News

CKE reports Q1 improvement from FY10

April 14, 2011

CKE Restaurants Inc., parent company of Carl’s Jr. and Hardee’s, reported results for the fourth quarter and full year fiscal 2011 ended Jan. 31. Numbers were dramatically improved from the same period a year ago, buoyed mostly by strong sales within the Hardee’s system.

Blended same-store sales increased 2.3 percent in Q4 2011. This is compared to end-of-year results for FY '10, when blended same-store sales were negative 6 percent.

During the quarter, Hardee’s same-store sales increased 5.7 percent, and Carl’s Jr. same-store sales declined 0.4 percent. Numbers have improved compared to the same period in Q4 '10, when Hardee’s numbers were down 2.5 percent and Carl’s Jr. sales were negative 8.7 percent.

Fiscal 2011 blended same-store sales declined 0.8 percent, compared to negative 3.9 percent in FY '10. Hardee’s same-store sales increased 4.4 percent, and Carl’s Jr. same-store sales declined 4.8 percent. This is compared to negative 0.9 percent and negative 6.2 percent from FY '10, respectively.

At the end of fiscal 2011, the 52-week average unit volume for Carl’s Jr. and Hardee’s were $1.3 million and $1.05 million, respectively.

“Hardee’s continued to generate strong same-store sales results during the fourth quarter. Including period 13, Hardee’s has now had 12 consecutive periods of positive same-store sales. Carl’s Jr. fourth quarter same-store sales results showed significant sequential improvement over the third quarter. We are pleased to have generated $37.1 million of Adjusted EBITDA in the fourth quarter,” said Andrew F. Puzder, CEO.

As of Jan. 31, CKE’s system-wide restaurant portfolio consisted of 3,159 total units, including 1,249 Carl’s Jr. restaurants and 1,899 Hardee’s restaurants. The company also owns La Salsa and Green Burrito.