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February 21, 2005
Chain Update: Brinker, Wendy’s and Others
A number of major chain operators announced significant financial or operational news in recent days.
* Wilson Craft resigned as president of Chili’s Grill & Bar, owned by Brinker International. Todd Diener, chief operating officer for Brinker, will assume leadership of Chili’s on an interim basis. Diener served as Chili’s president from 1998 to 2003.
* Wendy’s International reported its fourth-quarter 2004 financial results. The company’s revenue totaled $927.7 million, a 12.8% year-over-year increase. Due in part to several one-time charges, however, the chain posted a net loss of $135.6 million compared to net income of $64.7 million.
* Panera Bread announced that its preliminary, unaudited fourth-quarter revenue increased by 35% year-over year to $130.1 million. Net income for the period was approximately $14 million, also up 35% from the year-ago period. The chain’s system-wide same-store sales increased by 5.4% for the quarter.
* CRBL Group released its financial results for its second fiscal quarter of 2005, which closed on Jan. 28. The company’s revenue for the quarter was $667.2 million, an increase of 8.9% compared to the same period last year. Net income for the period was $32.6 million, up by 18.9%. Same-store sales at Cracker Barrel units grew by 3.2%, while Logan’s Roadhouse posted same-store sales growth of 4.4%.
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