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Carl's Jr., Hardee's parent reports Q2 gain
September 17, 2008
CARPINTERIA, Calif. — CKE Restaurants Inc., parent company of the Carl's Jr. and Hardee's brands, has announced that income is up 31 percent over last year for the second quarter ended Aug. 11, 2008. Rising commodity costs were offset by a reduction in payroll and employee benefits costs, according to a press release.
Comparable sales at company-operated stores for both brands were up 3.6 percent for the quarter. Same-store sales increased 3.8 percent at Carl's Jr. company-operated restaurants and 3.3 percent at Hardee's.
Revenue for the quarter was $352.4 million, down 3 percent from $363 million in the same period last year. Year-to-date revenue also was down 3 percent at $818.7 million compared to $844.9 million last year.
Net income for the quarter was $12.3 million, an increase of 31 percent compared to $9.4 million in the same period last year. Year-to-date net income was up 17 percent at $29 million compared to $24.8 million last year.
Period 8 also released
CKE also announced comps for period eight ended Sept. 8. Blended same-store sales were up 0.4 percent, with Carl's Jr. comps down 0.1 percent and Hardee's up 1.1 percent, compared to blended comps up 2.3 percent for the same period last year. Year-to-date blended comps are up 2.3 percent, compared to 1.7 percent last year. Carl's Jr. comps are up 3.4 percent for the year, with Hardee's up 1 percent.
Period eight sales at Hardee's were impacted by the remnants of Hurricanes Gustav and Hanna and Tropical Storm Fay.
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