CKE Restaurants, Inc. (NYSE: CKR) announced today period five company-operated same-store sales for the period ended June 14, 2010, for Carl’s Jr.® and Hardee’s®.
| Brand | Period 5 | Year to Date | ||||||||||
| FY 2011 | FY 2010 | FY 2011 | FY 2010 | |||||||||
| Carl’s Jr. | -5.3 | % | -7.1 | % | -5.9 | % | -5.5 | % | ||||
| Hardee’s | +4.1 | % | -2.7 | % | -0.1 | % | +1.4 | % | ||||
| Blended | -1.1 | % | -5.2 | % | -3.4 | % | -2.5 | % | ||||
“Hardee’s same-store sales grew nicely and delivered the fourth straight period of positive results fueled by the introduction of Hand-Breaded Chicken Tenders into much of the system, the continuing strong sales of the Grilled Cheese Bacon Thickburger and strong sales at breakfast. However, Carl’s Jr. same-store sales continued to be negatively impacted by the poor economic conditions and high unemployment rates in our core California market,” said Andrew F. Puzder, Chief Executive Officer. “We continue to focus on the excellent value-for-the money of our premium products and combo meals, and have several new initiatives in the works to improve same-store sales and increase market share.”
Period Five Revenue Trends
For period five, consolidated revenue from company-operated restaurants (exclusive of all franchise-related revenue and royalties) was approximately as follows:
| Brand | Period 5 | Year to Date | ||||||||||
| ($ in millions) | FY 2011 | FY 2010 | FY 2011 | FY 2010 | ||||||||
| Carl’s Jr. | $ | 45.1 | $ | 47.2 | $ | 227.4 | $ | 239.3 | ||||
| Hardee’s | $ | 39.4 | $ | 38.0 | $ | 188.0 | $ | 189.0 | ||||
| Total | $ | 84.5 | $ | 85.2 | $ | 415.4 | $ | 428.3 | ||||
For period five, trailing-13 period average unit volume from company-operated restaurants was as follows:
| Brand | Period 5 | |||||
| ($ in thousands) | FY 2011 | FY 2010 | ||||
| Carl’s Jr. | $ | 1,407 | $ | 1,499 | ||
| Hardee’s | $ | 1,005 | $ | 1,008 | ||
| Blended | $ | 1,194 | $ | 1,234 | ||
Safe Harbor Disclosure
Matters discussed in this press release contain forward-looking statements relating to the Company's strategic initiatives to grow same-store sales and increase market share, which are based on management's current beliefs and assumptions. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company’s control. Factors that could cause the Company’s results to differ materially from those described include, but are not limited to, the Company’s ability to compete with other restaurants, delicatessens, supermarkets and convenience stores for customers, employees, restaurant locations and franchisees; the effect of restrictive covenants in the Company’s credit facility on the Company’s business; changes in consumer preferences, perceptions and spending patterns; the ability of the Company’s key suppliers to continue to deliver quality products to the Company at moderate prices; the Company’s ability to successfully enter new markets and complete remodels of existing restaurants; changes in economic conditions which may affect the Company’s business and stock price; the Company’s ability to attract and retain key personnel; the Company’s franchisees’ willingness to participate in the Company’s strategy; the operational and financial success of the Company’s franchisees; changes in the price or availability of commodities; the effect of the media’s reports regarding food-borne illnesses, food tampering and other health-related issues on the Company’s reputation and its ability to obtain products; the seasonality of the Company’s operations; the Company’s ability to hire and retain qualified personnel and the effect of higher labor costs; increased insurance and/or self-insurance costs; the Company’s ability to comply with existing and future health, employment, environmental and other government regulations; the completion and timing of the proposed merger; and other factors as discussed in the Company’s filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the New York Stock Exchange.
CKE Restaurants, Inc.
Headquartered in Carpinteria, Calif., CKE Restaurants, Inc. is publicly traded on the New York Stock Exchange under the symbol “CKR.” As of the end of its first quarter of fiscal 2011, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,146 franchised, licensed or company-operated restaurants in 42 states and in 16 countries, including 1,233 Carl's Jr. Restaurants and 1,901 Hardee's restaurants. For more information about CKE Restaurants, please visit www.ckr.com.
Contacts:
Investor Relations
805-745-7750
