Spartanburg-based Advantica Restaurant Group, one of the largest restaurant companies in the US, yesterday [Monday] reported same-store sales for company-owned restaurants during the four-week and eight-week periods ended 20 February 2002, compared with the same periods in fiscal year 2001.
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Four Weeks Eight Weeks
Feb. 2002 QTD 2002
———- ———–
Same-Store Sales
Denny’s (1.0%) (0.2%)
Coco’s (8.2%) (7.5%)
Carrows (2.9%) (2.6%)
Guest Check Average
Denny’s 1.2% 1.2%
Coco’s 2.9% 2.7%
Carrows 1.6% 1.3%
Included below are the Company’s restaurant counts at the end of February, compared with year end 2001.
Restaurant Units 2/20/02 12/26/01
———— ————
Denny’s
Company-owned 612 621
Franchised 1,109 1,114
Licensed 14 14
———— ————
1,735 1,749
Discontinued Operations:
Coco’s
Company-owned 138 139
Franchised 38 38
Licensed 294 298
———— ————
470 475
Carrows
Company-owned 110 112
Franchised 29 30
———— ————
139 142
———— ————
2,344 2,366
============ ============
Advantica owns and operates the Denny’s, Coco’s and Carrows restaurant brands. FRD Acquisition Co., the parent company of Coco’s and Carrows and a wholly owned subsidiary of Advantica, is classified as a discontinued operation for financial reporting purposes and is currently under the protection of Chapter 11 of the US Bankruptcy Code effective as of 14 February 2001.
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