Einstein Noah net surges on same-store sales

by Eric Schroeder
Share This:

LAKEWOOD, COLO. — Einstein Noah Restaurant Group posted net income of $3,842,000 in the first quarter ended April 1, equal to 24c per share on the common stock, up sharply from $1,132,000, or 11c per share, in the same period a year ago. Net sales totaled $103,264,000, up 7% from $96,255,000 in the first quarter of fiscal 2007.

"Thanks in large part to our increased same-store sales and our efforts in 2007 and early 2008 to lock in the cost of wheat, implement a well-timed price increase and introduce a revamped menu, our results for the first quarter of 2008 reflect impressive financial performance," said Paul Murphy, president and chief executive officer. "We are in a growth mode during a time when most companies are pulling back."

During the first quarter, Einstein Noah opened three company-owned restaurants, four license locations and the first Einstein Bros. franchise restaurant in Jacksonville, Fla.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.

The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.