February 7, 2005

Chain Update: McDonald's Wendy's and Others

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

* Global systemwide sales for McDonald’s increased in January by 6.3% in constant currencies vs. January 2004. Global same-store sales increased by 5.2% in constant currencies. In the United States, McDonald’s same-store sales grew by 4.1% compared to the same period a year earlier.

* Wendy’s reported same-store sales results for its January period, which closed on Feb. 6. Sales at company-owned domestic Wendy’s units grew by 0.5% compared to the year-ago period, while U.S.-based franchised stores increased their same-store sales by 1.4% to 1.6% Tim Hortons units in Canada grew their same-store sales by 6.8% to 7.2%, while Tim Hortons units in the United Sates posted same-store sales growth of 9.3% to 9.7%.

* Darden Restaurants announced its same-store sales results for the four-week period that ended on Jan. 30. Same-store sales at Olive Garden grew by 4% to 5% compared to the year-ago period, reflecting a 3% increase in guest counts and a 1% to 2% increase in check average. Same-store sales at Red Lobster fell by between 8% and 9% vs. the same period a year ago. The decline reflects a 9% to 10% decrease in guest counts and a 1% increase in check average.

* CKE Restaurants released its same-store sales figures for the five weeks that ended Jan. 31. The company’s Carl’s Jr. Concept increase its same-store sales by 2.7% vs. the same period a year earlier. Carl’s Jr.’s same-store sales increased by 4.9% for the full fourth quarter, and by 7.7% for the fiscal year. Hardee’s posted a 2.3% increase in same-store sales for the fiscal month, 4.4% for the quarter and 7% for the fiscal year.

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