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Frisch's Posts Mixed Comps

CINCINNATI-It was a good quarter for Big Boy, but Golden Corral's comps slipped.

By Dees Stribling | Updated on January 10, 2005

CINCINNATI-Frisch’s Restaurants Inc., which owns and operates casual restaurants in parts of the Midwest, posted strong earnings in its fiscal second quarter 2005, but mixed results in comp-store sales among its two brands, Big Boy and Golden Corral. For the quarter ended Dec. 12, 2004, company earnings rose 13.8% to about $2.74 million, compared to about $2.41 million last year. Earnings per share increased to $0.53 per share from $0.47 per share last year.

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.”

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