FlashNews - Chain Operating Report

February 27, 2006

Chain Operating Report

Applebee’s, Denny’s and Red Robin are among companies reporting operating results.

American Restaurant Group reported same-store sales for its Black Angus Steakhouse chain declined 2.9 percent for the fiscal year ending Dec. 26, and also declined 2.2 percent for the fourth quarter ending the same date.

For the four-week period ending Feb. 19, Applebee’s International Inc. reported systemwide, domestic comparable sales rose 0.1 percent, of which domestic franchise sales increased 0.7 percent and company restaurant sales declined 1.5 percent.

Back Yard Burgers announced same-store sales rose 0.2 percent for company-owned restaurants and decreased 1.2 percent for franchised units for the fourth quarter ending Dec. 31. For the 2005 fiscal year ending Dec. 31, comparable sales decreased 1.8 percent for company-owned restaurants and decreased 2.2 percent for franchises.

BJ’s Restaurants reported revenues increased 30 percent to $49.3 million for the fourth quarter ending Jan. 3. For the fiscal 2005 year ending that date, revenues increased 38 percent to $178.2 and comparable sales increased 4.6 percent.

CBRL Group reported same-store sales for its Cracker Barrel restaurants decreased 1.4 percent during the four-week period ending Feb. 24. Comparable sales for Logan’s Roadhouse increased 2.3 percent during the four-week period.

Denny’s Corp. announced same-store sales increased 1.7 percent for company units and 4 percent for franchised stores during the fourth quarter ending Dec. 28. For the 2005 fiscal year ending Dec. 28, sales for company units increased 3.3 percent and 5.2 percent for franchised units. Revenues grew 16 percent to $12.2 million for the quarter and 1.9 percent to $978.7 million for the year.

Domino’s Pizza reported revenues decreased 4.4 percent and comparable sales for its domestic, company-owned restaurants were up 3.3 percent for the fourth quarter ending Jan. 1. For domestic franchises, comparable sales rose 1.5 percent and for international stores, sales rose 3.8 percent. For the 2005 fiscal year, comparable sales increased 7.1 percent for domestic, company-owned stores, 4.6 percent for franchises and 6.1 percent for international stores.

IHOP Corp. reported a decrease of 4.9 percent in net income, or $10 million, for the fourth quarter ending Dec. 31, although net income for the fiscal year ending that date rose 31.5 percent, $43.9 million. Systemwide, same-store sales increased 5.4 percent for the fourth quarter and 2.9 percent for the year.

Jack in the Box reported same-store sales increased 5.5 percent for the first quarter ending Jan. 22. Same-store sales for Qdoba Mexican Grill rose 7.9 percent for the quarter.

Landry’s Restaurants Inc. reported same-store sales for the company, excluding the gaming division, rose 1.7 percent for the fourth quarter ending Dec. 31. Revenues for the fiscal year ending that date totaled $1.3 billion compared to $1.2 billion for 2004.

New World Restaurant Group Inc., owner of Einstein Bros. and Noah’s New York Bagels, said revenues increased 6.8 percent, $103.9 million, and same-store sales rose 3.9 percent for the fourth quarter ending Jan. 3. For the 2005 fiscal year ending that date, revenues increased 4.1 percent to $389.1 million and same-store sales increased 5.2 percent.

Red Robin reported total revenues increased 19.4 percent, $116.5 million, and comparable sales increased 2.7 percent for the fiscal fourth quarter ending Dec. 25. For the 2005 fiscal year ending the same date, total revenues increased 20.5 percent to $486 million and comparable sales rose 3.9 percent.

Ruth’s Chris Steak House Inc. announced total revenues increased 11.7 percent, $58 million for the fourth quarter ending Dec. 25. Same-store sales increased 8.5 percent for company restaurants and 8 percent for franchised units.

Shells Seafood Restaurants Inc. reported revenues rose 5.5 percent and same-store sales increased 4.5 percent for the fourth quarter ending Jan. 1. For the fiscal 2005 year, both revenues and same-store sales rose 7 percent.

Star Buffet Inc., operator of HomeTown Buffet, JB’s and BuddyFreddys restaurants, announced it acquired Texas-based K-BOB’s Steakhouse. As a result of the acquisition, Star Buffet currently operates four K-BOB’s restaurants.

Texas Roadhouse Inc. announced total revenues rose 21 percent for the fourth quarter ending Dec. 27. Comparable sales rose 3.6 percent for company restaurants and 1.6 percent for franchises during that period.