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FE&SFlashNews — 2004-10-11 — News

October 11, 2004

Chain Update: McDonald’s, CKE And Others

A number of major chain restaurants have announced significant financial or operational news in recent days.

McDonald’s has released its system-wide and same-store sales results for the month of September. In the United States, McDonald’s reported a same-store sales increase of 10.6% compared to the same period a year earlier. Domestic overall sales grew by 11.2%. Restaurants in Europe reported a same-store sales decline of 0.6%. The company also announced that it anticipates reporting earnings per share for the third quarter of about $0.61, including one-time items.

CKE Restaurants has announced its same-store sales for the four-week period that ended on Oct. 4. The Carl’s Jr. concept increased its same-store sales by 8.8% compared to the same time last year, while Hardee’s same-store sales grew by 5.1%.

Denny’s has reported that its same-store sales for the five weeks that ended on Sept. 29 increased by 7% compared to the year-ago period. The average guest check grew by 4.6% during the period and guest counts increased by a total of 2.3%. For the full quarter ending on Sept. 29, the company’s same-store sales increased by 6.8%, with its guest-check average up by 3.8% and guest counts increasing 2.9% compared to the same quarter last year.

IHOP has released its sales results for the quarter that ended on Sept. 30. The company’s same-store sales increased by 5.3% compared to the year-ago quarter, while system-wide sales climbed by 5.6%.

Krispy Kreme Doughnuts has announced that the Securities and Exchange Commission has formalized its investigation into the company. The firm came under regulatory scrutiny last summer concerning its purchases of franchised units and its earnings guidance.

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