News
Sbarro's loss widens
August 14, 2007
MELVILLE, N.Y. — Comparable-store sales at company-owned Sbarro Inc. stores increased 3 percent for the second quarter ended July 1, the company announced. Comps increased 4.6 percent for domestic franchise stores and 3.7 percent for international franchise stores.
Revenues at the chain were $82.6 million for the quarter, up 11 percent compared with revenues of $74.3 million for the quarter ended July 16. Year-to-date, revenues were $163.1 million, off 6 percent from revenues of $173.4 million for the first six months of 2006.
The six-month period of 2007 consisted of 26 weeks, compared with 28 weeks for the first six months of 2006.
Sbarro Inc. posted a loss of $2.4 million for the 2007 second quarter, compared with a loss of $1.3 million for the 2006 second quarter. Year-to-date, the company posted a loss of $35.6 million compared with a loss of $3.7 million for the first six months of 2006.
According to a news release, the bulk of the loss was attributed to special-event bonuses related to the acquisition of the company by MidOcean SBR Acquisition Corp., an indirect subsidiary of MidOcean SBR Holdings LLC. The acquisition was completed Jan 31.
Related Media
Subscribe
Get the latest news and resources from Pizza Marketplace.
Recent Posts
Valentina’s launches '$24K in 24 Hours' 9/11 memorial fundraiser
SpeedLine Solutions unveils cloud-based POS system SpeedLine Plus
Pizza Hut Canada launches app
SpeedLine launches cloud-based platform to help multi-unit operators streamline operations
HungerRush launches AI-powered text marketing for restaurants
