Einstein earnings ease 13% in quarter

by Eric Schroeder
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LAKEWOOD, COLO. — Earnings at Einstein Noah Restaurant Group, Inc. dipped 13% in the second quarter, while revenues rose 0.2%. Net income in the period ended June 28 was $3,080,000, equal to 18c per share on the common stock, down from $3,556,000, or 22c per share, in the second quarter of fiscal 2010. Revenues rose narrowly to $103,677,000 from $103,473,000. System-wide comparable store sales also increased 0.2%, reflecting strong growth in check driven by moderate pricing, favorable mix shift and strength in catering sales offset by lower comparable transactions as the company rolled over its Free Bagel Friday promotion last year.

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