August 1, 2005

Chain Update

Outback, Brinker and Wendy’s are among the chain restaurants that announced significant financial or operational news in recent days.

Brinker International named Wyman Roberts president of its Maggiano's Little Italy concept. Roberts previously served as executive vice president and chief marketing officer for NBC's Universal Parks & Resorts. He is also a 16-year veteran of Darden Restaurants. He replaces Mark Tormey. In June, Tormey announced plans to leave Brinker to spend more time with his family in Chicago. He has remained with the company during the search and will assist with the leadership transition.

CBRL Group reported that same-store sales at its Cracker Barrel concept for the five weeks that closed July 29 grew by 2.5% vs. the year-ago period. The company’s Logan’s Roadhouse chain posted an 1.6% increase in same-store sales.

Outback Steakhouse announced its same-store sales for the four-week period that closed on July 23. Outback units reported a 1.2% decline in system-wide same-store sales. Company-owned stores posted a 1.3% decline, while franchised or joint-ventured units reported 0.6% fall in same-store sales. The Carrabba’s Italian Grill concept posted a 6.8% same-store sales increase, while Bonefish grills reported 4% same-store sales growth.

Applebee’s International posted earnings of $27.5 million for the quarter that closed on June 26, down from the $28.1 million in earnings reported for the year-ago period. Total operating revenue for the quarter reached $306.6 million, up from 281.9 million, while the chain’s system-wide sales increased by 8% vs. the prior year.

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