You're No Warren Buffett, Steak n Shake

Remember when Octomom tried to look like Angelina Jolie? Steak n Shake (NYSE: SNS) is trying to do something similar, with its recent channeling of Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B). But instead of lip-puffing Botox and a new layered 'do, Steak n Shake is going for a reverse split and an insurance-company acquisition.

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THE STEAK N SHAKE COMPANY REPORTS FULL YEAR AND

Net earnings for fiscal year 2009 were $6.0 million, or $0.21 per diluted share, contrasted to a net loss of ($23.0 million),or ($0.81) per diluted share for the same period a year ago. The Company’s fiscal year 2009 included 53 weeks whereas fiscal year 2008 included 52 weeks. Fiscal year 2009 results included $2.6 million of charges ($1.6 million, or $0.06 per diluted share, net of tax) primarily related to the write down of real estate values. In comparison, fiscal year 2008 results included $14.9 million ($9.2 million, or $0.33 per diluted share, net of tax) of non cash impairment charges, store closure costs, and an early lease termination fee. For the full year but excluding the impact of the 53rd week, customer traffic and same-store sales increased 10.1% and 4.1%, respectively, over prior year.

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Steak n Shake to buy Western Sizzlin

The Steak n Shake Co.’s announcement this morning that it plans to purchase Western Sizzlin Corp. for about $23 million puts the Indianapolis restaurant company back in the steakhouse business for the first time since exiting it nearly a decade ago.In 2000, the company — then known as Consolidated Products Inc. — sold off its 11 Colorado Steakhouses in order to focus on its core Steak n Shake business.

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The Steak n Shake Company Reports Fiscal Third Quarter 2009 Results

INDIANAPOLIS, Aug. 10 /PRNewswire-FirstCall/ --The Steak n Shake Company (NYSE: SNS) announces its results for its third fiscal quarter 2009, which ended July 1, 2009. Net earnings for the third quarter of fiscal year 2009 were $3.8 million, or $0.13 per diluted share, contrasted to a net loss of ($9.8 million), or ($0.35) per diluted share in the third quarter of fiscal year 2008. Last year's third quarter loss included $8.7 million, or $0.31 per diluted share, net of tax impairment charges related to underperforming restaurants.

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Steak n Shake shares jump on same-store sales rise

NEW YORK (AP) -- Shares of restaurant chain Steak n Shake Co. soared Wednesday after the company said its same-store sales for its fiscal third quarter jumped 5 percent on a big boost in customer traffic.
Shares rose $1.08, or 13 percent, to $9.19 in midday trading.
After the market closed Tuesday, the company said its customer traffic climbed 13.4 percent for the quarter ended July 1, helping drive up its same-store sales, or sales at locations open at least 18 months

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Steak n Shake CEO triples his salary

Sardar Biglari, the activist investor who last year took control of the struggling restaurant chain Steak n Shake Co., now is making more than his predecessors.

The board of the Indianapolis company has voted to more than triple the CEO's annual salary to $900,000, up from $280,000.
Steak n Shake said the vote occurred June 19 and that Biglari does not have an employment agreement. He also will not participate in any bonus programs or receive any stock or stock option grants.

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The Steak n Shake Company Reports Fiscal Second Quarter 2009 Results

Net earnings for the second quarter of fiscal year 2009 were $2.3 million,
or $0.08 per diluted share, contrasted to a net loss of ($2.8 million), or
($0.10) per diluted share in the second quarter of fiscal year 2008.
Quarterly same-store sales increased 2.4% due to an increase in guest
traffic of 7.8%, offset by a 5.4% contraction in the average guest check.
Net sales decreased 0.7% from $189.3 million to $188.0 million in the
current quarter because Steak n Shake operated 21 fewer company-owned
restaurants following the closure and refranchising of certain units after
the same period in the previous year.