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FE&SFlashNews — 2004-12-27 — News

December 27, 2004

Chain Update: AFC, Cracker Barrel And Buffet Holdings

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

AFC Enterprises has announced that it has completed the sale of its Church’s Chicken brand to Crescent Capital Investments. The company expects to report net proceeds from the sale, as well as from related transactions, of approximately $275 million.

CRBL Group has released its same-store sales for the four-week period that ended on Dec. 24. Same-store sales at the company’s Cracker Barrel Old Country Store concept increased by 7.3% vs. the same period a year earlier. Same-store sales at Logan’s Roadhouse units grew by 7% year-over-year.

Buffets Holdings has reported that its same-store sales for the second quarter of its fiscal year 2005 decreased by 2.3% compared to the same period a year ago. The company also announced that on Jan. 13 it will hold a conference call to discuss its second quarter results

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