Recent Same-Store Sales Rundown

Weather seemed to be the common culprit cited by management explaining why same-store sales fell during the first part of 2007.

• Panera Bread: During the four-week period, company-owned bakery-café sales declined 1 percent and franchise-operated stores’ sales increased 0.2 percent.
• Frisch’s: Same-store sales declined 0.8 percent at Big Boy outlets, while Frisch’s Golden Corral restaurants posted a same store sales decline of 5.8 percent
• Mexican Restaurant’s, Inc. (Mexican Restaurants, Inc. currently has 80 company operated restaurants, 19 franchise restaurants and one licensed restaurant. We operate 6 different concepts, which include Casa Ole, Crazy Jose’s, Monterey’s Tex Mex Cafe, Monterey’s Little Mexico, Tortuga Mexican Kitchen and La Senorita. While a large majority of our restaurants are located in Texas, we also operate restaurants in Oklahoma, Louisiana, and Michigan.)
  • For fiscal year 2006, total system same-restaurant sales decreased 1.2%, Company-owned same-restaurant sales decreased 0.9% and franchise-owned same-restaurant sales decreased 1.9% from fiscal year 2005.
• Popeye’s Chicken & Biscuits:Total domestic same-store sales increased 1.6 percent compared to 3.3 percent in the prior year, and total global same-store sales increased 1.1 percent compared to 2.6 percent in the prior year. Company-operated same- store sales increased 9.0 percent, primarily driven by the re-opening of the New Orleans restaurants which were impacted by Hurricane Katrina.
• Carl’s Jr. Company operated same-store sales increased 4.9%, the seventh consecutive year of positive same-store sales for the brand.
• Hardee’s trailing 13 period average unit volume of $916,000 at the end of fiscal 2007 is a $42,000 increase over the level reported at the end of last fiscal year and the highest average unit volume for Hardee’s since 1995.
  • Hardee’s was also able to leverage its strong same-store sales to reduce restaurant operating costs. Hardee’s restaurant operating costs for the year were 81.9% of Company operated restaurant revenue, a 260 basis point improvement over the prior year and the best performance Hardee’s has posted in this decade. Lower food commodity costs and the leveraging of fixed and semifixed costs as a result of our higher same-store sales were the primary drivers behind Hardee’s performance. Like Carl’s Jr., Hardee’s achieved this year-over-year improvement despite the absence of favorable worker’s compensation adjustments compared to the prior year.

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