NRN's - Financial News

Fortunes rising

LAUREN SHEPHERD — Fri, 08 Apr 2011 15:21:49 GMT

Despite tepid consumer spending and a sputtering economic recovery, restaurant chains reported that more guests walked through their doors in the third quarter.

Private-equity players

ROBIN LEE ALLEN — Fri, 08 Apr 2011 15:21:49 GMT

When 3G Capital announced earlier this month it would acquire Burger King in a deal valued at $4 billion, it joined a growing list of less familiar private-equity companies grabbing up restaurant chains.

Bill of health

ROBIN LEE ALLEN — Fri, 08 Apr 2011 15:21:49 GMT

By White Castle’s estimates, health care reform will erode at least 55 percent of its net income when it goes into effect in 2014. And at Brinker International, officials have put the cost of health care reform to the company at $60 million in some news reports.

Seeking new strategies

LAUREN SHEPHERD — Fri, 08 Apr 2011 15:21:49 GMT

With capital still hard to come by and sales stagnating at many dining chains, a growing number of restaurant companies are reviewing the alternatives to business as usual.

Storming the boardroom

LISA JENNINGS — Fri, 08 Apr 2011 15:21:49 GMT

Boardroom battles at Denny’s and Red Robin have made headlines in recent months, and some say a provision in the massive federal financial overhaul bill could change the game for shareholders seeking more clout in the future.

Slow to recover

LAUREN SHEPHERD — Fri, 08 Apr 2011 15:21:49 GMT

A recent string of disheartening economic reports and soft sales trends at some of the restaurant industry’s biggest chains is mounting evidence that the economic tide has not yet turned and the long wait for recovery continues.

Taking stock

LISA JENNINGS — Fri, 08 Apr 2011 15:21:49 GMT

When Logan’s Roadhouse earlier this month filed for a $200 million initial public offering, some wondered if the long dark winter for restaurant IPOs was over.

Pizza executives offer financing tips

Mark Brandau — Fri, 08 Apr 2011 15:21:49 GMT

While access to capital remains difficult to obtain for restaurant operators looking to expand, especially in a heavily franchised segment like pizza, two executives offered creative ways to secure funding during a panel discussion at the Pizza Executive Summit this week in Chicago.

Benihana's 4Q profit up on increased sales

Ron Ruggless — Fri, 08 Apr 2011 15:21:49 GMT

Benihana Inc. credited a “renewal program” at its flagship teppanyaki concept and the improving economy as it posted a 57.6-percent jump in fourth-quarter profit and recorded its first positive same-store sales in nearly two years.

Wendy’s, Arby’s a takeover target

Elissa Elan — Fri, 08 Apr 2011 15:21:49 GMT

Wendy’s/Arby’s Group Inc. chairman Nelson Peltz disclosed Thursday he received an inquiry expressing interest in the acquisition of the fast-food company, according to documents filed with the U.S. Securities and Exchange Commission.

Luby's posts 3Q profit, improved sales

Molly Gise — Fri, 08 Apr 2011 15:21:49 GMT

Luby's Inc. said it swung to a profit in the third quarter from a year-ago loss because of improving sales, more catering business and reduced costs.

Perkins & Marie Callender's 1Q loss grows

Elissa Elan — Fri, 08 Apr 2011 15:21:49 GMT

Perkins & Marie Callender’s Inc. reported a wider first-quarter net loss tied to falling customer traffic at both of its family-dining chains.

McDonald's global sales rise in May

Mark Brandau — Fri, 08 Apr 2011 15:21:49 GMT

McDonald’s Corp. cited new products and value offerings for a 4.8-percent increase in global same-store sales for the month of May.

Logan's Roadhouse parent files for IPO

Molly Gise — Fri, 08 Apr 2011 15:21:49 GMT

LRI Holdings Inc., parent company to the 211-unit Logan's Roadhouse casual-dining chain, filed for a $200 million initial public offering with securities regulators on Monday.

Jack in the Box closes restaurant deals

Lisa Jennings — Fri, 08 Apr 2011 15:21:49 GMT

Numerous deals for Jack in the Box restaurants, including the final sale of 66 locations formerly owned by bankrupt franchisee Kobra Associates, as well as the sale of 21 corporate locations in Northern California, have closed in recent weeks.

Salsarita’s exploring financing alternatives

Elissa Elan — Fri, 08 Apr 2011 15:21:49 GMT

Salsarita’s Fresh Cantina, the nearly 100-unit, fast-casual Mexican restaurant chain, said Thursday it is exploring strategic alternatives, including a possible sale, to raise growth capital.

Sun Capital buys Bar Louie

Lisa Jennings — Fri, 08 Apr 2011 15:21:49 GMT

With merger-and-acquisition activity continuing to boil, private-equity firm Sun Capital Partners Inc. said Wednesday it has acquired Bar Louie Restaurants, owner of the 44-unit namesake casual-dining chain.

Jamba Juice outlines sales drivers

Lisa Jennings — Fri, 08 Apr 2011 15:21:49 GMT

Jamba Juice parent company Jamba Inc. said this week that turnaround efforts have given the smoothie chain traction in the first quarter, and officials pledged to deliver positive sales for the full year.

Hardee's sales grow, but Carl's Jr. still struggling

Lisa Jennings — Fri, 08 Apr 2011 15:21:49 GMT

Hardee’s sales remained positive in late April and early May while those of sister brand Carl’s Jr. were still in negative territory as a result of the challenging economy in California, CKE Restaurants Inc. said Wednesday.

Technomic raises outlook for foodservice sales

Alan J. Liddle and Ron Ruggless — Fri, 08 Apr 2011 15:21:49 GMT

Technomic Inc. has revised upward its forecast for U.S. foodservice industry sales this year, citing such factors as increased consumer spending and job creation.