Nathan's Famous Inc. reported its results for the second quarter ended Sept. 23, including a revenue increase of nearly 12 percent compared to last year.
Revenues from franchise operations were $2,938,000 during the during the 26 weeks ended Sept. 23, as compared to $2,855,000 during the same period last year. This was in part driven by the 23 new franchised units that were opened during that time, including the debut of Nathan's two mobile trucks, as well as its sixth restaurant in the Dominican Republic and 12 Branded Menu Program outlets.
Nathan's also executed two Master Development Agreements comprising the Republic of Turkey, including the Turkish Republic of Northern Cyprus and Mexico City, Mexico.
In April 2012, the company opened our newly relocated seasonal restaurant on the Boardwalk in Coney Island, N.Y.
Also during Q2, net income was up more than 25 percent versus Q2 2011.
The Company also reported the following:
- Sales from the Branded Product Program, featuring the sale of Nathan's hot dogs to the foodservice industry, increased 12.5 percent.
- Gross profit increased to 23.9 percent of sales during the 26 weeks ended Sept. 23, 2012, as compared to 22 percent of sales during the same period in 2011 due primarily to improved margins from the Branded Product Program.
- Retail license royalties increased 18.5 percent versus last year.
Read more about operations management.
User Comments