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Sbarro loss widens
August 10, 2008
MELVILLE, N.Y. –- Comparable-stores sales at pizzeria chain Sbarro Inc. were flat for the first six months of 2007 compared with an increase of 3.7 percent for the same period last year, the company has announced.
Revenues for the company were $85.4 million for the company's second quarter ended July 1, 2008, up 3 percent compared with revenues of $82.6 million for the 2007 second quarter. Year-to-date revenues were $168.6 million, up 3 percent compared with revenues of $163.1 million for the first six months of last year.
The company lost $5 million for the 2008 second quarter compared with a loss of $2.4 million for the 2007 second quarter. Year to date, the company lost $7.7 million compared with a loss of $35.6 million for the same period last year.
The net loss for 2007 included a charge of $31.4 million in connection with special event bonuses related to the company's merger with MidOcean SBR Acquisition Corp.
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