Financial News--Domino's Pizza, IHOP, Papa John's, ServiceMaster, Tricon, Wendy's
Ann Arbor, Michigan-Domino's Inc. announced record operating results for the second quarter of 2001, which ended June 17. Net income increased 63.8 percent to $8.9 million. Domestic same-store sales increased 1.8 percent, comprised of a 5.4 percent increase in company-owned same store sales and a 1.3 percent increase in domestic franchise same store sales. -Domino's Inc.
Glendale, California-IHOP Corp. reported net income of $10.2 million for the second quarter of the year, up from $8.3 million for the same period last year. The company franchised 27 restaurants during the second quarter, compared with 16 for second quarter 2000. -IHOP Corp.
Louisville, Kentucky-Papa John's International Inc. said its second-quarter net income fell 3.5 percent and that competition and higher costs for cheese and energy will push earnings for the rest of the year to the low end of its forecast. The company posted net income of $12.5 million for the quarter, compared with $13 million one year earlier. -Reuters
Downers Grove, Illinois-Maintenance services franchise ServiceMaster reported that second-quarter profits fell 18 percent on a pro forma basis. The company also warned of lower-than-expected full-year earnings per share, excluding pro forma adjustments, in the range of 51 to 55 cents. Wall Street had been expecting the company to post full-year earnings of 59 cents per share. -Memphis Business Journal
Louisville, Kentucky-Tricon Global Restaurants reported lower earnings for the second quarter as sales at its Taco Bell restaurants continued to slide. Tricon reported earnings of $111 million for the second quarter ended June 16, down 2 percent from the $113 million earned from the same time a year ago. -Associated Press
Chicago-Wendy's International Inc. said its second-quarter earnings rose 11 percent, boosted by new restaurant openings and sales at its Wendy's hamburger and Tim Hortons doughnut chains. The company said net income increased to $56 million from $50.7 million in 2000. -Reuters