May 30, 2005

Chain Update

Outback, CKE and Panera Bread are among the chain restaurants that announced significant financial or operational news in recent weeks.

Outback Steakhouse Inc. announced its same-store sales results for the four weeks that ended on May 22. Outback units posted a 1.5% increase in same-store sales, comprised of a 1.5% same-store sales increase from company-owned units and a 3.8% increase from franchised stores. Same-store sales at Carrabba’s Italian Grills grew by 10.4%, while Bonefish Grills posted a 5% same-store sales increase.

CKE Restaurants announced selected same-store sales results for the four weeks that closed on May 23. Carl’s Jr. units posted a 1.5% same-store sale increase vs. the year-ago period. Hardee’s restaurants reported a same-store sales decline of 1% during the period.

CRBL Group announced its same-store sales for the four-week period that ended May 27. Same-store sales at Cracker Barrel Old Country Store units increased by 7.1% vs. the year-ago period. Same-store sales at the company’s Logan’s Roadhouse concept grew by 2.6% during the period.

Papa John’s International released its same-store sales for the four-week period that closed on May 22. Same-store sales at company-owned units grew by 4.7% vs. the year-ago period, while franchised stores posted an increase of 3.3%. Overall same-store sales grew by 3.7%.

Panera Bread announced a development deal with new franchise group Pangenera, LLC. The agreement calls for Pangenera to open 15 new Panera units in California’s San Mateo, Santa Cruz and Santa Clara counties by 2010.

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