Sbarro's loss widens

 
Aug. 12, 2009
Comparable-store sales at company-owned Sbarro units declined 5.1 percent for the second quarter ended June 28, the company has announced. Domestic franchise comps declined 4.5 percent while international franchise comparable-unit sales declined 23.2 percent, primarily due to the strengthening of the dollar relative to virtually all foreign currencies.
 
Without consideration for foreign currency fluctuations, the international franchise comparable-unit sales decline would have been 4.5 percent.
 
Revenues for the quarter were $80.1 million, off 6 percent compared with $85.4 million in the 2008 second quarter. Year-to-date revenues were $159.7 million, off 5 percent compared with revenues of $168.6 million of the first six months of last year.
 
The company ran a net loss of $6.5 million for the quarter, compared with a net loss of $5 million in the 2008 second quarter. For the year to date, the company ran a net loss of $12.2 million compared with a net loss of $7.7 million for the first half of last year.  
 

Topics: Operations Management , Public Companies


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