Highlights for the fourth quarter of 2009 compared to prior year include:
•Consolidated revenues increased 10.8% to $326.7 million
•Comparable store sales declined 5.2% at the Bistro and increased 3.0% at Pei Wei
•Restaurant operating income margin increased 100 basis points to 12.7%
•Income from continuing operations increased 60.0% to $12.0 million
•Net income increased 121.0%(1) to $12.0 million
•Income from continuing operations per diluted share increased 67.7% to $0.52
•Net income per diluted share increased 126.1%(1) to $0.52
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Wednesday, February 17, 2010
Flanigan's Announces Earnings
FORT LAUDERDALE, Fla., Feb. 17 /PRNewswire-FirstCall/ -- FLANIGAN'S ENTERPRISES, INC., (AMEX: BDL) owners and operators of the "Flanigan's Seafood Bar and Grill" restaurants and "Big Daddy's" retail liquor stores, today announced results for the 13 weeks ended January 2, 2010. The table below sets forth the results on a comparative basis with the 13 weeks ended December 27, 2008.
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Jack in the Box Inc. Reports First Quarter FY 2010 Earnings
SAN DIEGO, Feb 17, 2010 (BUSINESS WIRE) -- Jack in the Box Inc. (NASDAQ: JACK) today reported net earnings of $24.2 million, or 43 cents per diluted share, for the first quarter ended Jan. 17, 2010, compared with earnings from continuing operations of $28.0 million, or 49 cents per diluted share, for the first quarter of fiscal 2009.
Same-store sales at Jack in the Box(R) company restaurants decreased 11.1 percent in the first quarter of 2010 compared with a year-ago increase of 1.7 percent.
Linda A. Lang, chairman, chief executive officer and president, said, "We believe high unemployment rates for our key customer demographics continue to be the biggest factor impacting sales at Jack in the Box."
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Same-store sales at Jack in the Box(R) company restaurants decreased 11.1 percent in the first quarter of 2010 compared with a year-ago increase of 1.7 percent.
Linda A. Lang, chairman, chief executive officer and president, said, "We believe high unemployment rates for our key customer demographics continue to be the biggest factor impacting sales at Jack in the Box."
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Denny's Corporation Reports Results for Fourth Quarter and Full Year 2009
SPARTANBURG, S.C., Feb 17, 2010 (BUSINESS WIRE) -- Denny's Corporation (NASDAQ:DENN) today reported results for its fourth quarter and year ended December 30th, 2009.
Full Year Summary
•Opened forty new restaurants and delivered positive system unit growth of ten restaurants
•Sold eighty-one company restaurants under Denny's Franchise Growth Initiative (FGI); franchised restaurants are now 85% of Denny's system
•Net income of $41.6 million, including $19.4 million of gains on sale of assets
•Adjusted income before taxes* grew $6.8 million, or 29%, to $30.0 million
•Generated $40.7 million in cash proceeds from asset sales and reduced outstanding debt by $49.0 million
•Same-store sales decreased 3.7% at company units and 5.2% at franchised units
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Full Year Summary
•Opened forty new restaurants and delivered positive system unit growth of ten restaurants
•Sold eighty-one company restaurants under Denny's Franchise Growth Initiative (FGI); franchised restaurants are now 85% of Denny's system
•Net income of $41.6 million, including $19.4 million of gains on sale of assets
•Adjusted income before taxes* grew $6.8 million, or 29%, to $30.0 million
•Generated $40.7 million in cash proceeds from asset sales and reduced outstanding debt by $49.0 million
•Same-store sales decreased 3.7% at company units and 5.2% at franchised units
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Burger King to offer a slightly different $1 deal
Burger King plans to raise the price of its controversial $1 double cheeseburger in April, replacing it with a similar value-engineered burger for $1.
The main difference between the two burgers: a slice of cheese, worth about a nickel.
The moves are part of a value menu strategy outlined to franchisees in a memo written last Friday by two of Burger King's top executives.
The question is whether the changes will be enough to satisfy franchisees, most of whom have been against the product since the October launch.
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The main difference between the two burgers: a slice of cheese, worth about a nickel.
The moves are part of a value menu strategy outlined to franchisees in a memo written last Friday by two of Burger King's top executives.
The question is whether the changes will be enough to satisfy franchisees, most of whom have been against the product since the October launch.
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Louvre Hotels open throughout Asia
Louvre Hotels is to expand in south-east Asia, beginning with the recent signing of two hotels in Thailand’s resort destination of Pattaya. The hotel group, which is owned by Starwood Capital and run by Barry Sternlicht, is aiming for a different strategy in Asia compared to other countries.
Currently Louvre Hotels is opening three different offices in Asia, in India, Shanghai in China and Bangkok in south-east Asia. This year the group will be opening hotels in Thailand including the Golden Tulip Resort Pattaya, Golden Tulip Erawan Hotel (Pattaya), Tulip Inn Lumpini Park (Bangkok) and Golden Tulip Madison Suites Bangkok.
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Currently Louvre Hotels is opening three different offices in Asia, in India, Shanghai in China and Bangkok in south-east Asia. This year the group will be opening hotels in Thailand including the Golden Tulip Resort Pattaya, Golden Tulip Erawan Hotel (Pattaya), Tulip Inn Lumpini Park (Bangkok) and Golden Tulip Madison Suites Bangkok.
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Brazil Opens Half-a-Billion-Dollar Line of Credit for Hotel Industry
Brazil's Ministry of Tourism and the Brazilian Development Bank (BNDES), last week, established a line of credit of 1 billion Brazilian reais (US$ 544.5 million) for refurbishing, expanding and building new hotels.
The initiative had already been announced in the first week of January. The line was launched in Rio de Janeiro by the minister of Tourism, Luiz Barretto, and the vice president of the BNDES, Armando Mariante.
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The initiative had already been announced in the first week of January. The line was launched in Rio de Janeiro by the minister of Tourism, Luiz Barretto, and the vice president of the BNDES, Armando Mariante.
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