Advantica Reports May Same-Store Sales.Business Editors SPARTANBURG, S.C.--(BUSINESS WIRE)--June 6, 2002 Advantica Restaurant Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : DINE) today reported same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. for company-owned restaurants during the four-week and eight-week periods ended May 22, 2002, compared with the same periods in fiscal year 2001.
Four Weeks Eight Weeks
May 2002 QTD 2002
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Same-Store Sales
Denny's 1.3% 0.4%
Coco's (3.1%) (3.7%)
Carrows 1.4% 0.2%
Guest Check Average
Denny's 2.7% 2.5%
Coco's 3.9% 3.5%
Carrows 2.0% 2.3%
Included below are the Company's restaurant counts at the end of
May, compared with year end 2001.
Restaurant Units 5/22/02 12/26/01
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Denny's
Company-owned 591 621
Franchised 1,118 1,114
Licensed 14 14
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1,723 1,749
Discontinued Operations:
Coco's
Company-owned 135 139
Franchised 39 38
Licensed 295 298
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469 475
Carrows
Company-owned 109 112
Franchised 29 30
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138 142
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2,330 2,366
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Advantica Restaurant Group, Inc. is one of the largest restaurant companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , operating over 2,300 moderately priced restaurants in the mid-scale dining segment. Advantica owns and operates the Denny's, Coco's and Carrows restaurant brands. FRD FRD Ford (street type) FRD Federal Research Division FRD Free Radical Design (game developer) FRD Formerly Restricted Data FRD Foundation for Research Development FRD Functional Requirements Document Acquisition Co., the parent company of Coco's and Carrows and a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Advantica, is classified as a discontinued operation discontinued operation A segment of a business that has been abandoned or sold or for which plans for one or another of these actions have been approved. See also continuing operations. for financial reporting purposes and is currently under the protection of Chapter 11 of the United States Bankruptcy Code Bankruptcy Code may refer to:
Certain matters discussed in this release may constitute forward looking statements involving risks, uncertainties, and other factors that may cause the actual performance of Advantica Restaurant Group, Inc., its subsidiaries and underlying concepts to be materially different from the performance indicated or implied by such statements. Factors that could cause actual performance to differ materially from the performance indicated by such statements include, among others: the Company's ability to maintain continuity of operations The degree or state of being continuous in the conduct of functions, tasks, or duties necessary to accomplish a military action or mission in carrying out the national military strategy. ; the outcome of FRD's pending Chapter 11 proceedings Chapter 11 Proceedings Provisions of the Bankruptcy Reform Act under which the debtor firm is reorganized by a court because the estimated value of the reorganized firm exceeds the expected proceeds from its liquidation. , divestiture efforts and related matters; the competitive pressures from within the restaurant industry; the level of success of the Company's operating initiatives and advertising and promotional efforts; changes in business strategy or development plans; terms and availability of capital; regional weather conditions; overall changes in the general economy, particularly at the retail level; and other factors from time to time set forth in the Company's SEC reports, including but not limited to the discussion in Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial and the risks identified in Exhibit 99 contained in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 26, 2001 (and in the Company's subsequent quarterly reports on Form 10-Q Form 10-Q See 10-Q. ). |
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