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TCBY Enterprises Inc.

TCBY ENTERPRISES INC.

Reports First Quarter Results

LITTLE ROCK, February 28, 1991 -- Sales for the first quarter of fiscal 1991 decreased 18 percent from sales for the first quarter of fiscal 1990. Company sales consist of (i) sales of frozen yogurt and other frozen dessert products primarily to the Martin-Brower Co., which distributes yogurt and other products to TCBY stores, (ii) retail yogurt sales by Company-owned stores, and (iii) sales of equipment and other products primarily to franchised stores.

The decrease in sales resulted from a 3 percent decrease in yogurt sales (wholesale sales primarily to the Martin-Brower Co. plus retail sales at Company-owned stores) and a 67 percent decrease in equipment sales; equipment sales represented 10 percent of total sales in the first quarter of fiscal 1991 compared to 25 percent in the first quarter of fiscal 1990. Yogurt sales decreased as a result of an 11 percent decline in same store sales (the comparison of the first quarter of fiscal 1991 individual TCBY store sales with sales by the same stores operating during the same period of fiscal 1990).

The decrease in sales reflects a continuing difficult sales environment for the Company coupled with a recessionary economy and weak consumer confidence, which was further depressed during this quarter with war uncertainties.

Equipment sales have decreased as a result of a decline in the number of new TCBY stores opened or under construction.
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Title Annotation:Public Company Corporate Reports
Publication:Arkansas Business
Date:May 6, 1991
Words:234
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