November 7 , 2005

Chain Earnings Report

CBRL, Darden, McDonald’s and Smith & Wollensky were among the operators to release financial news over the past week.

• For the five-week period ended Oct. 28, 2005, CBRL Group reported same-store sales for its Cracker Barrel Old Country Store concept decreased 0.1% compared to the same year-ago time frame. Comparable restaurant sales in the company's Logan's Roadhouse restaurants were up 0.8% for the period.
• Darden Restaurants reported same-restaurant sales results for the four-week October fiscal month ended Oct. 30, 2005, which represents the second month of Darden's fiscal 2006 second quarter. Same-restaurant sales at Olive Garden increased 8% to 9%, compared to 6% to 7% in the previous year. Same-restaurant sales at Red Lobster increased 2% to 3% for fiscal October, compared to 9% to 10% during the same year-ago period. The company estimates that Hurricane Wilma adversely affected October same-restaurant sales at both Red Lobster and Olive Garden by approximately 0.5% and that the total sales impact to Darden was $1.0 to $1.5 million.
• Denny's Corp. reported a 2% increase in same-store sales for its company-owned restaurants during the four-week month ended Oct. 26, 2005, compared with the related period in fiscal year 2004.
• Famous Dave’s of America announced total revenue for its third quarter ended Oct. 2, 2005, increased 1.2% over the previous year. The chain also reported that comparable sales for company-owned restaurants were relatively flat compared to the prior year.
• Landry’s reported revenues for its quarter ended Sept. 30, 2005, totaled $319.5 million, as compared to $314.4 million a year earlier. The company reported that quarterly revenues were adversely impacted by two hurricanes, Katrina and Rita. The former destroyed one restaurant in Biloxi, Miss., and resulted in closing two restaurants in New Orleans through the end of the quarter. The evacuations associated with Hurricane Rita impacted the revenues of 66 restaurants for a period of approximately 10 days, according to company estimates. Landry’s estimates that the combined revenue loss for these two storms during the third quarter will fall between $5.0 million and $5.5 million.
• McDonald's Corp. announced that comparable sales for McDonald's restaurants worldwide increased 3.4% in October. Systemwide sales for McDonald's restaurants rose 3.9% for the month.
• Papa John's International announced domestic same-store sales increased 3.9% for the third quarter. For the month of October, Papa John’s reported domestic same-store sales increased 5.9%.
• For its fiscal third quarter, Red Robin Gourmet Burgers reported revenues reached $114.2 million, up 16.2% compared to the previous year. Company-owned same-store sales increased 2.1% over the previous year.
• Smith & Wollensky announced consolidated restaurant sales for the fiscal month of October 2005 were approximately $9.4 million, representing a 12.8% decrease from October 2004. For the fiscal month of October, comparable consolidated restaurant sales decreased 7.6% to $8.6 million, as compared to the $9.3 million for October 2004.

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