DENVER, Feb 11, 2010 (BUSINESS WIRE) -- Chipotle Mexican Grill, Inc. (NYSE: CMG) today reported financial results for its fourth quarter and full year ended December 31, 2009.
Highlights for the fourth quarter of 2009 as compared to the fourth quarter of 2008 include:
Revenue increased 12.2% to $387.5 million
Comparable restaurant sales increased 2.0%
Restaurant level operating margin was 24.5%, an increase of 340 basis points
Net income was $31.6 million, an increase of 86%
Diluted earnings per share was $0.99, an increase of 90%
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Thursday, February 11, 2010
Buffalo Wild Wings, Inc. Announces Fourth Quarter 2009 Results
MINNEAPOLIS, Feb 11, 2010 (BUSINESS WIRE) -- Buffalo Wild Wings, Inc. (NASDAQ: BWLD), announced today financial results for the fourth quarter ended December 27, 2009. Highlights for the fourth quarter versus the same period a year ago were:
•Total revenue increased 19.6% to $145.0 million
•Company-owned restaurant sales grew 19.5% to $131.2 million
•Same-store sales increased 2.6% at company-owned restaurants and 2.0% at franchised restaurants
•Net earnings increased 7.9% to $8.3 million from $7.7 million, and earnings per diluted share increased 7.0% to $0.46 from $0.43
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•Total revenue increased 19.6% to $145.0 million
•Company-owned restaurant sales grew 19.5% to $131.2 million
•Same-store sales increased 2.6% at company-owned restaurants and 2.0% at franchised restaurants
•Net earnings increased 7.9% to $8.3 million from $7.7 million, and earnings per diluted share increased 7.0% to $0.46 from $0.43
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The Cheesecake Factory Reports Results for Fourth Quarter of Fiscal 2009
Total revenues were $400.6 million in the fourth quarter of fiscal 2009 as compared to $400.4 million in the prior year fourth quarter. Net income and diluted net income per share were impacted by certain charges recorded in the fourth quarter of fiscal 2009, as detailed below, resulting in a net loss and diluted net loss per share of $13,000 and $0.00, respectively.
In accordance with accounting rules, the Company recorded pre-tax, non-cash charges of $26.5 million related to the impairment of four Grand Lux Cafe restaurants in the fourth quarter of fiscal 2009. All of the Grand Lux Cafe locations remain open. In addition, the Company made a $2.2 million, pre-tax payment to unwind an interest rate collar in conjunction with a $50 million repayment on its revolving credit facility. Collectively, these items reduced reported diluted net income per share by approximately $0.28. Excluding these items, net income was $17.2 million and diluted net income per share was $0.28.
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In accordance with accounting rules, the Company recorded pre-tax, non-cash charges of $26.5 million related to the impairment of four Grand Lux Cafe restaurants in the fourth quarter of fiscal 2009. All of the Grand Lux Cafe locations remain open. In addition, the Company made a $2.2 million, pre-tax payment to unwind an interest rate collar in conjunction with a $50 million repayment on its revolving credit facility. Collectively, these items reduced reported diluted net income per share by approximately $0.28. Excluding these items, net income was $17.2 million and diluted net income per share was $0.28.
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Former Dunkin' exec files $5M lawsuit claiming ruined reputation
A former top executive at Dunkin’ Brands who helped assemble the chain’s culinary dream team has filed a $5 million lawsuit that accuses the company of violating a separation agreement by providing negative references, ruining his reputation with defamatory statements, and causing the loss of multiple job opportunities.
Michael O’Donovan, a European master chef who served the Queen of England, worked as vice president of global research and development for Dunkin’ from May 2004 through July 2007, overseeing the hiring of Boston chef Stan Frankenthaler, a makeover of the menu, and the long journey to eliminate transfats from doughnuts.
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Michael O’Donovan, a European master chef who served the Queen of England, worked as vice president of global research and development for Dunkin’ from May 2004 through July 2007, overseeing the hiring of Boston chef Stan Frankenthaler, a makeover of the menu, and the long journey to eliminate transfats from doughnuts.
