Restaurant News Resource - Sbarro Restaurant Industry News

The Board of Directors of Sbarro, Inc. announced that James Greco, 54, has been named President and Chief Executive Officer, effective immediately.

Sbarro, Inc., along with its domestic subsidiaries, announced that its Plan of Reorganization has become effective and the Company has successfully emerged from Chapter 11 with significantly reduced debt and a new $35 million capital infusion.

To Implement Restructuring, Company Initiates Voluntary Chapter 11 Reorganization Proceedings with Commitment for $35 Million New Money DIP Financing Facility Provided by Certain Existing First-Lien Lenders

Revenues were $76.1 million for the quarter ended June 27, 2010 as compared to revenues of $80.1 million for the quarter ended June 28, 2009.

In the first quarter, while we continued to face a challenging economic environment, we achieved comparable-unit sales and earnings in line with our business plan

Inks Partnership with GPS Group to Launch Aggressive Growth Strategy

First Location Opens at AEON Mall in Hinode-Machi, Tokyo with Plans for Sbarro to Open Two Additional Units in First Quarter

Revenues were $85.5 million for the quarter ended September 27, 2009 as compared to revenues of $91.9 million for the quarter ended September 28, 2008. The decrease in revenues was due to a 5.2% decrease in Company-owned comparable-unit sales and lost sales from stores strategically closed, partially offset by sales generated by new Company-owned stores opened in 2009 and 2008.

Revenues were $91.9 million for the quarter ended September 28, 2008 as compared to revenues of $91.0 million for the quarter ended September 30, 2007.

Revenues were $83.2 million for the quarter ended March 30, 2008 as compared to combined revenues $80.5 million for the quarter ended April 1, 2007.