Industry News | January 5, 2005

CKE Reports 19th Consecutive Increase in Same-Store Sales

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CKE Restaurants, Inc. announced today period 12 same-store sales, for the four weeks ended December 27, 2004, for Carl's Jr.(R) and Hardee's(R). Carl’s Jr. experienced an 8.4 percent increase, while Hardee’s reported a positive 5.8 percent.

"Period 12 represents 19 consecutive periods of same-store sales increases for the company's two major brands—Carl's Jr. and Hardee's,” says Andrew F. Puzder, CKE’s president and CEO. “We are particularly pleased with these increases given the impact on sales from the timing of the Christmas holiday this year versus last year, and inclement weather during the period—not only ice and snow in the Midwest and Southeast, but also heavy rains in California. Two-year cumulative same-store sales growth also remained strong for both brands."

“Carl's Jr. introduced the unique new Pastrami Burger during the latter half of period 11, and the brand's latest breakfast offering, The Breakfast Burger midway through period 12. Both products helped fuel strong same-store sales of positive 8.4 percent, says Puzder.

On a two-year cumulative basis, Carl's Jr. same-store sales are up approximately 12.9 percent for period 12. For the 16th consecutive period, average unit volumes were higher than any comparable period in at least a decade. Revenue from company-operated Carl's Jr. restaurants (exclusive of all franchise-related revenue and royalties) for period 12 was approximately $45.3 million.

"The Monster Thickburger helped Hardee's achieve strong same-store sales of positive 5.8 percent,” says Puzder.

On a two-year cumulative basis, Hardee's same-store sales are up approximately 13.1 percent for period 12. For the 19th consecutive period, Hardee's average unit volumes were higher than any comparable period since 1999. n addition, Hardee's period 12 average unit volume was higher than any period 12 since 1997.” Revenue for the period from company-operated Hardee's restaurants (exclusive of all franchise-related revenue and royalties) was approximately $44.4 million. For period 12, consolidated revenue from company-operated restaurants (exclusive of all franchise-related revenue and royalties) was approximately as follows:

Fiscal 2005 will be a 53-week fiscal year. The fourth quarter of this fiscal year will have two accounting periods of four weeks and one accounting period of five weeks. Same-store sales results for the 13th and final period of fiscal year 2005, ending Jan. 31, 2005, will be reported on or about Feb. 9, 2005.