Einstein Noah Restaurant Group (BAGL) Reports Mixed Q4 Earnings; Comments on '09 Outlook
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Einstein Noah Restaurant Group Inc (Nasdaq: BAGL) reports Q4 EPS of $0.44, ex-items, 10 cents better than the analyst estimate of $0.34. Revenues for the quarter were $103.9 million, versus the consensus of $104.48 million.
Same store sales fell 1% during the quarter.
The company said, "Our primary focus in 2009 will be driving organic growth through consumer promotions, product innovations and additional locations. We plan to open six to eight Company-owned, six to eight franchised, and 30 to 35 licensed stores in 2009. We also intend to upgrade 45 Company-owned stores.
We have locked in over 90% of all major agricultural commodities at virtually flat prices compared to 2008, with an option to benefit from further reductions in pricing."
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