June 27, 2005

Following is a summary of financial announcements from several chains including Darden, Sonic and Cracker Barrel.

Darden Restaurants reported full-year sales increased 5.5% to $5.3 billion for its fiscal year ending May 29. In the fourth quarter, sales increased 2.6% to $1.4 billion, which the company attributes to strong sales at Olive Garden and new restaurant growth at Smokey Bones. Excluding the additional operating week in the fourth quarter of last year, annual sales grew 7.4% and fourth-quarter sales grew 9.9% over the prior year.

Sonic Corp. reported a 19% increase in net income, which totaled $22.7 million, for its third fiscal quarter ending May 31, 2005. The company reported a 15% increase in total revenues to $67.7 million on system-wide same-store sales growth of 5.5%. The burger chain also reported opening 40 new Sonic Drive-Ins during the quarter, including 27 by franchisees.

For the four-week period ending June 24, Cracker Barrel reported a 3.3% increase in comparable store sales with a 4% higher average check, including 4.1% higher menu pricing. Comparable restaurant sales in the company's Logan's Roadhouse restaurants in June were up 1.9%, with an approximately 2.2% higher average check, including approximately 2.5% higher menu pricing.

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