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Einstein Noah reports preliminary Q4 results
January 11, 2010
Einstein Noah Restaurant Group Inc. has reported preliminary financial results for its fourth quarter ended Dec. 29, 2009. The company also announced that it is presenting at two upcoming investor conferences.
For the 13-week period, total revenues were virtually flat at approximately $103.7 million compared to $103.9 million in the fourth quarter of 2008. System-wide comparable store sales showed sequential improvement in the latest quarter. Comparable-store sales decreased 1.5 percent, with a 1.1 percent decline in transactions, while company-owned comparable store sales decreased 1.8 percent, including a 1.6 percent decline in transactions.
During the fourth quarter of 2009, the company opened three new company-owned Einstein Bros. restaurants, two franchised restaurants, and nine Einstein Bros. licensed restaurants.
"We were pleased to end 2009 on a ‘high note' with what we consider to be strong preliminary quarterly results, including our best comparable store sales and transaction performance of the year in what continues to be a challenging consumer spending environment," Jeff O'Neill, CEO and president of Einstein Noah, said in a company statement. "We also continue to reap the rewards of our ongoing marketing and merchandising initiatives centered on raising customer awareness, trial and frequency, coupled with our disciplined approach to cost control and operational execution. As we move into 2010, we look forward to building upon our accomplishments as we position ourselves for an even brighter future."
Investor conferences
On Jan. 12, company will present at the 8th Annual Cowen and Company Consumer Conference at The Westin New York at Times Square. The presentation will begin at 1:30 p.m. Eastern time. On Jan. 14, the company will present at the 12th Annual ICR XChange Conference at the St. Regis Monarch Beach Resort & Spa in Dana Point, Calif. The presentation will begin at 11:40 a.m. Eastern time.
Investors and interested parties may listen to a live webcast of both presentations by visiting the company's Web site.
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