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Einstein Noah (BAGL)

Einstein Noah reported preliminary results for the 13-week period ending December 29, 2009. Total revenues were virtually flat at approximately $103.7 million compared to $103.9 million in the fourth quarter of 2008. System-wide comparable store sales showed sequential improvement in the latest quarter. Comparable store sales decreased 1.5%, with a 1.1% decline in transactions, while Company-owned comparable store sales decreased 1.8%, including a 1.6% decline in transactions. Based upon these top-line results, as well as the Company's expectations for an improvement in gross margins, the Company expects fourth quarter 2009 EBITDA of between $12.6 and $12.9 million. Excluding any possible impairments, the Company expects diluted EPS of between $0.22 and $0.23.
Jeff O'Neill, CEO and President of Einstein Noah, stated, "We were pleased to end 2009 on a 'high note' with what we consider to be strong preliminary quarterly results, including our best comparable store sales and transaction performance of the year in what continues to be a challenging consumer spending environment. We are proud of our ability to increase our cash flow generation and our commitment to deploying capital in a manner that can lead to long term value creation. As we move into 2010, we look forward to building upon our accomplishments as we position ourselves for an even brighter future."

Jan 12 · 7:07:00 AM · Source: Company Press Release
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by Rich Pike

Peet's Coffee & Tea (PEET)

StreetInsider.com is reporting that Peet's Coffee & Tea President and CEO, Pat O'Dea, has said that he sees 20-25% EPS growth with the recent Diedrich acquisition, or FY10 EPS of $0.80-$0.90. The Street is currently looking for FY10 EPS of $1.27. O'Dea also said he sees 15-20% market share in the Specialty category and expects to triple profitability in the Grocery segment.
That's a large discrepancy between the Street's expectations and the company's. At a closing price of $33.69 last night, the stock is selling at a frothy PE of 35.

Jan 12 · 7:01:00 AM · Source: StreetInsider.com
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by Rich Pike

BJ's Restaurants (BJRI)

Restaurant News is reporting that BJ’s Restaurants Inc. plans to maintain its focus as a premium casual-dining destination with a lower average check to garner favor with consumers who are tired of older casual dinnerhouses, but still want value.
Last week, BJ's reported preliminary fourth-quarter results that included a 13.4-percent rise in revenue to $112.6 million. Same-store sales declined 0.2 percent for the Dec. 29-ended quarter, compared with a 0.7-percent drop a year ago. For the full fiscal year, BJ’s said revenue increased 14.1 percent, to $426.7 million, as the year-over-year number of restaurants grew to 92, versus 82 in fiscal 2008. Full-year same-store store sales fell 0.8 percent, compared with a decrease of 0.3 percent in 2008. The company expects guest traffic in 2010 to remain under pressure, and post-recession same-store sales to grow between 1 percent and 3 percent annually.

Jan 12 · 6:54:00 AM · Source: Restaurant News
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by Rich Pike

McDonald's (MCD)

Don Thompson, currently President of McDonald USA, has been elected to the role of President and Chief Operating Officer, with oversight responsibility for the company’s 32,000 restaurants worldwide. In addition, the company announced the promotions of Jan Fields, currently EVP Executive Vice President and Chief Operations Officer for McDonald’s USA, to succeed Thompson as President of McDonald’s USA, and Jim Johannesen, currently U.S. Division President—Central Division, to succeed Fields as EVP and Chief Operations Officer for McDonald’s USA.
Thompson, 46, began his McDonald’s career in 1990 as an engineer in the Restaurant Systems Group. He moved into restaurant operations four years later, and rose quickly through the operations ranks. He was named Regional Manager of the San Diego Region in 1998, and was promoted to Regional Vice President a year later. In 2000 he was named President of the Midwest Division of McDonald’s USA, and in 2001 was appointed President of the company’s West Division. In 2004, he returned to Oak Brook as EVP of McDonald’s Restaurant Systems Group. A year later he was promoted to EVP and Chief Operations Officer for McDonald’s USA, and in 2006 was named President of McDonald’s USA.

Jan 12 · 6:50:00 AM · Source: Company Press Release
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by Rich Pike

AFC Enterprises (AFCE)

AFC reported global same-store sales decreased 1.0 percent in the 2009 fiscal fourth quarter ended Dec 27th, compared to a decrease of 2.1 percent during the same time last year. Global same-store sales increased 0.7 percent for the full fiscal 2009. The Company expects 2009 reported earnings to be at the upper end of $0.66-$0.70 per diluted share, compared to reported earnings of $0.76 per diluted share in 2008.
AFC Enterprises, Inc. is the franchisor and operator of Popeyes® restaurants, the world's second-largest quick-service restaurant chicken concept based on number of units. As of December 27, 2009, Popeyes had 1,943 restaurants in the United States, Puerto Rico, Guam and 27 foreign countries.

Jan 11 · 4:22:00 PM · Source: Company Press Release
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by Rich Pike

Sonic (SONC)

Sonic reported for the 1st-quarter 2010 earnings of $6.2 million, or $.10 per share, on sales of $136.5 million. That compares to the prior year earnings of $7.1 million, or $.12 per share, on sales of $184.1 million.
Lower sales reflects primarily the impact on the company's revenue mix from refranchising 205 partner drive-ins during fiscal 2009. The company now receives franchise royalties from these refranchised drive-ins instead of partner drive-in sales. To a lesser extent, the decline in revenues also included the effect of lower same-store sales on partner drive-in sales and franchise royalties. Fiscal 2010 Revised Outlook Based on Sonic's first quarter results and the anticipation of a continued challenging economic and credit market environment, management anticipates earnings for 2010 will be flat versus fiscal 2009 earnings, as adjusted. This expectation is primarily based on a projected decline in annual system-wide same-store sales of 4% to 6% for the fiscal year, reflecting expected improvement in the latter half of the year versus the current trend. The company also anticipates a decline in restaurant-level margins associated with the decline in sales.

Jan 11 · 4:07:00 PM · Source: Company Press Release
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by Rich Pike

Ruby Tuesday (RT)

Ruby Tuesday reported for the 2nd-quarter 2010 earnings of $0.4 million, or $.01 per share. That compares to the prior year loss of $37.4 million, or $-.73 per share. Same-restaurant sales at Company-operated restaurants declined 1.7% and those for domestic franchised restaurants decreased 4.7% in the second quarter compared to the same quarter of the prior year.
Sandy Beall, Founder and CEO, commented on the results, saying, "In an environment that remains challenging, we are pleased that the momentum we established over the prior several quarters through our marketing strategies, cost savings initiatives, and store-level operations continued in the second quarter and is resulting in a stronger business, substantial free cash flow, and significant debt reduction.

Jan 11 · 3:57:00 PM · Source: Company Press Release
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by Rich Pike

California Pizza Kitchen (CPKI)

Nestle announced today it has agreed to acquire Kraft Foods' frozen pizza business in the US and Canada. The acquisition includes the California Pizza Kitchen brand license for frozen pizza and related products sold in grocery stores. This transaction is subject to regulatory approval and is expected to be completed in 2010.

Jan 11 · 3:40:00 PM · Source: Company Press Release
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by Rich Pike

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