Financial Highlights
On November 18, 2010, J. Trungale, President and Chief Executive Officer of Perkins & Marie Callender's Inc. commented on the financial results for the quarter ended October 3, 2010: "During the third quarter 2010, sales and traffic trends at both Perkins and Marie Callender’s continued to be adversely affected by the languishing economy, including declines in consumer confidence and sluggish consumer spending and increased commodity costs. While we remain consistently focused on ensuring positive dining experiences at all of our restaurants and serving high quality food at a strong price-value ratio, we continue to strive for operational, financial and capital efficiencies to ease the burdens stemming from the negative economic environment."
Highlights for the Third Quarter of 2010:
- Perkins restaurants' comparable sales decreased by 2.8% and Marie Callender's restaurants' comparable sales decreased by 4.1% in the third quarter of 2010 compared to the third quarter of 2009.
- Since the beginning of 2010, five Perkins franchised restaurants have opened and two corporate restaurants have closed. In addition, two corporate and two franchised Marie Callender’s restaurants have closed.