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January 31, 2005
Chain Update: McDonald's, Yum and More
A number of major chain restaurants announced significant financial or operational news in recent days.
* McDonald’s released its financial results for the fourth-quarter and full-year 2004. The company reported revenue of $5.01 billion for the quarter, an increase of 10% compared to the same period a year earlier. Net income for the quarter was $397.9 million. For all of 2004, net income was $2.28 billion on revenue of $19.06 billion, an 11% increase over 2003.
* Yum! Brands announced its financial results for the fourth-quarter and full-year 2004. Worldwide same-store sales increased by 2% during the quarter and by 3% for the year. Revenue for the quarter increased by 5% to $2.79 billion, while full 2004 revenue increased by 8% to $9.01 billion. The company also announced its domestic same-store sales results for the four-week period that ended on Jan. 22. Pizza Hut same-store sales increased by 5%, Taco Bell by 3% and KFC by 1%.
* Outback Steakhouse reported its same-store sales results for the four-weeks that closed on Jan. 22. Same-store sales at company-owned outback units increased by 2.9% compared to the year-ago period, while franchised and joint-ventured units grew their same-store sales by 5%. System-wide same-store sales for the Outback units increased by 3.2% vs. the same period last year. The company’s Carrabba’s Italian Grill concept posted a 4.8% same-store sales increase, while Bonefish Grills reported 2.2% same-store sales growth.
* CRBL Group released its same-store sales results for the five-week period that ended on Jan. 28. Same-store restaurant sales at its Cracker Barrel Old Country Store concept decreased by 0.6% from the same period a year ago. Logan’s Roadhouse units posted a same-store sales increase of 1.9%. The company indicated that its same-store sales results were negatively impacted by about 4% due to a shift in the timing of Christmas to this year’s fiscal January from last year’s fiscal December.
* Papa John’s International announced that Nigel Travis will join the company as president and CEO, effective April 1. Travis previously served as president and chief operating officer of Blockbuster.
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