News
Einstein Noah Restaurant Group reports 1% comp increase
May 6, 2007
GOLDEN, Colo. — Einstein Noah Restaurant Group Inc. (formerly New World Restaurant Group, Inc.) saw a same-store sales increase of 1.0 percent for the first quarter endedApril 3, 2007. It was the Company's 10th consecutive quarter of comparable store sales growth, the company said.
Total revenue in the first quarter dropped to $96.3 million, a .08 percent decrease from $97.1 million reported in the same period last year.The decline was primarily attributed to the closure of 20 underperforming company-owned restaurants since the first quarter of 2006.
The company also reported net income of $1.1 million for the quarter, compared with a net loss of $12.1 million in the same quarter last year. The year-ago first quarter net loss included $8.8 million in costs associated with the redemption and prepayment of $160 million in notes.
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