The first of more than 100 Carl's Jr. restaurants in Shanghai, China, has opened, parent company CKE Restaurants Inc. has announced. As announced last June, additional units in China are planned in the municipalities of Beijing, Shanghai and Tianjin and the provinces of Zhejiang and Jiangsu over the next eight years.
In China, Carl's Jr. is operated by Star Food F&B Management Co. Ltd., a joint venture between SGX-listed BreadTalk Group Ltd., a leading lifestyle food and beverage group, and Aspac F&B International Pte Ltd., the current Carl's Jr. franchisee in Singapore and Malaysia.
CKE Restaurants' entry into China is part of a strategic plan to accelerate franchise development in international markets and grow the system as a whole. The new restaurant opening in Shanghai is part of the first phase in the company's expansion efforts in China where it sees potential for more than 1,000 restaurants over time.
CKE licenses 332 international restaurants between both its Carl's Jr. and Hardee's brands, and plans to double its international presence to more than 665 restaurants within the next five years.
"This is a very exciting development for our company since China represents a tremendous growth opportunity," said E. Michael Murphy, president of CKE Restaurants Inc., in a news release. "Our strong success in other Asian countries proves that the market is ready for them."
Second quarter results release
In unrelated news, CKE Restaurants has announced that the company will release its results for the second quarter Sept. 16, after market close.
Management will hold a conference call the following morning, Sept. 17, at 6 a.m. Pacific time (9 a.m. Eastern). The dial-in number is (617) 213-8838 for the United States and international, and the access code is 86163618.
The conference call may also be accessed via the company's Web site under "Investors." A replay will be made available one hour after conclusion of the live event and remain available for 30 days and can be accessed by calling (617) 801-6888 under access code 68994499 or online via the company's Web site under "Investors/Webcast."
