Bob Evans April same-restaurant sales fall 5.8%

Bob Evans Farms, Inc. (Nasdaq: BOBE) announced that same-store sales in "core" Bob Evans Restaurants (468 stores which were open for the full 12 months in both fiscal years 2003 and 2004) for the fiscal 2005 month of April (the five weeks ended April 29) decreased 5.8 percent from the same period a year ago. Average menu prices for the fiscal month were down approximately 1.5 percent.

Mimi's Cafe same-store sales in "core" restaurants (60 stores which opened prior to July 1, 2002) for the equivalent fiscal 2005 month of April increased 4.9 percent from the same period a year ago. Average menu prices for the month were up approximately 2.4 percent.

The company also announced that diluted earnings per share for the fourth fiscal quarter and year ended April 29, 2005, are expected to be approximately $0.16 and $1.04, respectively. Results for both periods include approximately $0.05 per share in additional depreciation and amortization expense related to the finalization of the Mimi's Cafe purchase price allocation.

Stewart K. Owens, chairman of the board and chief executive officer, said, "Same-store sales at Bob Evans Restaurants were again disappointing in April, and restaurant segment operating margins for the quarter continue to be depressed. Also during the quarter, the food products segment benefited from an 8 percent increase in pounds sold from comparable products and a decline in average hog costs to $49 per hundredweight."

Bob Evans Farms, Inc. owns and operates 588 full-service, family restaurants in 20 states. Bob Evans Restaurants are primarily located in the Midwest, mid-Atlantic and Southeast regions of the United States, while Owens Restaurants operate in Texas. In addition, the company operates 92 Mimi's Cafe casual restaurants located in 13 states, primarily in California and other western states. Bob Evans Farms, Inc. is also a leading producer and distributor of pork sausage and a variety of complementary homestyle convenience food items under the Bob Evans and Owens brand names.


Logos, product and company names mentioned are the property of their respective owners.

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