McDonald's reported the following third quarter highlights:
-- Global comparable sales increased 3.8% with the U.S. up 2.5%, Europe up
5.8% and Asia/Pacific, Middle East and Africa up 2.2%
-- Consolidated operating income increased 6% (11% in constant currencies)
over the prior year
-- Earnings per share of $1.15, a 10% increase (14% in constant currencies)
over the prior year
-- The quarterly cash dividend increased 10% to $0.55 per share - the
equivalent of $2.20 per share annually - effective fourth quarter 2009
-- Approximately $1.3 billion returned to shareholders through share
repurchases and dividends
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Sunday, November 1, 2009
Burger King Holdings Inc. Reports First Quarter Fiscal 2010 Results
First Quarter Highlights:
Solid development growth across all business segments as net restaurant count increased by 58 with international markets accounting for approximately 80 percent of the increase;
U.S. and Canada company restaurant margin improved 180 basis points to 13.9 percent from 12.1 percent in the same period last year;
Worldwide company restaurant margin improved 40 basis points to 13.0 percent from 12.6 percent in the same period last year;
Worldwide comparable sales were negative 2.9 percent compared to positive 3.6 percent in the same period last year;
Earnings per share were $0.34, including $0.02 per share of negative impact from currency translation, compared to earnings per share of $0.36 and adjusted earnings per share of $0.38 in the same period last year.
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Solid development growth across all business segments as net restaurant count increased by 58 with international markets accounting for approximately 80 percent of the increase;
U.S. and Canada company restaurant margin improved 180 basis points to 13.9 percent from 12.1 percent in the same period last year;
Worldwide company restaurant margin improved 40 basis points to 13.0 percent from 12.6 percent in the same period last year;
Worldwide comparable sales were negative 2.9 percent compared to positive 3.6 percent in the same period last year;
Earnings per share were $0.34, including $0.02 per share of negative impact from currency translation, compared to earnings per share of $0.36 and adjusted earnings per share of $0.38 in the same period last year.
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Turnberry told to pay $6M to Fairmont
The Soffer family's Turnberry Isle resort must pay $6 million to the hotel's operator -- fees held back over allegations of mismanagement at the money-losing luxury resort in Aventura.
An arbitrator awarded the $6 million in back fees and interest to Fairmont Hotels & Resorts after Turnberry dropped its objection to the claim. But after giving up in the arbitration, a Turnberry lawyer wrote Fairmont that the owner won't pay the fee because other claims against Fairmont are much larger
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An arbitrator awarded the $6 million in back fees and interest to Fairmont Hotels & Resorts after Turnberry dropped its objection to the claim. But after giving up in the arbitration, a Turnberry lawyer wrote Fairmont that the owner won't pay the fee because other claims against Fairmont are much larger
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$855 a Night? Can We Talk?
WHAT’S the best way to book a hotel? That’s becoming trickier as hotels try everything they can to drum up business in one of their most challenging years.
Average daily hotel rates in the United States are expected to drop 9.7 percent for the year, to $96.43, according to Smith Travel Research, which tracks the industry. That would be the steepest year-over-year decrease since Smith began tracking hotel data in 1987
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Average daily hotel rates in the United States are expected to drop 9.7 percent for the year, to $96.43, according to Smith Travel Research, which tracks the industry. That would be the steepest year-over-year decrease since Smith began tracking hotel data in 1987
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Saturday, October 31, 2009
Sol Kerzner still planning casino for London's O2 Arena
Sol Kerzner, the casino magnate, is hoping to revive his £200m plan to build a super-casino and hotel at the site of London's former Millennium Dome.
The 74-year-old South African made the disclosure as he prepared for Saturday's gala opening of Mazagan Beach Resort, 90km outside Casablanca, Morocco, where snake-charmers and belly dancers are set to mingle with celebrities including Naomi Campbell, Lindsay Lohan, Naomi Watts and Simon and Yasmin Le Bon.
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The 74-year-old South African made the disclosure as he prepared for Saturday's gala opening of Mazagan Beach Resort, 90km outside Casablanca, Morocco, where snake-charmers and belly dancers are set to mingle with celebrities including Naomi Campbell, Lindsay Lohan, Naomi Watts and Simon and Yasmin Le Bon.
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Travelodge hotel chain posts pretax profit of €1.2m
THE TRAVELODGE hotel chain have posted pretax profits of more than €1.2 million for 2008 in abridged accounts filed with the Companies Registration Office.
Smorgs (Ireland) Limited, the company which trades as the Travelodge chain in Ireland, posted pretax profits for the 12-month period ending December 31st, 2008, of €1.26 million, down over €500,000 on the previous year.
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Smorgs (Ireland) Limited, the company which trades as the Travelodge chain in Ireland, posted pretax profits for the 12-month period ending December 31st, 2008, of €1.26 million, down over €500,000 on the previous year.
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Win a hotel
[UKPRwire, Tue Oct 27 2009] If you are bored with the same old nine to five slog, why not start a whole new life as the manager of your own hotel – a stylish sixteen-bedroom hotel in Wiltshire and £50,000 annual income is being offered as a prize in the latest property competition to hit the headlines...
The Landmark Swindon is set in the heart of the beautiful Marlborough Downs near Swindon in Wiltshire.
