September 19, 2005

Chain Update

Panera Bread and CKE are among the restaurant chains that announced significant financial or operational news in recent weeks.

Panera Bread announced that its system-wide same-store sales increased by 7.8% for the four-week period that closed Sept. 6. Company-owned units increased their same-store sales by 7.7%, while franchised stores announced a 7.9% increase.

CKE Restaurants reported that same-store sales at its Carl’s Jr. concept fell by 1.7% during the four weeks that closed on Sept. 12, while same-store sales at Hardee's declined by 5% during the period.

Jack in the Box lowered its fourth-quarter same-store sales guidance to an increase of 1.5% from the 3% growth it had earlier forecasted. The company attributed the decreased expectations to lower-than-expected sales of its Ultimate Club premium sandwich and higher gas prices. The company also announced that it is discontinuing tests of its JBX Grill fast-casual burger and sandwich concept.

AFC Enterprises announced that its same-store sales increased by 0.9% for the four-week period that ended on Aug. 7 and by 1.1% for the period that ended on Sept. 4. The company also said that there are 43 Popeyes restaurants still closed as a result of Hurricane Katrina.

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