(RTTNews) - Wednesday, CKE Restaurants, Inc.
(CKR), an operator of quick-service restaurants reported an improvement in period two same store sales. The blended same store sales were boosted by 6% increase in Carl's Jr. brand comps. Hardee's reported a decline of 2.1% in same store sales.
The Carpinteria, California-based company said, blended same store sales increased 2.4% in March 2009. The prior year increase was 2.1%.
Same stores sales from the Carl's Jr., brand increased 6%. The increase in same store sales for Carl's Jr., brand was 1.2% for the same period a year go. Same store sales from Hardee's segment declined 2.1% in March fiscal 2009. There was 2.9% increase in same store sales from Hardee's segment a year ago.
The year to date blended same store sales increased 1.9% this year, while the year ago increase was 0.7%. The year to date same store sales from the Carl's Jr., increased 3.8% this year. The decline in same stores from the Carl's Jr., was 0.8% last year. The year to date same store sales from the Hardee's segment declined 0.2%. There was 2.2% increase in Hardee's same store sales a year ago.
For the period two, the company reported an approximate total consolidated revenues of $92.1 million, which included revenues of $50.9 million from Carl's Jr. segment and revenues of $41.2 million from Hardee's segment.
Commenting on the decline in hardee's same store sales, Andrew Puzder, President and Chief Executive Officer of CKE Restaurants said, 'Hardee's continued to be hampered by very inclement weather in the Midwest and Southeast making it difficult to tell what impact, positive or negative, pricing and the economy may be having on its sales. The Easter holiday falling in period two this year versus period three last year negatively impacted both brands by approximately one percent, partially offset by the early spring break week leading up to Easter.'
CKR is currently trading at $12.30, up 0.30 or 2.50% on a volume of 121,500 shares on the NYSE.
For comments and feedback: contact editorial@rttnews.com