Slower mall traffic hurts Sbarro in Q4 2009

 
March 28, 2010
Sbarro Inc. announced results of operations for the fourth quarter and the fiscal year ended Dec. 27, 2009. The company sustained a 4.6 percent decrease in company-owned comparable-unit sales for the quarter. Domestic franchise comparable-unit sales declined 6.2 percent. Without consideration for foreign currency fluctuations, international franchise comparable-unit sales declined 4.4 percent.
 
For the year, there was a 4.9 percent decrease in company-owned comparable-unit sales. Domestic franchise comparable-unit sales declined 5.6 percent. Without consideration for foreign
currency fluctuations, international franchise comparable-unit sales declined 7.8 percent. The decrease in company-owned and domestic franchise comparable-unit sales primarily reflects continued reduced mall traffic throughout the United States as a result of the current economic environment, according to a company statement.
 
Revenues were $94.0 million for the quarter ended Dec. 27, 2009, as compared to revenues of $98.7 million for the quarter ended Dec. 28, 2008, a decrease of 3 percent. Revenues were $339.3 million for the year ended Dec. 27, 2009, as compared to revenues of $359.2 million for the year ended Dec. 28, 2008, a decrease of 6 percent.
 
Net loss attributable to Sbarro in December 2009 was $499,000 vs. $82 million loss in December '08, an increase of 100 percent. For fiscal year ended Dec. 27, 2009, net loss was $37 million vs. $91 million loss for the fiscal year ended Dec. 27, 2008, an increase of 59 percent.

Topics: Business Strategy and Profitability


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