Weekly Food Industry Report: October 25, 2013

Contributor
A roundup of this week’s food industry financial news

Photo Sasabune Omakase Modified: Flickr/erin/CC 4.0

For the third quarter, Panera Bread reported a 17.1-percent increase in profit.

Every week, we take a look into some of the biggest financial news to emerge from the world of food. Here is this week’s:

 

BJ’s Restaurants Inc.: For the third quarter, the restaurant reported a 47-percent decline in net income, according to

Famous Dave’s of America Inc.:  In order to leverage cost improvements, the company must improve its same-store sales, according to company officials. Its same-store sales fell .8 percent in the third quarter with sales at company-owned units dropping .8 percent and sales at franchised locations dropping 2.3 percent. Profit fell 12.8 percent.

Dunkin’ Brands Group Inc.: For the third quarter, the company reported a 36-percent increase in profit, declaring that unit growth has continued into the western region of the United States, according to a press release.

The Cheesecake Factory Inc.: For the third quarter, the company reported a 1-percent increase in profit including a $1.1 million pre-tax charge for the planned relocation of three restaurants. Disregarding those charges, profit rose 3 percent to $28.1 million.

Brinker International Inc.: For the first quarter ending September 25, the company reported a 4.8-percent increase in profit, mostly concerning 11 restaurants based in Canada.

Panera Bread Co.: For the third quarter, the company reported a 17.1-percent increase in profit. It added 17 new company-owned bakery-cafés and 15 franchise-operated units during the quarter, totaling 1,736 system-wide.

Sonic Corp.: New product promotions including the pretzel-bun hotdogs and summertime shakes increased company sales in its fourth quarter. However, the company reported a decrease in profits in the fourth quarter on charges related to debt refinancing ¾ the closure of 12 underperforming company drive-ins and impairment write-downs for a change in point-of-sale system vendors.

McDonald’s Corp.: For the third quarter, the company’s same-store sales rose in the United States and Europe, producing a 5-percent lift in profit. The company noted that value platforms would be an important focus in the fourth quarter everywhere, including the Asia/Pacific, Middle East, and Africa (APMEA) segment, where same-store sales fell 1.4 percent.

 

We’re always on the lookout for new financial news, so let us know!

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