Industry News | September 24, 2002

CKE Expects Weak Same-Store Sales

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CKE Restaurants Inc. (NYSE:CKR - News), parent company to the Sonic and Hardee’s brands, said in a quarterly filing with the Securities and Exchange Commission that it expects weak same-store sales in both of its major quick-serve brands.

Carl’s Jr. is expected to experience negative to flat sales for the remaining periods of fiscal 2003 and end the year with flat to a 1% increase in same-store sales. After four consecutive quarters of increases at the end of the prior year, Hardee’s is likely to experience negative same-store sales for the remainder of fiscal 2003.

Revitalizing the Hardee’s chain has become the top priority of the company, according to the report. A new marketing plan, a new focus on premium products, and remodeling restaurants are all aimed at improving Hardee’s profitability.

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.