NPC International, Inc. (Nasdaq:NPCI):
- February Comparable Store Sales +.8%:
- Dine-in restaurants: +1.5%
- Delivery: -1.6%
- Re-imaged restaurants accounted for +2.5% comparable store sales growth
NPC International, Inc. (Nasdaq:NPCI), yesterday reported comparable store sales growth of .8% for the four weeks ended February 27, 2001.
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Fifty-nine restaurants re-imaged in the last eighteen months accounted for 2.5% comparable store sales growth during the period. The favorable impact of this program is primarily reflected in the Company’s dine-in restaurants, which recorded comparable store sales growth of 1.5%. The Company’s delivery units recorded a comparable store sales decline of 1.6%.
On a quarter-to-date basis, comparable store sales have increased 1.1% compared to management’s previous guidance for growth of +2% to +3% for the quarter. Lower than expected comparable store sales growth and continued high energy costs (principally natural gas) have adversely impacted margins during the quarter. Accordingly, management expects earnings per diluted share, before facility action charges, to range from $.26 to $.28 for the fourth fiscal quarter compared to management’s previous guidance of $.29 to $.31.
With the exception of historical information, certain of the matters discussed in this news release are forward-looking statements including, in particular, those statements relating to the Company’s expectations for: (i) fourth quarter comparable store sales results, (ii) continued consumer demand for the Company’s products (iii) continued performance and consumer acceptance of the Company’s asset re-imaging program, (iv) utility costs, and (v) fourth quarter operating results and earnings. Such forward-looking statements involve estimates that are subject to certain risks and uncertainties that could cause actual results to materially differ, either better or worse, from those projected. Such risks include, but are not limited to, economic conditions, consumer demand, the level of and the effectiveness of marketing campaigns by the Company and Pizza Hut, Inc., competitive conditions, food cost, availability of food ingredient supply and distribution of product, labor costs, new product introductions, product mix and pricing and other risks indicated in the Company’s various filings with the Securities and Exchange Commission.
NPC International, Inc. is the world’s largest Pizza Hut franchisee and currently operates 836 Pizza Hut restaurants and delivery kitchens in 27 states.
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