CKE Restaurants, Inc. (CKR), Wednesday reported a decline in company-operated same-store sales for December or period 12 of its 13 period fiscal year 2010.
The Carpinteria, California-based company's blended same-store sales for Carl's Jr. and Hardee's declined 6.5% in December, compared to a 0.4% increase in the same period of the previous year.
Carl's Jr. same-store sales for the period was an 8.9% decline, compared to a 1.6% decline in the previous year. Hardee's same-store sales for December declined 3.2%, compared to a 3.2% increase in the previous-year period.
Year-to-date, blended same store sales declined 3.7%, with Carl's Jr. and Hardee's same-store sales declining 6.0% and 0.7%, respectively. In the same period of the previous year, blended same-store sales increased 1.8%.
Andrew Puzder, chief executive officer of CKE Restaurants commented, "We believe the ongoing weakness in the overall economy coupled with poor weather conditions negatively impacted both brands' sales results during period 12."
For period 12, trailing-13 period blended average unit volume from company-operated restaurants was $1.21 million, compared to $1.23 million last year.
The company also provided its period 12 revenue trends from company operated restaurants exclusive of all franchise-related revenue and royalties. Consolidated revenue for the period 12 of fiscal 2010 totaled $81.9 million.
Revenue from Carl's Jr. and Hardee's were $46.0 million and $35.9 million, respectively.
Looking forward, the company said that it will focus on profitability, the excellent value-for-the-money of its premium products and new initiatives to improve same-store sales.
The company said its period thirteen same-store sales details would be announced on or about February 3, 2010.
CKR is currently trading at $8.43, down 0.09 or 1.06%, on a volume of 130K shares on the NYSE.
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