Steak n Shake Franchise News

LAS VEGAS, Dec. 15, 2010 /PRNewswire/ -- South Point Hotel, Casino & Spa in Las Vegas will open the first Steak 'n Shake restaurant west of Texas on Thursday, December 16th at 11:00 am. The opening of this new Las Vegas dining establishment will feature a celebratory ribbon cutting by Sardar Biglari, Chairman and CEO of Biglari Holdings, owner of Steak 'n Shake, Las Vegas iconic mayor Oscar Goodman and South Point owner Michael Gaughan.

Mr. Biglari commented, "The opening of Steak 'n Shake in Las Vegas is a historic milestone because, after 76 years, we are expanding into a western state and an urban area, which epitomizes action and excitement. We are delighted to showcase the new, updated Steak 'n Shake inside the bustling South Point...

Western Sizzlin Corporation Declares a Special Dividend Payable to Western Sizzlin Stockholders in the Form of Shares of Steak n Shake

INDIANAPOLIS and ROANOKE, Va., Oct. 22 /PRNewswire-FirstCall/ -- The Steak n Shake Company ("SNS") (NYSE: SNS), and Western Sizzlin Corporation ("Western") (Nasdaq: WEST), today jointly announced that they had executed an agreement for a wholly-owned subsidiary of Steak n Shake to merge with and into Western. Western has also declared a special dividend payable to Western stockholders in the form of 1,322,806 shares of Steak n Shake common stock presently beneficially owned by an investment subsidiary of Western. Together, the dividend and (if and when completed) the merger are estimated to have an aggregate transaction value (in principal amount of Steak n Shake debentures and market value of Steak n Shake stock) to Western's stockholders of approximately $38...

INDIANAPOLIS and ROANOKE, Va., Aug. 13 /PRNewswire-FirstCall/ -- The Steak n Shake Company ("SNS") (NYSE: SNS), and Western Sizzlin Corporation ("Western") (Nasdaq: WEST), today jointly announced the execution of a non-binding Letter of Intent relating to a proposed merger of Western into a wholly-owned subsidiary of SNS. The Letter of Intent was negotiated between special committees of the boards of directors of both companies both of which were composed entirely of independent directors.

The Letter of Intent contemplates that on or prior to closing Western will distribute to its stockholders all of the SNS shares beneficially owned by Western. Further, under the terms of the Letter of Intent, the consideration payable to Western's stockholders will be based on a net transaction valuation of approximately $22,959,000...

INDIANAPOLIS, /PRNewswire-FirstCall/ -- The Steak n Shake Company (NYSE: SNS) today announced its results for its second fiscal quarter 2009, which ended April 8, 2009.
Fiscal Second Quarter 2009 ResultsNet 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...

INDIANAPOLIS, Nov. 10 /PRNewswire-FirstCall/ -- The Steak n Shake Company (NYSE: SNS) today announced its results for the full year and fiscal fourth quarter 2008, which ended September 24, 2008.
Selected Results from Fiscal 2008: Total revenues of $610.1 million General and administrative expense reduction of $7.1 million or 12.3% Improved cash and investment balance by $5.4 million Reduction of $15.3 million on credit facilities and long-term debt Cash flow from operations of $24.4 million

In fiscal 2008, total revenues decreased 6.7% to $610.1 million as compared to $654.1 million in fiscal 2007. Same-store sales declined by 7.1% during fiscal 2008. The net loss for fiscal 2008 was $23.0 million, or $0.81 per diluted share, compared to net earnings of $11...