News

CKE reports increased comps, falling profit

March 26, 2008

CARPINTERIA, Calif. — Same-store sales at CKE Restaurants Inc. increased while profits fell during fiscal 2008 and the fourth quarter ended Jan. 28, 2008.

For the year, same-store sales increased 0.9 percent at Carl's Jr. and 2 percent at Hardee's company-operated restaurants. For the quarter, same-store sales increased 1.4 percent at Carl's Jr. and 0.4 percent at Hardee's company-operated restaurants, compared to the prior year quarter.

Consolidated revenue for the current year was $1.53 billion, a 0.5-percent decrease from the prior year. Company-operated restaurants revenue for the current year was $1.2 billion, a 1.9-percent decrease from the prior year. Franchised and licensed restaurants and other revenue increased 5.1 percent.

Consolidated revenue for the current year quarter was $338.1 million, a 3.2-percent decrease from the prior year quarter. Company-operated restaurants revenue for the current year quarter was $259.9 million, a 6.5-percent decrease from the prior year quarter. Franchised and licensed restaurants and other revenue increased 10 percent.

Fiscal 2008 net income was $31.1 million, versus $50.2 million in the prior year. Fourth-quarter net income was $0.1 million, compared with $10.3 million in the prior year quarter.