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Sbarro Q1 2010 has bright spot with international comps
May 13, 2010
Sbarro has announced the results of operations for its first quarter ended March 28, 2010. Domestic revenues and comps are still down, but the chain is making progress with its international expansion, having already started to open some 1,250 planned units in Japan. The company also is slated to open 1,000 more units in Brazil. International comps have performed well on the heels of this momentum.
Without consideration for foreign currency fluctuations, international franchise comparable-unit sales increased 7.4 percent, according to a company statement. Domestic franchise comparable-unit sales declined 4.3 percent.
Income was negative again, culminating in a $5.2 million loss compared to $5.7 million for the first quarter of '09, a 9 percent increase.
Revenues were $79 million for the quarter ended March 28, 2010 as compared to revenues of $79.6 million for the quarter ended March 29, 2009, a decrease of .1 percent. The company said the decrease in sales was due to a decrease in comparable unit sales of 1.6 percent in their QSR restaurants, and lost sales from stores strategically closed of $2.2 million, partially offset by sales generated by new stores opened in 2010 and 2009 of $2.3 million.
Sbarro Inc. will host a conference call May 20, 2010, at 11:00 a.m. Eastern time to discuss results of operations for the quarter ended March 28. There are two ways to participate in the conference call: via conference call or webcast.
Domestic callers may dial in at 1-877-941-4774. International callers may dial in at 1-480-629-9760. Request to be connected to the Sbarro Inc. Q1 Fiscal 2010 Earnings Conference Call, confirmation number 4299504. Callers should dial in five to 10 minutes before the scheduled start time. You may also access the conference call via webcast by visiting Sbarro's website,selecting Investors, and going to Investor Presentations.
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