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Triarc full year, Q4 ‘07 comps decline
March 2, 2008
ATLANTA — Triarc Companies Inc., the franchisor of Arby's, recently announced systemwide same-store sales decreased 2 percent in both the 2007 fiscal year and the 2007 fourth quarter ended Dec. 30, compared with an increase of 3 percent in the 2006 fiscal year and 1 percent for the 2006 fourth quarter.
Same-store sales for franchised restaurants increased 1 percent for the 2007 fiscal year and 2 percent for the 2007 fourth quarter, compared with the same periods in 2006.
Revenues for the company declined in the fourth quarter to $320.6 million, down 3 percent from revenues of $332 million in the 2006 fourth quarter. For the year, revenues were $1.3 billion, up 8 percent from revenues of $1.2 billion the previous year.
Net income for the fourth quarter was $16.1 million compared with a loss of $10.9 million in the 2006 fourth quarter. For the year, net income was $33.3 million compared with a loss of $2.1 million in 2006.
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