CKE Restaurants(R), Inc. Reports Period Eight Same-Store Sales
CARPINTERIA, Calif.--(BUSINESS WIRE)--CKE Restaurants, Inc. (NYSE: CKR) announced today period eight company-operated same-store sales for the period ended September 7, 2009, for Carl's Jr.® and Hardee's®.
Brand Period 8 Year to Date
FY 2010 FY 2009 FY 2010 FY 2009
Carl's Jr. -3.1 % -0.1 % -5.3 % +3.4 %
Hardee's -1.3 % +1.1 % 0.0 % +1.0 %
Blended -2.3 % +0.4 % -3.0 % +2.3 %
"The troubled economy and the extremely competitive landscape continued to put pressure on same-store sales during the period. However, the impact moderated a bit in period 8 and showed the smallest decline we have seen in five periods," said Andrew F. Puzder, Chief Executive Officer. "We are determined to bring both brands back to positive sales territory, but to do so without demeaning our brand image or consumer perceptions with respect to the taste and quality of our products. A good example is The Big Carl™ and The Big Hardee™ campaigns which can be viewed at carlsjr.com, hardees.com or the brands' Youtube channels. Both campaigns are designed to educate consumers about our competitive value offerings. These burgers have more meat, more cheese and a lower price than the Big Mac and you can taste the charbroiled difference."
Period Eight Revenue Trends
For period eight, consolidated revenue from company-operated restaurants (exclusive of all franchise-related revenue and royalties) was approximately as follows:
Brand Period 8 Year to Date
($ in millions) FY 2010 FY 2009 FY 2010 FY 2009
Carl's Jr. $ 47.0 $ 47.1 $ 382.6 $ 389.4
Hardee's $ 36.5 $ 38.7 $ 301.7 $ 321.5
Total $ 83.5 $ 85.8 $ 684.3 $ 710.9
For period eight, trailing-13 period average unit volume from company-operated restaurants was as follows:
Brand Period 8
($ in thousands) FY 2010 FY 2009
Carl's Jr. $ 1,482 $ 1,527
Hardee's $ 1,006 $ 977
Total $ 1,227 $ 1,211
The Company will host a conference call and webcast on September 17, 2009, at 6:00 a.m. PDT/ 9:00a.m. EDT to review the second quarter 2010 results and discuss the Company's growth plans. The Company invites investors to listen to the live webcast of the conference call at www.ckr.com under "Investors." The dial in information is (617) 213-8838. Access Code 86163618.
The Company will report period nine same-store sales results on or about October 14, 2009.
SAFE HARBOR DISCLOSURE
Matters discussed in this press release contain forward-looking statements relating to future plans and developments, financial goals, and operating performance and are based on management's current beliefs and assumptions. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company's control. Factors that could cause the Company's results to differ materially from those described include, but are not limited to, the Company's ability to compete with other restaurants, supermarkets and convenience stores; changes in economic conditions which may affect the Company's business and stock price; the effect of restrictive covenants in the Company's credit facility on the Company's business; the Company's ability to attract and retain key personnel; the Company's franchisees' willingness to participate in the Company's strategy; the operational and financial success of the Company's franchisees; changes in consumer preferences and perceptions; changes in the price or availability of commodities; changes in the Company's suppliers' ability to provide quality products to the Company in a timely manner; the effect of the media's reports regarding food-borne illnesses and other health-related issues on the Company's reputation and its ability to obtain products; the seasonality of the Company's operations; increased insurance and/or self-insurance costs; the Company's ability to select appropriate restaurant locations, construct new restaurants, complete remodels of existing restaurants and renew leases with favorable terms; the Company's ability to comply with existing and future health, employment, environmental and other government regulations; 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.
CKE Restaurants, Inc.
Headquartered in Carpinteria, Calif., CKE Restaurants, Inc. is publicly traded on the New York Stock Exchange under the symbol "CKR." As of the end of its fiscal 2010 second quarter, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,140 franchised, licensed or company-operated restaurants in 42 states and in 14 countries, including 1,212 Carl's Jr. restaurants and 1,915 Hardee's restaurants.