Financial News--Denny's, Domino's, Sonic, Swisher
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Spartanburg, South Carolina-Advantica Restaurant Group Inc.'s bottom line remained underwater through the first six months of fiscal 2001 despite increased systemwide sales at its Denny's chain. While year-to-date same-store sales grew 2.1 percent at company-owned Denny's locations and 0.4 percent at franchised restaurants, Advantica reported a loss of $44.23 million for the first half of the year. -Nation's Restaurant News
Ann Arbor, Michigan-Pizza delivery chain Domino's Inc. reported six-month earnings of $16.7 million versus $10.5 million in the same period a year earlier. Revenue for the six-month period at domestic franchise units was up to $60.7 million, from $55 million in 2000. -Nation's Restaurant News
Oklahoma City-Sonic Corp. announced that it expects to report positive same-store sales for the fiscal year ended August 31, marking the company's 15th consecutive year of same-store sales growth. The company estimates that systemwide same-store sales for the fourth quarter were slightly ahead of the company's targeted range of 2 to 4 percent, continuing the increased sales momentum that began in the third quarter. -Business Wire
Washington, DC-Commercial hygiene service provider Swisher International and its CEO settled accounting fraud allegations by the Securities and Exchange Commission, the regulator said. The SEC alleged that the company overstated earnings for the quarter ended July 31, 1996, by recording a $450,000 franchise sale that had not yet been completed. CEO Patrick Swisher and the company have settled the case without admitting or denying the allegations. -Reuters
