New York City-Shares of consumer electronics retailer RadioShack equaled their two-year low last week, closing down by more than 4 percent, amid poor earnings expectations and a number of analysts' downgrades.
RadioShack-which earlier warned that poor margins on mobile phones, satellite television and computers would dent first quarter earnings-fell by 4.59 percent, or $1.30, to close at $27 on the New York Stock Exchange. -Reuters
Spartanburg, South Carolina-Advantica Restaurant Group reported same-store sales for its company-owned Denny's restaurants during the four-week period ended January 24, 2001, and February 21, 2001, compared with the same periods in fiscal year 2000.
For the fiscal month of January, Denny's company-owned restaurants posted an increase in same-store sales of 4.1 percent. The increase included a 4.1 percent higher average guest check. In addition, January benefited from stronger sales recorded during the New Year's holiday, compared with the same period last year.
For the fiscal month of February, Denny's company-owned restaurants posted an increase in same-store sales of 1.3 percent. The increase also included the impact of a 4.1 percent higher average guest check. -Advantica Restaurant Group
Oak Brook, Illinois-Sales of McDonald's burgers are up 9 percent in France for the first quarter-a dramatic turnaround from the fourth quarter's 20 percent decline, reports The Wall Street Journal. The uptick is attributed to a "counterintuitive" local ad campaign promoting "Le 280 Grammes," a burger twice a big as the Big Mac. The company is also running ads and movie theater commercials boasting that McDonald's beef does not include any refuse, brain matter, spinal cords or lymph nodes.
McDonald's runs 860 restaurants in France and now hopes to spread its winning strategy to Germany, Spain and Italy, where its sales have fallen by as much as 50 percent. -Reveries.com