Its directors, Malcolm and Margaret Pearson, have owned the hotel property since it was built in 1979, converted and refurbished the building into a Hotel in 2000
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The Landmark Swindon is set in the heart of the beautiful Marlborough Downs near Swindon in Wiltshire.
Its directors, Malcolm and Margaret Pearson, have owned the hotel property since it was built in 1979, converted and refurbished the building into a Hotel in 2000
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Friday, October 30, 2009
Las Vegas Sands Corp. Reports Third Quarter 2009 Results
Net revenue for the third quarter of 2009 was $1.14 billion, an increase of 3.2% compared to $1.11 billion in the third quarter of 2008. Consolidated adjusted property EBITDAR in the third quarter of 2009 increased 11.7% to $272.3 million, compared to $243.8 million in the year-ago quarter.
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Las Vegas Sands gets approval for Hong Kong IPO
HONG KONG—U.S. gambling giant Las Vegas Sands Corp. has won approval from Hong Kong's stock exchange to list shares of the company's Macau casino business, a person familiar with the listing said Friday
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Tim Hortons Inc. Announces 2009 Third Quarter Results
Highlights
•Same-store sales increased 3.1% in Canada and 4.3% in the U.S.
•Quarterly results incorporate costs and discrete tax item impacts arising from the Canadian public company reorganization
•Operating income increased 5.4% to $129.2 million
•Adjusted operating income(1), which excludes impact of the public company reorganization, was up 8.0%
Link to Financial Statements
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•Same-store sales increased 3.1% in Canada and 4.3% in the U.S.
•Quarterly results incorporate costs and discrete tax item impacts arising from the Canadian public company reorganization
•Operating income increased 5.4% to $129.2 million
•Adjusted operating income(1), which excludes impact of the public company reorganization, was up 8.0%
Link to Financial Statements
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CEC Entertainment Reports Financial Results for the Third Quarter of Fiscal 2009
IRVING, Texas--(BUSINESS WIRE)--Oct. 29, 2009-- CEC Entertainment, Inc. (NYSE: CEC) today reported net earnings of $12.7 million for the third quarter ended September 27, 2009, compared to net earnings of $9.9 million in the third quarter of 2008. Diluted earnings per share increased to $0.55 for the third quarter of 2009, compared to $0.43 in the third quarter of 2008. The increase in diluted earnings per share between the two quarters was impacted by our repurchase of approximately 1.1 million shares of our common stock since the beginning of the third quarter of 2008. Total quarterly revenues decreased 2.0% to $197.8 million during the third quarter of 2009 from total quarterly revenues of $201.9 million in the third quarter of 2008. Comparable store sales for the third quarter of 2009 declined 3.1%
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Denny's Corporation Reports Results for the Third Quarter 2009
Third Quarter Highlights
Opened nine new franchised restaurants and sold seven company restaurants under Denny's Franchise Growth Initiative (FGI) - franchised restaurants now 83% of Denny's system
Net income was $10.0 million, which included $3.1 million from gains on sales of assets
Adjusted income before taxes grew 6.9% to $9.1 million
Reduced debt by an additional $9.8 million
Same-store sales decreased 6.6% at company units and 7.3% at franchised units
Company restaurant operating margin improved 3.0 percentage points to 16.3% of sales, primarily due to favorable workers' compensation claims developments
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Opened nine new franchised restaurants and sold seven company restaurants under Denny's Franchise Growth Initiative (FGI) - franchised restaurants now 83% of Denny's system
Net income was $10.0 million, which included $3.1 million from gains on sales of assets
Adjusted income before taxes grew 6.9% to $9.1 million
Reduced debt by an additional $9.8 million
Same-store sales decreased 6.6% at company units and 7.3% at franchised units
Company restaurant operating margin improved 3.0 percentage points to 16.3% of sales, primarily due to favorable workers' compensation claims developments
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Ruth's Hospitality Group, Inc. Reports Third Quarter 2009 Financial Results
Total revenue decreased 21.4% to $77.8 million compared to $98.9 million in the third quarter of 2008.
Net loss of $1.0 million or $0.04 per diluted share compared to a net loss of $0.5 million or $0.02 per diluted share in the third quarter of 2008.
Company-owned comparable restaurant sales for Ruth's Chris Steak House decreased 24.0%. Company-owned comparable restaurant sales for Mitchell's Fish Market decreased 12.3%.
Food and beverage costs, as a percentage of restaurant sales, decreased 330 basis points to 28.5% primarily driven by favorable beef costs.
Restaurant operating expenses, as a percentage of restaurant sales, increased 410 basis points to 57.5% resulting from the effect of fixed costs related to lower sales volumes.
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Net loss of $1.0 million or $0.04 per diluted share compared to a net loss of $0.5 million or $0.02 per diluted share in the third quarter of 2008.
Company-owned comparable restaurant sales for Ruth's Chris Steak House decreased 24.0%. Company-owned comparable restaurant sales for Mitchell's Fish Market decreased 12.3%.
Food and beverage costs, as a percentage of restaurant sales, decreased 330 basis points to 28.5% primarily driven by favorable beef costs.
Restaurant operating expenses, as a percentage of restaurant sales, increased 410 basis points to 57.5% resulting from the effect of fixed costs related to lower sales volumes.
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