LAS VEGAS (AP) — Gamblers are wagering less than a year ago, visiting casinos less often and holding back on extras when they do, continuing trends that left the industry struggling in the third quarter.
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Wednesday, October 28, 2009
Harrah’s Entertainment Reports Results for 2009 Third Quarter, First Nine Months
• Revenues decline 13.7 percent from 2008 third quarter
• Third-Quarter Property EBITDA declines 12.2 percent
• Impairment charge on intangible assets impacts results
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• Third-Quarter Property EBITDA declines 12.2 percent
• Impairment charge on intangible assets impacts results
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Panera profit beats view, shares up on outlook
LOS ANGELES, Oct 27 (Reuters) - U.S. bakery-cafe operator Panera Bread Co (PNRA.O) posted quarterly profit that beat expectations, forecast 2010 earnings above analysts' view and said this quarter's sales were on the uptick, sending shares up nearly 5 percent
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Panera Bread Reports Q3 EPS of $0.61 (including $0.04 in net charges), up 35% over Q3 2008
HIGHLIGHTS
- Company-owned comparable sales (calendar basis) up 6.9% in the first 27 days of Q4 09
- Franchise comparable sales (calendar basis) up 6.3% in the first 27 days of Q4 09
- Q3 2009 Company-owned comparable bakery-cafe sales up 3.3% over Q3 2008
- Q3 2009 operating margin up 230 bps over Q3 2008
- Q3 2009 net income up 38% over Q3 2008
- Q4 2009 EPS target $0.85 to $0.87 (net of $0.05 of expected asset retirement expenses)
- FY 2010 EPS target set at $3.05 to $3.15 (up 14% to 18% versus target for FY 2009)
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- Company-owned comparable sales (calendar basis) up 6.9% in the first 27 days of Q4 09
- Franchise comparable sales (calendar basis) up 6.3% in the first 27 days of Q4 09
- Q3 2009 Company-owned comparable bakery-cafe sales up 3.3% over Q3 2008
- Q3 2009 operating margin up 230 bps over Q3 2008
- Q3 2009 net income up 38% over Q3 2008
- Q4 2009 EPS target $0.85 to $0.87 (net of $0.05 of expected asset retirement expenses)
- FY 2010 EPS target set at $3.05 to $3.15 (up 14% to 18% versus target for FY 2009)
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Wynn Resorts Falls on 33% Drop in Third-Quarter Net
Oct. 27 (Bloomberg) -- Wynn Resorts Ltd., the casino company founded by Stephen Wynn, declined the most in five months in U.S. trading after reporting a 33 percent drop in third-quarter profit.
Wynn fell $6.94, or 11 percent, to $56.13 at 4 p.m. New York time on the Nasdaq Stock Market, the biggest intraday decline since April. It has gained 33 percent this year.
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Wynn fell $6.94, or 11 percent, to $56.13 at 4 p.m. New York time on the Nasdaq Stock Market, the biggest intraday decline since April. It has gained 33 percent this year.
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Wynn Resorts, Limited Reports Third Quarter Results
On a US GAAP (Generally Accepted Accounting Principles) basis, net income for the quarter was $34.2 million, or $0.28 per diluted share, compared to net income of $51.2 million, or $0.49 per diluted share in 2008. Adjusted net income in the third quarter of 2009 was $39.9 million, or $0.33 per diluted share (adjusted EPS)(2) compared to an adjusted net income of $64.3 million, or $0.62 per diluted share in the third quarter of 2008.
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Some Chain Restaurants Gaining Traction
Thus far in Q3 2009 earnings season, most of the chain restaurants have delivered “good” earnings results: generally negative sales comp results, favorable commodity and other cost reductions and as a result meeting EPS expectations.
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Blackstone Group eyes cutting Hilton debt
Oct 28 (Reuters) - U.S. private equity firm Blackstone Group (BX.N) has opened discussions with lenders to slash up to $5 billion in debt held by its unit Hilton Hotels, the Wall Street Journal said, citing people familiar with the matter
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Buffalo Wild Wings, Inc. Announces Third Quarter 2009 Results
Total revenue increased 25.1% to $132.7 million
Company-owned restaurant sales grew 26.0% to $120.3 million
Same-store sales increased 0.8% at company-owned restaurants and 1.9% at franchised restaurants
Net earnings increased 50.4% to $6.9 million from $4.6 million, and earnings per diluted share increased 52.0% to $0.38 from $0.25
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Company-owned restaurant sales grew 26.0% to $120.3 million
Same-store sales increased 0.8% at company-owned restaurants and 1.9% at franchised restaurants
Net earnings increased 50.4% to $6.9 million from $4.6 million, and earnings per diluted share increased 52.0% to $0.38 from $0.25
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