March 28, 2005

Chain Update: Yum, Darden and Others

Following is an overview of several announcements made by chain operators

Yum! Brands announced its estimated sales for the first quarter. International Division system sales increased by 7% prior to currency conversion, while system sales for the company’s China Division increased by 26%. The company’s U.S. blended same-store sales increased by 4% during the quarter.

Darden Restaurants reported its sales results for its fiscal third quarter, which closed on Feb. 27. The company’s total sales grew by 10.8% vs. the year ago period to $1.38 billion. Net earnings were $92.6 million, up from $77.1 million a year ago.

Granite City Food & Brewery released its financial results for the fourth quarter and fiscal year, both of which closed on Dec. 28, 2004. The company’s total revenue for the year was approximately $30.8 million, up by 117% from the year before. Net loss for the year was $725,181 vs. a net loss of approximately 1.5 million in 2003. For the quarter, revenue reached $8.1 million vs. $4.7 million a year earlier. Granite City reported a fourth-quarter net loss of $273,848 compared to a net loss of $665,363 for Q4 2003.

CRBL Group reported its same-store sales for the four-weeks that ended on March 25. The company’s Cracker Barrel concept posted a 3.5% increase in restaurant sales vs. the year-ago period. Logan’s Roadhouse restaurants posted a 3.2% increase in same-store sales.

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