McDonald's October Same-Store Sales Up 6.9 percent and Darden Closes in on Smokey Bones Sale
City of Industry, CA --(www.USEquityNews.com)-- 11/09/2007 - Fast food franchise industry alert provided by U.S. Equity News. McDonald's Corp (NYSE: MCD) recently posted a 6.9 percent increase in sales at restaurants open at least 13 months, helped by a popular promotion in the United States and strength in Asia. The world's largest restaurant chain has outperformed many other chains this year with breakfast items and newer menu choices like chicken snack wraps that have sold well in the United States, and extended hours in Asia. Those factors continued to boost sales in October and the company's stock rose more than 1 percent in premarket trading.
Casual dining chain Red Robin Gourmet Burgers Inc. (NASDAQ: RRGB) recently narrowed its full-year profit guidance and said it expects a profit drop from last year. The company expects a profit between $1.70 and $1.74 per share, compared to prior guidance of between $1.65 to $1.76 per share. In 2006, the company earned $1.75 per share. The earnings guidance includes 16 cents per share of charges for acquisitions and related expenses, as well as lawsuit settlements.
Darden Restaurants Inc. (NYSE: DRI) has agreed to exclusively negotiate the terms of a purchase agreement for its 73-restaurant Smokey Bones Barbeque & Grill chain with an affiliate of Sun Capital Partners for a 30-day period. If a satisfactory agreement is not reached at the end of 30 days, Darden may resume discussions with others who have submitted acquisition proposals. Darden Restaurants, Inc., headquartered in Orlando, is the world's largest casual dining company with almost $6.7 billion in annual sales and approximately 170,000 employees.
Famous Uncle Al's Hot Dogs & Grille, Inc. (OTCBB: FDOG) announced it has expanded its reach to Phoenix, AZ. The company opened its newest restaurant this week in Phoenix at 4727 East Bell Rd., Phoenix, AZ 85032. The new restaurant is the first Famous Uncle Al's Hot Dogs & Grille restaurant in Arizona. President, Dean Valentino commented, "As part of our plan to expand the chain nationwide this restaurant will serve as our southwest flagship restaurant."
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