News
Sbarro posts net loss for Q3
November 11, 2008
MELVILLE, N.Y. –- Comparable-store sales at Sbarro Inc. restaurants were up 15.5 percent for the company's international franchise restaurants for the third quarter ended Sept. 28. Comps at company-owned units were off 1 percent, while comps at domestic franchise units were off 2 percent.
Year-to-date comps were up 20.1 percent for the company's international franchise restaurants, while comps were off 0.4 percent at company-owned units and off 1.2 percent for domestic franchise units.
Revenues for the company were $91.9 million for the third quarter, up slightly compared with revenues of $91 million for the same period in 207. Year-to-date revenues were $260.5 million, up 2.5 percent compared with revenues of $254.1 million for the first nine months of last year.
The company lost $1.2 million in the third quarter compared with net income of $500,000 for the 2007 third quarter. Year to date, the company has lost $8.9 million compared with a net loss of $35.1 million for the same period last year.
Revenue and net income figures include results from the period prior to Sbarro's merger with MidOcean SBR Holdings LLC, which took place on Jan. 31, 2007.
Included in the net loss for the 2007 year to date was $31.4 million attributable to special event bonuses in connection with the merger.
Related Media
Subscribe
Get the latest news and resources from Pizza Marketplace.
