Sbarro, Inc. Announces Results of Operations for the Second Quarter and Six Months Ended June 27, 2010

MELVILLE, N.Y.--(BUSINESS WIRE)--Sbarro, Inc. (the “Company”) announced results of operations for the second quarter and six months ended June 27, 2010. The Company’s detailed results are included in its Quarterly Report on Form 10-Q, which was filed with the SEC on August 11, 2010. Second Quarter Financial Results Revenues were $76.1 million for the quarter ended June 27, 2010 as compared to revenues of $80.1 million for the quarter ended June 28, 2009.

Read More:

Sbarro, Inc. Announces Results of Operations for the Fourth Quarter and Fiscal Year Ended December 27, 2009

Revenues were $94.0 million for the quarter ended December 27, 2009 as compared to revenues of $98.7 million for the quarter ended December 28, 2008. The decrease in revenues was due to a 4.6% decrease in Company-owned comparable-unit sales, lost sales from stores strategically closed and a decline in royalties on franchise sales, offset by sales generated by new Company-owned stores opened in 2009 and 2008. Domestic franchise comparable-unit sales declined 6.2%. The decrease in Company-owned and domestic franchise comparable-unit sales primarily reflects continued reduced mall traffic throughout the United States as a result of the current economic environment. Without consideration for foreign currency fluctuations, international franchise comparable-unit sales declined 4.4%. The strengthening of the U.S. Dollar relative to virtually all foreign currencies added an additional 2.7% decline in international franchise comparable unit sales.

read more:

Sbarro already a hit in Japan

Sbarro, the world's leading quick-service Italian restaurant concept, announced in a statement its aggressive expansion into the Japanese market, which will include the opening of 1,250 units.

Sbarro has partnered with JCI Inc. in a joint venture/franchise agreement that will see the expansion plan executed over a 20-year period. As part of the agreement, Sbarro and JCI Inc. announced the opening of the first restaurant at the AEON Mall in Hinode-Machi, Tokyo. The AEON Mall location, which opened on Dec. 29, is the first of three Sbarro restaurant openings planned for Tokyo, with two units slated to launch during the first quarter of 2010.

"In Tokyo, we've seen an immediate and powerful response from consumers who have already very warmly embraced the Sbarro brand," said Peter Beaudrault, president and CEO of Sbarro. "Working in tandem with the great team at JCI Inc., we are poised to aggressively expand the Sbarro footprint throughout all of Japan."

Sbarro, Inc. Announces Results of Operations for the Third Quarter and Nine Months Ended September 27, 2009

Revenues were $85.5 million for the quarter ended September 27, 2009 as compared to revenues of $91.9 million for the quarter ended September 28, 2008. The decrease in revenues was due to a 5.2% decrease in Company-owned comparable-unit sales and lost sales from stores strategically closed, partially offset by sales generated by new Company-owned stores opened in 2009 and 2008. The decrease in comparable-unit sales primarily reflects continued reduced mall traffic throughout the United States as a result of the current economic environment. Domestic franchise comparable-unit sales declined 7.1% while international franchise comparable-unit sales declined 27.3%, primarily due to the strengthening of the U.S. Dollar relative to virtually all foreign currencies. Without consideration for foreign currency fluctuations, the international franchise comparable-unit sales decline would have been 13%.

Read more:

Sbarro, Inc. Announces Results of Operations for the Second Quarter and Six Months Ended June 28, 2009

Net loss attributable to Sbarro, Inc. for the quarter ended June 28, 2009 was $6.5 million as compared to a net loss of $5.0 million for the quarter ended June 29, 2008. The increase was primarily the result of a $3.2 million increase in tax expense in the quarter as compared to the second quarter of 2008. Without consideration for taxes, net loss decreased approximately $1.7 million, or 21%.

Read more:
http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/08-12-2009/0005076738&EDATE=