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Pizza Inn comps up for 6th consecutive quarter
November 13, 2008
THE COLONY, Texas -- Comparable domestic buffet restaurant sales at Pizza Inn restaurants increased 1.1 percent for the first quarter of fiscal 2009 ended Sept. 28, the company announced.
The increase represented the sixth consecutive quarter of comparable-store sales increases for the company.
Revenues for the quarter were $11.4 million, off 6 percent compared with revenues of $12.1 million for the first quarter of last year. Net income for the quarter was $293,000, off 15 percent compared with net income of $345,000 last year.
"Our same store sales performance has remained positive in these difficult economic times, which is indicative of the continued progress we are making in restoring the Pizza Inn brand," said Pizza Inn president and CEO Charlie Morrison. "Our newest company-owned restaurant in Denton, Texas, opened in mid-October and the initial sales results have been above expectations. This new company restaurant will be the foundation for the development of company and franchisee restaurants in the future."
Read also, Pizza Inn back on track.
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