February 28, 2005

Chain Update: Applebee’s, Outback and Others

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

Applebee’s International reported its same-store sales results for the four-week period that closed on Feb. 20. Systemwide, same-store sales increased by 5.2%. Company-owned units increased their same-store sales by 2.3% during the period, while same-store sales at franchised restaurants grew by 6.2%.

Outback Steakhouse Inc. released is same-store sales results for the four-week period that ended on Feb. 19. Sales at Outback units were flat compared to the year-ago period. The company’s Carrabba’s Italian Grills concept grew its same-store sales by 3.8% year-over-year, while same-store at Bonefish Grills increased by 2.6%.

Yum! brands announced its same-store sales for its fiscal month of February. U.S. company-owned stores grew their combined same-store sales by 4% during the period. Sales increased by 7% at Taco Bell, 2% at Pizza Hut and 3% at KFC.

CRBL Group reported its same-store sales results for the four-week period that ended on Feb. 25. Cracker Barrel Old Country Stores reported an increase of 2.8% compared to the year-ago period, while Logan’s Roadhouse posted a 1.6% same-store sales increase.

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