August 8, 2005

Chain Update

McDonald’s, Darden and Denny’s are among the chain restaurants that announced significant financial or operational news in recent days.

Benihana revealed plans to open two new RA Sushi restaurants: one in Glenview, Ill., a Chicago suburb; and one in Tustin, Calif., near Newport Beach. The restaurants are expected to open in the spring and winter of 2006, respectively.

McDonald’s reported that its July global system-wide sales grew by 6% in constant currencies compared to the same period a year earlier. Global same-store sales increased by 4.9%. Same-store sales in the United States increased by 4.9%, as well.

Darden Restaurants released its same-store sales for the four-week period that ended on July 31. The company’s Red Lobster chain posted a same-store sales increase of 4%. Guest counts increased by 1% to 2% during the period, while the check average grew by between 2% and 3%. Oliver Garden reported a 3% to 4% increase in same-store sales during the month, reflecting a 0% to 1% increase in guest counts and a 2% to 3% higher average check.

Denny’s announced that its same-store sales for the four weeks that closed July 27 increased by 1.6% vs. the year-ago period. The average guest check during this time grew by 4.3%, while guest counts declined by 2.6%.

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