CKE Restaurants(R), Inc. Reports Period Twelve Same-Store Sales
CARPINTERIA, Calif. (BUSINESS WIRE) -- CKE Restaurants, Inc. (NYSE: CKR) announced today period twelve company-operated same-store sales for the period ended December 28, 2009, for Carl's Jr.(R) and Hardee's(R).
Brand Period 12 Year to Date
FY 2010 FY 2009 FY 2010 FY 2009
Carl's Jr. -8.9% -1.6% -6.0% 2.2%
Hardee's -3.2% 3.2% -0.7% 1.2%
Blended -6.5% 0.4% -3.7% 1.8%
"Blended same-store sales decreased 6.5% for period 12 of our 13 period fiscal 2010. We believe the ongoing weakness in the overall economy coupled with poor weather conditions negatively impacted both brands' sales results during period 12," said Andrew F. Puzder, chief executive officer. "In this environment, we will continue to focus on profitability, the excellent value-for-the-money of our premium products and new initiatives to improve same-store sales and increase market share.
"For example, at Carl's Jr. we recently introduced three new premium salads with warm grilled chicken and on the last day of the period we began airing hot new ads starring reality TV celebrity Kim Kardashian. The new line of entrée salads puts Carl's Jr. squarely back in the forefront with salads that are just as big and indulgent as the burgers people have come to expect from us. With ingredients like grilled, marinated chicken, dried cranberries and candied walnuts, these salads are so full of flavor that they will entice even our most passionate burger lovers.
"Meanwhile, Hardee's re-introduced its popular Made from Scratch(TM) Blueberry Biscuits and continued to promote the Portobello Mushroom Melt Thickburger.
"We continue to believe the best way to position ourselves for an economic recovery is to maintain our brand image and integrity."
Period Twelve Revenue Trends
For period twelve, consolidated revenue from company-operated restaurants (exclusive of all franchise-related revenue and royalties) was approximately as follows:
Brand Period 12 Year to Date
($ in millions) FY 2010 FY 2009 FY 2010 FY 2009
Carl's Jr. $46.0 $49.7 $562.9 $579.8
Hardee's $35.9 $37.5 $447.3 $472.8
Total $81.9 $87.2 $1,010.2 $1,052.6
For period twelve, trailing-13 period average unit volume from company-operated restaurants was as follows:
Brand Period 12
($ in thousands) FY 2010 FY 2009
Carl's Jr. $1,448 $1,528
Hardee's $1,002 $990
Blended $1,211 $1,228
The Company will report period thirteen same-store sales results on or about Feb 3, 2010.
Safe Harbor Disclosure
Matters discussed in this press release contain forward-looking statements including expectations related to the effect of the Company's future brand strategies, and the impact of the Company's sales and marketing initiatives, on profitability and future operating results 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 third quarter, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,147 franchised, licensed or company-operated restaurants in 42 states and in 14 countries, including 1,221 Carl's Jr. restaurants and 1,913 Hardee's restaurants.
SOURCE: CKE Restaurants, Inc.