October 17, 2005

Earnings Report

Burger King, Frisch’s, McDonald’s and Panera Bread were among the chain operators to re-port fiscal operating results during the past week.

• Burger King Corp. announced U.S. same-store sales increased by 1.1% during the first quarter of its 2006 fiscal year. Two-year comp sales in the United States were up 9% system-wide.
• For its 16-week fiscal first quarter, which ended Sept. 18, 2005, Frisch's Restaurants reported sales increased 2.9% to $86,532,775 from $84,062,163 for last year's first quarter. Same-store sales at the company’s Big Boy Restaurants decreased 0.8% during that time, which the company said was the second straight quarter of modest declines. For the eighth consecutive quarter, the company’s Golden Corral restaurants posted a same-store sales decline of 11.2%.
• McDonald's Corp. announced that global sales for its name-brand restaurants rose 6.3% in September, and 6.0% in the third quarter.
• Panera Bread Co. reported revenue increased 30.6% to $148.6 million for the third quarter ended Oct. 4, 2005, from $113.8 million in the third quarter of 2004. System-wide comparable bakery-cafe sales increased 7.9% for the four weeks ended Oct. 4, 2005.
• Benihana Inc. announced a 7.9% increase in company-wide comparable sales for the 12-week second quarter ended Oct. 9, 2005. Total revenues increased 13.6%, to $54.3 million over the corresponding year-ago second fiscal quarter.
• Luby's Inc. announced fiscal 2005 fourth-quarter sales totaled $105.4 million, an increase of 13.8% compared to the fourth quarter of fiscal 2004. Same-store sales grew by 7.2% for the quar-ter.
• Cosi Inc. reported that restaurant revenues for the third quarter ended Oct. 3, 2005, were $30.8 million, compared to revenues of $28.2 million in the third quarter ended Sept. 27, 2004. Comparable restaurant sales in the third quarter of 2005 increased approximately 7.8% over the third quarter of 2004.
• Citing a negative effect as a result of higher gas prices, CKE Restaurants announced same-store sales for the four weeks ended Oct. 10, 2005, for Carl's Jr. and Hardee's together declined 3.2%. The company’s Carl’s Jr. concept recorded a sales decline of 1.8% for the period, while Hardee’s sales dropped 4.5%.
• Despite losing an estimated $3.0 million to $3.2 million in sales during the period to hurricanes Katrina and Rita, The Cheesecake Factory Inc. reported revenues for its fiscal third quarter ended Sept. 27, 2005, in-creased 18% to $292.8 million. Comparable restaurant sales increased 0.9% at The Cheesecake Factory and 3.8% at the Grand Lux Cafe.
• Papa John's International Inc. announced that domestic system-wide comparable sales for the five weeks ended Sept. 25, 2005, increased 3.4%. Sales at company-owned restaurants in-creased 8.2% increase and franchised units realized an increase of 1.9%. Domestic system-wide comparable sales for the third quarter ended Sept. 25, 2005, increased 3.9%. Papa John’s also an-nounced that approximately 150 franchise restaurants in the Gulf Coast region were closed for one or more days during the third quarter as a result of the impact of Hurricanes Katrina and Rita, and have either already reopened or are expected to reopen in October. An additional seven fran-chise restaurants were closed as a result of the impact of Hurricane Katrina and are not expected to reopen for an extended period of time.

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