April 4, 2005

Chain Update

Wendy’s, Outback Steakhouse and Panera Bread are among the companies that made significant financial or operational announcements in recent days.

Wendy’s International reported its same-store sales results for its March sales period, which closed on April 3. In the United States, company-owned Wendy’s restaurants reported a same-store sales decline of 5.1% vs. the year-ago period, while franchised units posted a drop of between 3.9% and 4.2%. Tim Hortons units in Canada posted a same-store sales increase of between 3.2% and 3.4%, while U.S.-based Tim Hortons increased their same-store sales by 5.5%.

Outback Steakhouse announced its same-store sales for the five weeks that ended March 26. Compared to the same period a year earlier, company-owned Outback units increased their same-store sales by 0.6%, while franchised or joint-ventured restaurants posted 1.9% same-store sales growth. System-wide Outback Units posted same-store sales growth of 0.8%. The company’s Carrabba’s Italian Grill concept grew its same-store sales by 7.4% during the period, while Bonefish Grills reported an overall same-store sales increase of 0.4%.

Panera Bread reported its same-store sales results for the four-week period that ended on March 22. Company-owned stores reported 6.8% growth in their same-store sales, while franchised units reported a 6.2% increase. System-wide same-store sales growth reached 6.4% for the period.

CKE Restaurants reported same-store sales results for two of its concepts for the four weeks that ended March 28. Same-store sales at Carl’s Jr. increased by 4.2%, but fell by 0.3% at the company’s Hardee’s stores.

Famous Dave’s of America announced two new development agreements covering eight new stores. JP’s Bar-B-Que purchased the right to franchise five restaurants in Charlotte, Collier and Lee counties in southwest Florida. JP’s is based in Fort Myers, Fla., and is owned by Jim Gyarmathy. REX Inc., owned by Forrest “Rex” Donahue and Barbara Donahue and based in Barboursville, W. Va., purchased the rights to open three Units in West Virginia.

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