Carl's Jr., Hardee's comps up in Q4
March 29, 2007
CARPINTERIA, Calif. — Same-store sales for CKE Restaurants Inc.'s Carl's Jr. brand rose 4.9 percent for the 2007 fiscal year ended Jan. 29, while comps at the company's Hardee's brand rose 4.8 percent.
Fourth-quarter comps for the Carl's Jr. brand rose 2.8 percent, while Hardee's fourth-quarter comps rose 4.8 percent.
CKE recorded revenue of $359 million for the fourth quarter, up 3 percent compared with revenue of $348.5 million for the previous year. Revenue at company-operated Carl's Jr. stores decreased $2.1 million, primarily due to the refranchising of 38 stores in the Oklahoma region.
Revenue from company-operated Hardee's restaurants increased 11 percent to $14 million, partly due to the purchase of 53 franchised units in the Georgia market
For the year, CKE's revenue was $1.6 billion, up 7 percent compared to revenue of $1.5 billion for fiscal 2006.
CKE's fourth-quarter net income was $10.3 million compared with net income of $140.9 million in the fiscal 2006 fourth quarter. For the year, CKE's net income was $50.2 million compared with net income of $181.1 million in fiscal 2006.
Fiscal 2006 earnings were boosted by a $125.6 million tax benefit.
As of the end of the 2007 fourth quarter, CKE Restaurants Inc. operated a total of 3,105 franchised or company-operated restaurants in 43 states and in 13 countries, including 1,087 Carl's Jr. restaurants, 1,906 Hardee's restaurants and 96 La Salsa Fresh Mexican Grill restaurants.
