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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Friday, October 30, 2009
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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Thursday, October 29, 2009
Expert says Bahamian tourism won't rebound for another year
WHILE hotel performance for September and October appears to be "slightly better" than the same period last year, a tourism expert does not expect the industry to fully rebound from the grips of the economic downturn for at least another year.
Frank Comito, executive vice-president of the Bahamas Hotel Association, said despite what he expects to be a modest boost in performance over the last two months, the sector should remain braced for a rough ride lasting until late 2010, early 2011
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Frank Comito, executive vice-president of the Bahamas Hotel Association, said despite what he expects to be a modest boost in performance over the last two months, the sector should remain braced for a rough ride lasting until late 2010, early 2011
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Barmen charged as hotel guest dies from alcohol intoxication
TWO barmen working in one of the country's most famous hotels have been charged with the unlawful killing of an Englishman who died from acute alcohol intoxication on the night of his birthday
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Kingdom Hotel Investments sees Q3 revPAR down 9%
Trading remains in line with general market trends and despite the global economic challenges KHI’s hotel operations remain profitable and cash generative,” the luxury hotel operator said in a statement on the Nasdaq Dubai website.
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Pizza Hut iPhone App Reaches $1 Million in Sales
PRESS RELEASE: DALLAS, Oct. 28 /PRNewswire/ -- After being live in the iTunes App Store for just three months, the Pizza Hut App for the Apple iPhone and iPod touch has garnered more than one million dollars in sales. As the featured icon in the iTunes Lifestyle Category, the App is a proven option for customers seeking an innovative way to order their pizza, pasta, and wings from Pizza Hut
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Heineken to take over Globe Pubs
A new vehicle called EBP Pub Company has purchased the troubled operator after it was placed into administration with Zolfo Cooper, at the behest of bondholders who had appointed Bank of New York Mellon to oversee their interests.
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Wyndham profit beats view; eyes brand acquisitions
The company boosted its full-year EBITDA outlook by about 2 percent and forecast 2009 revenue and fourth-quarter results above analysts' estimates.
Wyndham also reported better-than-expected third-quarter profit, and its shares rose 1.5 percent to $16.94 in morning trade on the New York Stock Exchange
Concerns over Ladbroke's exposure to Hilton Hotels' $20bn debts
Hilton Hotels has a $20bn debt pile The private equity giant is talking to lenders in an attempt to cut $5bn of debt as part of a complex restructuring which could see it inject as much as $800m of new equity into the business. It comes just two years after the $26bn takeover of the hotel chain, at the height of the leveraged buy-out boom, since when the company’s trading has deteriorated.
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Hyatt IPO May Benefit Pritzkers Before Investors
Oct. 28 (Bloomberg) -- Hyatt Hotels Corp.’s planned initial public offering has conflicts that allow the founding Pritzker family to benefit ahead of shareholders, research firm Green Street Advisors said in a report today
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