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Sbarro loses $1 million in Q1
May 12, 2008
MELVILLE, N.Y. — Same-store sales at company-owned Sbarro Inc. restaurants increased 0.3 percent for the 2008 first quarter ended March 30, the company has announced.
Revenues for the quarter were $83.2 million, up 3 percent compared with revenues of $80.5 million for the first quarter of 2007.
The company lost $2.8 million during the first quarter compared with a net loss of $33.2 million for the 2007 first quarter. Included in the first quarter 2007 net loss was $31.4 attributable to special event bonuses in connection with the acquisition of the company by MidOcean SBR Holdings LLC, which took place in January 2007.
Sbarro opened five company-owned restaurants and 19 franchised restaurants during the quarter.
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