CKE Restaurants, Inc. Reports Positive Period Three Blended Same-Store Sales
CARPINTERIA, Calif., April 30, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- CKE Restaurants, Inc. (NYSE: CKR) announced today period three same-store sales for the four weeks ended Apr. 21, 2008, for Carl's Jr.(R) and Hardee's(R).
Brand Period 3 Year to Date
FY 2009 FY 2008 FY 2009 FY 2008
Carl's Jr. +3.8 % +2.2 % +3.8 % +0.2 %
Hardee's -0.8 % +2.4 % -0.4 % +2.3 %
Blended +1.7 % +2.3 % +1.8 % +1.3 %
Commenting on the Company's performance, Andrew F. Puzder, president and chief executive officer, said, "We are pleased to report positive blended same-store sales of 1.7 percent for the third period of fiscal 2009 and 1.8 percent for the year to date. On a two year basis, blended same-store sales were up 4.0 percent for the third period."
"Carl's Jr. achieved a 3.8 percent same store sales increase over positive same store sales of 2.2 percent last year for a two year cumulative increase of 6.0 percent. Carl's Jr. continued to feature Chili Cheese Burgers and Chili Cheese Fries during the period. Our customers can order the burger with a single or double charbroiled beef patties, or our 100 percent Black Angus Six Dollar Burger(TM) patty. The burgers are topped with beef chili, American cheese, tomatoes, onions, pickles and mustard. Our Chili Cheese Fries are covered with the same beef chili, then topped with melted jack and cheddar cheese and served with a fork. The fries are available as a side item or can be added to any combo for an additional charge. The products received media support during the period through a series of 'messy, drippy' commercials," said Puzder. "In addition, Carl's Jr. promoted the unique Cap'n Crunch(R) shake during the period. As of the end of period three, the trailing 13-period average unit volume at Carl's Jr. was $1,509,000, a $15,000 per unit increase since the end of fiscal 2008 and an all-time high for the brand." Revenue for period three from company-operated Carl's Jr. restaurants (exclusive of franchise-related revenue and royalties) was approximately $49.3 million.
"Hardee's same-store sales were down 0.8 percent versus positive same- store sales of 2.4 percent last year for a two year cumulative increase of 1.6 percent. Hardee's promoted the Jalapeno Thickburger(TM) during period three. We charbroil our 1/3-pound, 100 percent Black Angus beef patty and top it with sliced jalapeno peppers, Pepperjack cheese, lettuce, tomato and our zesty Santa Fe sauce. Hardee's also added the Chicken Fillet Biscuit to its breakfast menu systemwide. The product features a crispy buttermilk battered chicken breast fillet served on Hardee's signature Made from Scratch(TM) biscuit. Media support for the biscuit began on Mar. 31," Puzder continued. "As of the end of period three, the trailing 13-period average unit volume at Hardee's was $959,000. In addition, Hardee's period three average unit volume was higher than any comparable period three since fiscal 1995, which is as far back as we can check." Revenue for period three from company-operated Hardee's restaurants (exclusive of franchise-related revenue and royalties) was approximately $41.4 million.
For period three, consolidated revenue from company-operated restaurants
(exclusive of all franchise-related revenue and royalties) was approximately
Carl's Jr. $ 49.3 million
Hardee's $ 41.4 million
Total $ 90.7 million
"We will report same-store sales results for period four of fiscal year 2009, ending May 19, 2008, on or about May 28, 2008."
As of the end of its fiscal fourth quarter on Jan. 28, 2008, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,083 franchised or company-operated restaurants in 42 states and in 13 countries, including 1,141 Carl's Jr. restaurants and 1,926 Hardee's restaurants.
SAFE HARBOR DISCLOSURE
Matters discussed in this news release contain forward-looking statements relating to future plans and developments, financial goals and operating performance that are based on management's current beliefs and assumptions. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond the Company's control and which may cause results to differ materially from expectations. Factors that could cause the Company's results to differ materially from those described include, but are not limited to, whether or not restaurants will be closed and the number of restaurant closures, consumers' concerns or adverse publicity regarding the Company's products, the effectiveness of operating initiatives and advertising and promotional efforts (particularly at the Hardee's brand), changes in economic conditions or prevailing interest rates, changes in the price or availability of commodities, availability and cost of energy, workers' compensation and general liability premiums and claims experience, changes in the Company's suppliers' ability to provide quality and timely products to the Company, delays in opening new restaurants or completing remodels, severe weather conditions, the operational and financial success of the Company's franchisees, franchisees' willingness to participate in the Company's strategies, the availability of financing for the Company and its franchisees, unfavorable outcomes in litigation, changes in accounting policies and practices, effectiveness of internal controls over financial reporting, new legislation or government regulation (including environmental laws), the availability of suitable locations and terms for the sites designated for development, and other factors as discussed in the Company's filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward- looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the New York Stock Exchange.
SOURCE CKE Restaurants, Inc.