May 11, 2005

Chain Update

McDonald’s, Darden and Smith & Wollensky are among the restaurant chains that announced significant financial news in recent days.

• McDonald’s reported that its global same-store sales results for the month of April increased by 2.8%. Same-store sales in the United States grew by 4.7%, while in Europe they fell by 0.7%. Global system-wide sales increased by 3.9%.
• Bob Evan’s Farms announced that its same-store sales results for the five weeks that closed on April 29 fell by 5.8% vs. the year-ago period. Same-store sales at its Mimi’s Café concept grew by 4.9% during the period.
• Darden Restaurants reported its same-store sales for the four-week period that closed May 1. Versus the same period a year earlier, sales at The Olive Garden grew by between 8% and 9%. The company said the increase is due to a 6% to 7% increase in guest counts and 2% to 3% higher average check. Same-store sales at Red Lobster grew by between 1% and 2%, reflecting a 0% to 1% increase in guest count and a 1% higher average check.
• Smith & Wollensky reported its same-store sales results for its fiscal month of April, which closed on May 2. The company’s same-store sales increased by 9.4% vs. the same period a year ago. Its total consolidated restaurant sales increased by 15.1% to $10.5 million.
• Domino’s Pizza announced financial results for its fiscal first quarter, which closed on March 27. The company’s total revenue increased by 16% to $369.7 million. Diluted earnings per share for the quarter reached $0.35, up from $0.26 from a year earlier. Domestic same-store sales increased by 11.2% vs. the year-ago period.

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