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CKE Restaurants[R], Inc. Reports Period Ten and Third Fiscal Quarter Same-Store Sales and Gives Guidance.

Publication: Business Wire
Publication Date: 11-NOV-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: CKE Restaurants[R], Inc. Reports Period Ten and Third Fiscal Quarter Same-Store Sales and Gives Guidance.(Financial report)

Article Excerpt
CARPINTERIA, Calif. -- CKE Restaurants, Inc. (NYSE: CKR) announced today period ten company-operated same-store sales for the period ended November 2, 2009, for Carl's Jr.([R]) and Hardee's([R]).



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"Unemployment rates have continued to worsen while our competitors have escalated the deep discount burger wars. Both of these events are having an adverse impact on same-store sales results for everyone including us," said Andrew F. Puzder, Chief Executive Officer. "We remain focused on same-store sales while maintaining our brand positioning and improving our restaurant operating margins. In this respect, and as discussed more fully below, we are forecasting that our company operated restaurant level margins will improve from 17.9% in the third quarter of fiscal 2009 to between 18.0% and 18.3% for the third quarter of fiscal 2010 despite an increase of approximately 80 basis points in depreciation expense, primarily related to our ongoing remodel program."

Mr. Puzder continued, "We continue to move forward with our sales-building initiatives focused on increasing...

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