Financial News--AFC Enterprises, Advantica, McDonald's, Nathan's Famous, Panera Bread, Pet Valu, Rubio's


Chicago-AFC Enterprises Inc., parent company ofChurch's Chicken, Cinnabon, Popeye's Chicken & Biscuitsand Seattle's Best Coffee, announced that second-quarterearnings rose on strong franchise revenues and lower interestexpenses. The franchisor reported net income of $9 million, up from$5.8 million a year ago.

Franchise-related revenue, including fees from the sale of 37company-owned units to franchisees, helped boost operating earningsand margins in the second quarter, AFC said.-Reuters

Spartanburg, South Carolina-Advantica Restaurant GroupInc., owner of the Carrows, Coco's and Denny's restaurantbrands, reported systemwide sales increases of approximately 4percent to $578 million for the second quarter, compared with $557million in 2000. -Advantica Restaurant Group

Oak Brook, Illinois-McDonald's Corp., reporting a16-percent earnings drop that marked its third straight quarter ofdecreased profits, said it could shutter 250 underperformingrestaurants in "emerging markets."

In commenting on the second-quarter results in a conference callwith analysts, the industry's biggest chain was unspecificabout the locations of the 250 units potentially earmarked forclosure. One analyst reported that most of the shuttered storescould be in economically troubled countries in Latin America,Eastern Europe and the Asia/Pacific region. -Nation'sRestaurant News

Westbury, New York-Nathan's Famous Inc. reported thatearnings before taxes for the quarter ended June 24 increased by 36percent to $1,713,000 as compared to $1,251,000 for the quarterended June 25, 2000. -Business Wire

St. Louis-Panera Bread Co. reported that systemwide salesincreased 3.3 percent for the four weeks ending July 14. For the 12weeks ending July 14, systemwide comparable store sales increased5.7 percent. Sales at franchised units rose 3 percent in thefour-week period and 5.6 percent in the 12-week period.-PR Newswire

Markham, Ontario-Pet Valu Inc. announced its ninthconsecutive quarterly improvement in new income and cash flowcompared to prior year results. Net income improved by 60 percentto a loss of $200,000 for the quarter as compared to the secondquarter of fiscal 2000. Gross profits were impacted by fewerfranchise sales resulting in lower initial franchise fees.-Pet Valu Canada Inc.

Carlsbad, California-Rubio's Restaurants Inc. saidthat its second-quarter earnings rose 17 percent from a yearearlier, boosted by higher revenues and cost containment. Earningsrose to $798,000 from $701,000 a year earlier.-Reuters

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game

How to Detect a Liar in Seconds Using Nonverbal Communication

There are many ways to understand if someone is not honest with you. The following signs do not even require words and are all nonverbal queues.

Business News

American Airlines Sued After Teen Dies of Heart Attack Onboard Flight to Miami

Kevin Greenridge was traveling from Honduras to Miami on June 4, 2022, on AA Flight 614 when he went into cardiac arrest and became unconscious mid-flight.


Alternatives to Layoffs in Tech: Maintaining a Stable Workforce

Layoffs are not always the best option and can often be detrimental to the organization as a whole. Companies can keep a steady workforce while still controlling expenses and adapting to market changes by thinking about possible alternatives to layoffs.

Business News

Would You Buy Maggie Murdaugh's Monogrammed Snake Print Pillows? Items From the Murdaugh Family Home Are Going Up for Auction

The sale comes just weeks after Alex Murdaugh was sentenced to two consecutive life terms for the June 2021 murders of his wife, Maggie Murdaugh, and son Paul Murdaugh.

Money & Finance

How to Choose a Credit Card for Your Startup

When considering the best business credit card for you, take time to weigh the rewards and benefits of each one to determine which card will grow with your business and understand your needs.