CKE Restaurants(R), Inc. Reports Period Ten and Third Fiscal Quarter Same-Store Sales and Gives Guidance

“Unemployment rates have continued to worsen while our competitors have escalated the deep discount burger wars. Both of these events are having an adverse impact on same-store sales results for everyone including us,” said Andrew F. Puzder, Chief Executive Officer. “We remain focused on same-store sales while maintaining our brand positioning and improving our restaurant operating margins. In this respect, and as discussed more fully below, we are forecasting that our company operated restaurant level margins will improve from 17.9% in the third quarter of fiscal 2009 to between 18.0% and 18.3% for the third quarter of fiscal 2010 despite an increase of approximately 80 basis points in depreciation expense, primarily related to our ongoing remodel program.”

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Creditors press for independent examiner in Station bankruptcy

Ongoing disputes between Station Casinos Inc. and two groups of creditors continued with more bankruptcy court legal maneuvering this week.

The company and one of the lenders' groups filed legal briefs in advance of a hearing on Nov. 20 on various issues.

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