Arcade Fire is the baddest band in the land, Justin Bieber has entranced America's teen girls and Tim Hortons Inc. (THI-T38.33-0.13-0.34%) is the second-fastest-growing restaurant chain in America.
Tim Hortons' David Clanachan can take credit for only one portion of this Canadian incursion, but his company's growth in the U.S. is almost Bieberian in its intensity and efficiency. Clanachan was named Tim Hortons' chief operations officer, U.S. and international, in May 2008. By last year, food-industry analyst firm Technomic named Tim Hortons and its now 600 U.S. doughnuts-and-more locations the second-fastest-growing chain in the U.S., behind only Washington, D.C.-based East Coast burger empire Five Guys.
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Sunday, November 7, 2010
Papa John's Q3 profit misses Street, cuts FY EPS view
Nov 3 (Reuters) - Papa John's International's (PZZA.O) quarterly profit missed market expectations as higher commodity costs and heavy discounting dented its operating margins and it cut the upper end of its 2010 adjusted earnings view.
The company cut the upper end of its 2010 earnings view by 2 cents and now targets earnings of $1.74-$1.80 a share for the year.Papa John's added that current pricing and promotional environment in the pizza category, coupled with increasing commodity costs trends, would result in continued restaurant margin pressures in the fourth quarter.
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China Loves KFC, Pizza Hut And Investors Should Too
The company, which also operates Pizza Hut and Taco Bell, reported solid third quarter earnings on October 5. Management also increased earnings guidance for the remainder of the year, prompting analysts to raise their estimates.
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Einstein Noah Restaurant Group Reports Third Quarter 2010 Financial Results
Total revenues increased 1.3% to $101.4 million. System-wide comparable restaurant sales and comparable transactions increased 0.7%. Total gross margin improved 120 basis points to 19.8% from 18.6%. Adjusted EBITDA improved to $10.9 million from $10.5 million. (*) Adjusted net income improved to $3.4 million, or $0.20 in adjusted diluted EPS, from $2.5 million, or $0.15 in adjusted diluted EPS. (*) Free cash flow for the third quarter increased by $3 million, or 45%, to $9.6 million. (*)
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O'Charley's widens loss in 3Q
Restaurant chain O'Charley's Inc. posted a wider third-quarter loss on Friday on charges and lower margins.
The company reported a loss of $7.4 million, or 35 cents per share, for the quarter compared with a loss of $2.1 million, or 10 cents per share, in the same quarter of the prior year. The results from the latest quarter included interest expense of $2.5 million, impairment and disposal charges of $2.5 million and an income tax benefit of $600,000.
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The company reported a loss of $7.4 million, or 35 cents per share, for the quarter compared with a loss of $2.1 million, or 10 cents per share, in the same quarter of the prior year. The results from the latest quarter included interest expense of $2.5 million, impairment and disposal charges of $2.5 million and an income tax benefit of $600,000.
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We’re Not That Bankrupt MGM! Says MGM Resorts.
Metro-Goldwyn-Mayer, the Hollywood movie studio known as MGM, filed for bankruptcy protection this week. But NOT the MGM that runs hotels and casinos like the Bellagio, MGM Grand and Mandalay Bay in Las Vegas. That company, MGM Resorts International, goes by the ticker symbol “MGM.” Confused?
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So MGM Resorts – NOT THE BANKRUPT ONE – felt compelled to issue a press release to clarify.
“MGM Studios is a completely separate entity with no common ownership. MGM Studios, a privately held, independent company, filed for bankruptcy on Nov. 3, 2010. The filing has no impact whatsoever on MGM Resorts International,” the company that isn’t in Chapter 11 said.Read More:
Lhasa gets first luxury hotel as Chinese tourists flock to Tibet
WEALTHY TOURISTS will soon be able to gaze out at the Roof of the World as a waiter expertly pours a glass of imported wine in the intimate, club-style setting of the Decanter bar at Tibet’s first luxury hotel – the St Regis Lhasa Resort.
For hundreds of years an isolated, mystical and poor enclave ruled by red-robed Tibetan Buddhist monks, Lhasa has changed profoundly since Chinese troops entered in 1950, and started to impose the dominant Han Chinese culture on the territory.
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For hundreds of years an isolated, mystical and poor enclave ruled by red-robed Tibetan Buddhist monks, Lhasa has changed profoundly since Chinese troops entered in 1950, and started to impose the dominant Han Chinese culture on the territory.
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Overseas buyer sought for Four Seasons
THE CBRE property consultancy handling the sale of the Four Seasons Hotel in Ballsbridge, Dublin 4, is targeting hotel investment funds in Europe and the US as well as overseas owners of luxury hotels.
It is thought highly unlikely that an Irish buyer can be found because of the economic downturn and the banking crisis.
Although no guide price is being quoted at this stage for the five-star, 197-bedroom hotel, market sources suggest that the owners would be happy to sell the property for around €30 million.
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Still Without Financing, New York Four Seasons gets New Timeline.
New York real estate developer Larry Silverstein talked about a stalled construction project on Thursday. Nope not the World Trade Center.
The WTC site has seen quite a bit of action in recent months with construction proceeding at a good clip. Meanwhile, Mr. Siliverstein’s Four Seasons Hotel at 99 Church St. downtown has seen no activity, as the developer is still seeking construction financing.
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The WTC site has seen quite a bit of action in recent months with construction proceeding at a good clip. Meanwhile, Mr. Siliverstein’s Four Seasons Hotel at 99 Church St. downtown has seen no activity, as the developer is still seeking construction financing.
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