Quick-service restaurant chain operator CKE Restaurants, Inc. (CKR) Tuesday reported a 3.6% drop in its same-store sales for the four-weeks ended August 10, 2009.
The Carpinteria, California-based company's blended same-store sales for the month of July dropped 3.6% on top of 3% increase in the year-ago period. Same-store sales at Hardee's for the period declined 1.6%, while in the prior year, the company recorded an increase of 1.4%. Carl's Jr. same-store sales for the four-week period declined 5.2%, compared to an increase of 4.2% in the same period last year.
Consolidated revenue from company-operated restaurants for July declined to $86.1 million from $88.9 million last year. Revenue at Hardee's declined to $38 million, while at Carl's Jr. revenue decreased to $48.1 million from the prior-year period.
For the second quarter, the company's blended same-stores sales declined 4.6%, compared to a 3.6% increase in the prior-year quarter. Same-store sales at Hardee's dropped 2.7%, compared to a 3.3% rise last year, while same-store sales at Carl's Jr. were down 6.1%, compared to a rise of 3.8% in the year-ago quarter.
Total consolidated revenue for the second quarter decreased to $257.7 million from $267 million in the same quarter last year.
Year-to-date blended same-stores sales decreased 3.1%, compared to a 2.6% increase last year. Same-stores sales at Hardee's rose 0.2%, compared to a 1% rise last year, while at Carl's Jr, same-stores sales dropped 5.6%, compared to a 3.6% increase in the year-ago quarter.
Total consolidated revenue for the period dropped to $600.8 million from $625.2 million in the corresponding period last year.
Looking forward to the second quarter of fiscal year 2010, the company anticipates restaurant level margin as a percentage of company-operated restaurants revenue to be between 19.1% and 19.4%.
The company is slated to report its period eight same-store sales results for fiscal year 2010 on or about September 16, 2009.
CKR closed Monday's trading at $8.80 on the NYSE.
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