Industry News | November 11, 2002

CKE Restaurants, Inc. Reports Period 10 Same-Store Sales

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CKE Restaurants, Inc., (NYSE: CKR) announced today period 10 same-store sales, for the four weeks and quarter ended November 4, 2002, for each of its major brands -- Carl's Jr., Hardee's and La Salsa.

Same-store sales for the period were up 1.1% at Carl’s Jr., compared with a 3.3% increase in the same period in fiscal 2002. Hardee’s saw a decrease of 3.1% compared to a 0.8% gain a year ago. La Salsa was down 0.9% compared to a 3.2% gain in fiscal 2002.

Commenting on the performance for the period, Andrew F. Puzder, President and Chief Executive Officer, said, "As forecasted in our period 9 press release, difficult prior-year comparisons related to the success of The Six Dollar Burger(TM) campaign at Carl's Jr. began to taper off this period and same-store sales were slightly positive over a prior-year increase of 3.3% -- reversing the negative trend seen in the past three periods. We believe our strategy to increase profitability at both Carl's Jr. and Hardee's by focusing on a select number of premium products and by limiting the level of discounting, has continued to contribute to weakness in same-store sales -- particularly at Hardee's. We also believe that the aggressive level of discounting pursued by certain of our competitors has negatively impacted sales.”

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