Fritch Q2 Profits Up 67%

CINCINNATI-Higher sales and lower food costs boosted second quarter profits 67% at regional restaurant chain Fritch’s Restaurants Inc. The operators of Big Boy and Golden Corral restaurants said earnings for the three-month period ended Dec. 12 increased to $2.81 million, or 54 cents per share, from $1.68 million, or 33 cents per share, a year earlier. Sales were also up 2% to $68.3 million for the quarter.

Fritch’s attributed the higher quarterly earnings to lower food costs and a modest sales increase at both chains along with a drop in payroll costs at its Golden Corral restaurants.

Same-store sales at the firm’s chain of Big Boy Restaurants rose 0.9% in the quarter while same store sales increased 0.6% at its Golden Corral restaurants, ending a string of quarterly sales declines at Golden Corral’s comparative stores, Craig F. Maier, Fritch’s president and chief executive officer said in a statement.