CKE Restaurants (CKR)

CKE Restaurants, the holding company for Carl's Jr. and Hardee's quick service restaurant brands, said last week Wednesday at a conference of stock analysts and investment bankers that company-owned same store sales were down.

Carl's Jr. restaurants earlier reported an 8.9% drop for December of stores open at least a year, while Hardee's stores were down 3.2%. Year to date same store sales of units opened at least a year fell for Carl's Jr. by 6 percent and Hardee's reporting a 0.7 percent slide.

No information on same store sales of its 3,147 franchises were released.
Andy Puzder, CKE's CEO said "It is not our brand at all. The reality is the market has shrunk," emphasizing that sales of competitors and the quick service sector as a whole have contracted.

Jan 19 · 1:16:00 PM · Source: BlueMauMau.com
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by Rich Pike