FlashNews - Chain Earnings Report

October 31, 2005

Chain Earnings Report

California Pizza Kitchen, O’Charley’s and P.F. Chang’s were among the chain operators to release financial news during the last week.

BJ's Restaurants Inc. reported revenues increased 45% to $47.6 million for its 2005 fiscal third quarter, which ended Oct. 4, 2005. The company also reported that comparable-store sales increased 5.5%. This represents the 36th consecutive quarter that BJ’s has reported same-store sales growth. The company also brought three new restaurants online in October, bringing the total to nine for the year. BJ’s plans call for it to open up to 11 stores in 2006.

For its third quarter ended Oct. 2, 2005, California Pizza Kitchen reported revenues increased 17.3% to $124.5 million compared to the same year-ago time frame. The company also reported same-store sales increased 7.1%.

Compared to the same period one year ago, Domino's Pizza announced global retail sales increased by 7.8% for third quarter ended Sept. 11, 2005. The company announced domestic same-store sales increased 1.1%, including a 4.2% increase posted by company-owned stores and 0.7% by franchised units.

For its fiscal third quarter, J. Alexander's Corp. reported operating income increased 52% on a net sales increase of 4.3%, when compared to the same year-ago period.

For its fiscal third quarter, O'Charley's reported revenue increased 5.7% to $211.8 million, compared to the same time one year ago. Same-store sales for the third quarter declined by 1.5% at O'Charley's restaurants, were flat at Ninety Nine Restaurant and Pub, and increased by 1.5% at Stoney River Legendary Steaks. The company also announced plans to close six underperforming O'Charley's restaurants, and to reduce development of new company-operated restaurants in 2006.

P.F. Chang's China Bistro Inc. reported earnings of $8.4 million for the third quarter ended Oct. 2, 2005, compared to $8.2 million for the third quarter of the prior year.

Tampa, Fla.-based Shells Seafood Restaurants reported a net loss of $152,000 for its fiscal third quarter ended Oct. 2, 2005. In comparison, the net loss for the third quarter ended Sept. 26, 2004, was $799,000. Revenues for the third quarter of 2005 increased 17.9% to $10,241,000 from $8,682,000 in the comparable period in 2004, primarily due to an increase in same-store sales of 10.0%. With all its restaurants located in Florida, hurricanes again adversely affected Shells during the third quarter, although much less directly than a year earlier.

For its third quarter ended Oct. 2, 2005, Wendy's reported a 5.1% increase in net revenue to $960.6 million, compared to the same period one year ago. The company said same-store sales decreased 5.0% at U.S. company units and 5.5% at U.S. franchised restaurants, compared to positive sales in the third quarter a year ago. Same-store sales were strong at Tim Hortons, with a 3.6% increase in Canada and a 4.7% increase in the United States. Baja Fresh Mexican Grill's system same-store sales declined 4.1%.