Einstein Noah Restaurant Group Inc. (BAGL, Financial) filed Quarterly Report for the period ended 2012-10-02.
Einstein Noah Restaurant Group has a market cap of $251 million; its shares were traded at around $14.96 with a P/E ratio of 15.3 and P/S ratio of 0.6. The dividend yield of Einstein Noah Restaurant Group stocks is 3.4%.
System-wide comparable store sales were +0.2% and +0.9% for the third quarter and year to date periods ended October 2, 2012, respectively, driven by strong check growth of +4.1% for the quarter and +4.3% on a year to date basis, reflecting price and product mix favorability.
Company-owned restaurant sales for the third quarter and year to date 2012 increased 3.4% and 3.5%, respectively, which is attributable to unit growth and favorable company-owned comparable store sales of +0.2% and +0.8% for the third quarter and year to date 2012, respectively. Catering sales comprised approximately 7.8% of our comparable company-owned restaurant sales for the third quarter of 2012 and 7.5% for year to date 2012, reflecting year over year increases in comparable sales of 21.9% and 20.6%, respectively. On a year to date basis, coffee sales remain strong and now represent approximately 10% of our comparable company-owned restaurant sales. We have also added a net of nineteen new company-owned stores since September 27, 2011, including a net of nine stores acquired from or sold to franchisees.
Manufacturing and commissary revenues for the third quarter and year to date 2012 were down 14.4% and 9.2%, respectively, when compared to the same 2011 periods, primarily due to the closure of the commissaries. However, cost savings resulting from these closures had a significant positive impact on our margins. We expect the closing of these facilities will result in annual cost savings of approximately $1.5 million.
Overall, franchise and license revenue was driven by continued unit development which netted an additional 20 licensed locations since September 27, 2011. Franchise and license comparable store sales were +0.1% and +1.0% for the thirteen and thirty-nine weeks ended October 2, 2012, respectively.
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Einstein Noah Restaurant Group has a market cap of $251 million; its shares were traded at around $14.96 with a P/E ratio of 15.3 and P/S ratio of 0.6. The dividend yield of Einstein Noah Restaurant Group stocks is 3.4%.
Highlight of Business Operations:
Our catering business, on a comparable store basis, grew by approximately 21.9% and 20.6% on a quarterly and year to date basis, respectively, with our focus on our online ordering system as well as search engine/online marketing. Our catering business now makes up over 7% of our company-owned restaurant revenues. We have also seen strong growth in our specialty beverage line of business. Coffee and specialty beverage sales now represent approximately 10% of our menu mix and continue to grow.System-wide comparable store sales were +0.2% and +0.9% for the third quarter and year to date periods ended October 2, 2012, respectively, driven by strong check growth of +4.1% for the quarter and +4.3% on a year to date basis, reflecting price and product mix favorability.
Company-owned restaurant sales for the third quarter and year to date 2012 increased 3.4% and 3.5%, respectively, which is attributable to unit growth and favorable company-owned comparable store sales of +0.2% and +0.8% for the third quarter and year to date 2012, respectively. Catering sales comprised approximately 7.8% of our comparable company-owned restaurant sales for the third quarter of 2012 and 7.5% for year to date 2012, reflecting year over year increases in comparable sales of 21.9% and 20.6%, respectively. On a year to date basis, coffee sales remain strong and now represent approximately 10% of our comparable company-owned restaurant sales. We have also added a net of nineteen new company-owned stores since September 27, 2011, including a net of nine stores acquired from or sold to franchisees.
Manufacturing and commissary revenues for the third quarter and year to date 2012 were down 14.4% and 9.2%, respectively, when compared to the same 2011 periods, primarily due to the closure of the commissaries. However, cost savings resulting from these closures had a significant positive impact on our margins. We expect the closing of these facilities will result in annual cost savings of approximately $1.5 million.
Overall, franchise and license revenue was driven by continued unit development which netted an additional 20 licensed locations since September 27, 2011. Franchise and license comparable store sales were +0.1% and +1.0% for the thirteen and thirty-nine weeks ended October 2, 2012, respectively.
Read the The complete Report
