News
CKE comps on the rise
June 27, 2007
CARPINTERIA, Calif. — Same-store sales for CKE Restaurants Inc.'s Carl's Jr. brand rose 2.8 percent in the four weeks ended June 18, while comps at the company's Hardee's brand rose 2.6 percent for the same period.
Year–to-date comps for Carl's Jr. rose 0.5 percent, while Hardee's comps rose 2 percent, the company announced.
The company also released earnings for the first quarter of fiscal 2008, ended May 21.
Net income for the quarter was $15.4 million, off 5 percent compared with net income of $16.2 million for the first quarter of fiscal 2007.
Revenues for the quarter were $481.8 million, up 1.6 percent compared with revenues of $474 million for the same period last year.
CKE also operates the Green Burrito, Red Burrito and La Salsa restaurant chains. The company announced earlier this year it planned to sell the La Salsa chain.
"This transaction will allow us to direct our resources and focus on growing our burger brands as well as expanding our dual-branded Mexican concepts," said Andrew F. Puzder, president and chief executive officer. "We expect to close on the sale of La Salsa during the second quarter of fiscal 2008."
Related Media
Subscribe
Get the latest news and resources from QSR Web.
