Industry News | October 14, 2002

CKE Period 9 Same-Store Sales Down

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CKE Restaurants, Inc. (NYSE: CKR), operator and franchiser of over 3,400 restaurants in the United States and internationally, announced today period 9 same-store sales, for the four weeks ended October 7, 2002, for each of its major brands -- Carl's Jr., Hardee's and La Salsa.

Same-store sales were down at both Carl’s Jr. (-6.6%) and Hardee’s (-3.8%). La Salsa saw a gain of 2.6% in the same period.

Commenting on the performance for the period, Andrew F. Puzder, President and Chief Executive Officer, said, "As expected, same-store sales at Carl's Jr. and Hardee's declined in period 9. For the third straight period, Carl's Jr. faced a difficult prior-year comparison associated with the success of The Six Dollar Burger(TM) campaign. Our strategy to increase profitability at Carl's Jr. and Hardee's by focusing on a select number of premium products and limiting the level of discounting, contributed to same-store sales declines this period -- particularly in light of the deep discounting currently taking place at certain competitive brands. The impact of our approach was most pronounced at Hardee's where prior-year increases were primarily attributed to our past practice of heavy promotions and discounting. Same-store sales at La Salsa rose nicely during the period and we're excited about the recent introduction of our new Three Pepper Fajita Burrito and Three Pepper Fajita Platter."

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