NEW YORK — Triarc Companies Inc. announced today the results of operations for its first quarter ended April 1, 2007.
Systemwide same-store sales were down 1 percent in the 2007 first quarter versus an increase of 4 percent for the same time last year. Same-store sales for company-owned restaurants decreased 2 percent in the 2007 first quarter. The company says the decrease primarily reflects the effects of poor weather and the continued underperformance of company-owned stores in the economically-weaker Michigan and Ohio regions.
First quarter 2007 comps for franchised restaurants decreased 1 percent, compared with a 5 percent increase in the 2006 first quarter.
Revenues increased to $302 million in 1Q '07 compared with 2006 first quarter revenues of $292 million.
Net income was $7.1 million in the 2007 first quarter, compared with a loss of $(12.8) million, or in the 2006 first quarter.
Net sales from company-owned Arby's restaurants were $266.5 million in the 2007 first quarter, compared with $258.8 million in the 2006 first quarter. The increase reflects the addition of 44 net company-owned restaurants since April 2, 2006.
In the 2007 first quarter, the Arby's system opened 32 new units and closed 11. As of April 1, 2007, Arby's had commitments from franchisees to build 338 new units through 2013.
