETHESDA, Md., July 22, 2010 /PRNewswire via COMTEX/ -- Host Hotels & Resorts, Inc. /quotes/comstock/13*!hst/quotes/nls/hst (HST 13.98, +0.40, +2.95%) today announced that it acquired the 266-room Le Meridien Piccadilly in London, England at a purchase price of 64 million pounds, including the assumption of a 33 million pound mortgage. The hotel is located in the prestigious Mayfair district of London, a central location for both business and leisure travelers and offers 12,000 square feet of meeting space as well as a large health club featuring one of the largest indoor pools in the London hotel market.
Starwood Profit Beats Estimates; Hotel Company Raises 2010 Revpar Forecast
Starwood Hotels & Resorts Worldwide Inc., owner of luxury brands including the St. Regis and W hotels, reported earnings that beat analysts’ estimates and raised its forecast for revenue per available room.
Excluding one-time items, income from continuing operations rose to $67 million, or 35 cents a share, from $40 million, or 22 cents, a year earlier, the White Plains, New York-based company said in a statement today. Analysts predicted earnings on that basis of 26 cents a share, according to the average of 18 estimates compiled by Bloomberg.
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Excluding one-time items, income from continuing operations rose to $67 million, or 35 cents a share, from $40 million, or 22 cents, a year earlier, the White Plains, New York-based company said in a statement today. Analysts predicted earnings on that basis of 26 cents a share, according to the average of 18 estimates compiled by Bloomberg.
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