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Hersha Hospitality buys 3 Times Square hotels
Hersha Hospitality Trust said it closed on the purchase of three hotels in New York City, paying $165 million for the properties.
Hersha (NYSE:HT), which has offices in Philadelphia, acquired the Hampton Inn, with 184 rooms; Candlewood Suites, with 188 rooms; and Holiday Inn Express Times Square, with 210 rooms. All three hotels are in the Times Square area. All are managed by Hersha Hospitality Management LP.
For the sellers, the purchase price included a limited-partnership interest in Hersha
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Hersha (NYSE:HT), which has offices in Philadelphia, acquired the Hampton Inn, with 184 rooms; Candlewood Suites, with 188 rooms; and Holiday Inn Express Times Square, with 210 rooms. All three hotels are in the Times Square area. All are managed by Hersha Hospitality Management LP.
For the sellers, the purchase price included a limited-partnership interest in Hersha
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Marriott says tough to predict recovery
NEW YORK, Feb 11 (Reuters) - Marriott International Inc (MAR.N) posted a higher-than-expected quarterly profit but said it would be difficult to predict the pace of recovery for the hotel industry, which has been hurt by tepid business travel.
Business travel is an important step to recovery for Marriott, which relies heavily on corporate demand to help set room rates. Although business travel has improved in recent months, it still remains below levels of 2008 and earlier
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Business travel is an important step to recovery for Marriott, which relies heavily on corporate demand to help set room rates. Although business travel has improved in recent months, it still remains below levels of 2008 and earlier
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Expedia Q4 earnings jump, will begin paying dividends
Expedia Inc. reported fourth-quarter net income rose to $102.2 million, or 35 cents per diluted share. The Bellevue online travel company also said it will begin paying a quarterly dividend to shareholders.
The quarterly results compare with the horrific results from a year earlier, when Expedia (NASDAQ: EXPE) took an accounting charge and reported a loss of $2.8 billion, or a loss of $9.62 per share.
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The quarterly results compare with the horrific results from a year earlier, when Expedia (NASDAQ: EXPE) took an accounting charge and reported a loss of $2.8 billion, or a loss of $9.62 per share.
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New York Four Seasons Hotel said to be hitting the block
Even multi-billionaires like Ty Warner are not immune to the latest economic conditions. Mr. Warner, who made his fortune manufacturing Beanie Babies, owns the Four Seasons Hotel New York—but maybe not for much longer.
He is in negotiations to sell the posh property to a group of investors, according to several news reports.
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He is in negotiations to sell the posh property to a group of investors, according to several news reports.
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Marriott International Reports Fourth Quarter Results
Fourth quarter 2009 adjusted income from continuing operations attributable to Marriott totaled $118 million, a 2 percent decline over the year-ago quarter, and adjusted diluted earnings per share ("EPS") from continuing operations attributable to Marriott shareholders totaled $0.32, down 3 percent. On October 8, 2009, the company forecasted fourth quarter adjusted diluted EPS of $0.20 to $0.23.
Reported income from continuing operations attributable to Marriott was $106 million in the fourth quarter of 2009 compared to a reported loss from continuing operations attributable to Marriott of $10 million in the year-ago quarter. Reported diluted EPS from continuing operations attributable to Marriott shareholders was $0.28 in the fourth quarter of 2009 compared to reported diluted losses per share from continuing operations attributable to Marriott shareholders of $0.03 in the fourth quarter of 2008.
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Reported income from continuing operations attributable to Marriott was $106 million in the fourth quarter of 2009 compared to a reported loss from continuing operations attributable to Marriott of $10 million in the year-ago quarter. Reported diluted EPS from continuing operations attributable to Marriott shareholders was $0.28 in the fourth quarter of 2009 compared to reported diluted losses per share from continuing operations attributable to Marriott shareholders of $0.03 in the fourth quarter of 2008.
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