According to Craig F. Maier, president and CEO of the chain, same-store sales in the second quarter at Frisch's Big Boy restaurants increased 3.2%, marking the 28th out of the last 29 quarters that same-store sales increased at that brand. During the quarter, a new Big Boy was opened in late September, replacing an older Big Boy on the same site, and a different Big Boy was permanently closed in November.
Golden Corral was another story. "Same-store sales for our Golden Corral restaurants declined 5.9% for the quarter and 4.7% year-to-date," said Maier during Monday's earnings conference call. "We now have twenty-nine Golden Corrals in operation with one more under construction in Louisville."
Though overall revenues were up, Maier noted that certain costs are making life difficult for the restaurant industry, and that Frisch's is dealing with the same problems as everyone else. "Unfortunately, we don't see any signs of commodity prices cooling in the near term," said Maier. "We continue to adjust our operations to meet this challenge, for example in menu price increases, though they haven't been so much to cause sticker shock."
Frisch's Restaurants Inc. operates under the name of Frisch's Big Boy, and also operates grill buffet-style restaurants under the name Golden Corral under licensing agreements. All restaurants currently operated by the company are located in Ohio, Kentucky and Indiana. The company has rights to the storied "Big Boy" trademark in Kentucky and Indiana, and in most of Ohio and Tennessee. According to Maier, plans are in place to expand Golden Corral operations into parts of Michigan, Pennsylvania and West Virginia.
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