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December 6, 2004
Chain Update: Yum, CKE And Others
A number of major chain restaurants have announced significant financial news in recent days.
* Yum! Brands has reported its same-store sales figures for the four weeks that ended on Nov. 27. Same-store sales increased by 5% at Taco Bell, and by 3% at Pizza Hut compared to the same period a year earlier. The company’s KFC concept reported a decline in same-store sales of 7%. Blended same-store sales were up by 1% vs. the year-ago period. The company also announced that it plans to open at least 350 new restaurants in the United States next year.
* CKE Restaurants has announced its same-store sales results for the four-week period that ended on Nov. 29. Carl’s Jr. units increased their same-store sales by 3.8% compared to the same period a year earlier, while the Hardee’s concept posted same-store sales growth of 5.5%.
* Denny’s has reported its same-store sales results for the four-week period that ended on Nov. 24. The company’s same-store sales increased by 6%, reflecting a 7.3% higher check average and a 1.2% decline in guest counts.
* Bob Evans Farms has released its same-store sales for the four weeks that came to a close on Nov. 26. Sales at the company’s 476 “core”restaurants decreased by 1.3% vs. the year-ago period, while average menu prices increased by 1.9%. The company’s Mimi’s Café concept reported a same-store sales increase of 4.7%, with an average menu price increase of approximately 2.8%.
* The Smith & Wollensky Restaurant Group has released its sales results for its fiscal month of November, which ended on Nov. 22. Total consolidated restaurant sales were approximately $10.9 million, a year-over-year increase of 21.6%. Same-store sales increased by 3.5% during the period compared to the same time a year ago.
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