Fort Lauderdale, Florida-Wholesale printing franchise BCT International Inc. was informed by the NASDAQ stock market that the company's common stock had failed to maintain a minimum value of public float of $5 million over the last 30 days, as required by the exchange's national market rules. If at any time before August 30, 2001, the market value of the company's public float is at least $5 million for a minimum of 10 consecutive trading days, NASDAQ will determine if the company complies with the rule. If the company is unable to comply with the rule, it will be delisted. The company is considering its options, including applying to list on the NASDAQ Small Cap Market. -BCT International Inc.
Taipei, Taiwan-7-Eleven Inc. says the global economic slowdown will not bite into its bottom line, adding it is confident of continued expansion in the retail business. "In spite of the difficult economy, 7-Elevens in many areas continue to prosper," says James W. Keyes, 7-Eleven president and CEO. "We find even in a good economy or bad economy, we are able to modify our product mix to meet the needs of the customers." -Reuters
Louisville, Kentucky-Papa John's International Inc. announced that domestic systemwide comparable sales for the four weeks ended May 27 increased 0.3 percent, composed of a 1.6 percent increase at franchised units and a 3.1 percent decrease at company-owned restaurants. Total systemwide international sales increased 28.4 percent for the four-week period over the comparable period last year. -Business Wire
Oklahoma City-Sonic Corp. says it remains comfortable with the consensus third-quarter earnings forecast of 40 cents per share and expects earnings growth to surpass 20 percent. The company says that for the third quarter, ended May 31, sales at stores open at least a year are expected to show an increase slightly ahead of the anticipated range of 2 to 4 percent. -Reuters
Minneapolis-Hair salon operator Regis Corp. says sales at U.S. salons open at least a year were slightly below plans in May, rising only 1.5 percent. The increase in same-store sales compared with a 5.5 percent rise in the same period last year. Total revenues in the month rose 14 percent to $115 million. -Reuters
Fort Worth, Texas-RadioShack warns its sales are tracking below expectations and its second-quarter earnings will fall short of lowered Wall Street forecasts and year-ago results. The company sees diluted earnings per share of 25 to 27 cents a share for the quarter ending June 30. Analysts expected RadioShack to earn 34 cents a share. -Reuters