News
Fatburger parent Q2 loss narrowing
August 10, 2008
PORTLAND, Ore. — Fog Cutter Capital Group Inc., which operates Fatburger restaurants as well as manufacturing and real estate operations, has reported a net loss for the second quarter ended June 30, 2008.
Fatburger systemwide comparable-store sales were down 2.8 percent for the quarter, with year-to-date comps down 5.3 percent.
Fog Cutter revenues for the quarter were $11.7 million, up 15 percent from $10.2 million in the same period last year. Year-to-date revenues were $22.5 million, up 9 percent from $20.7 million for the same period last year.
The company's net loss for the second quarter was $4.4 million, a 29 percent difference compared with a $3.4 million loss in the same quarter last year. The year-to-date net loss was $4.8 million, compared with a $7.1 million loss for the same period last year.
Fatburger has 96 restaurants in 15 states, Canada, and one in China. Franchisees own and operate 56 of the Fatburger locations.
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