Worldwide Restaurant Concepts, Inc. Comments on Preliminary Results for Third Quarter Fiscal 2004
Worldwide Restaurant Concepts, Inc. announced that it expects revenues of approximately $105 million and a loss of $0.04 to $0.06 per share on a fully diluted basis for the third quarter ended February 1, 2004.
"In light of the food-borne illness incident that occurred at our Pat & Oscar's division during the last few days of our second quarter, we anticipated that the third quarter would be challenging," commented Charles Boppell, President and CEO of Worldwide Restaurant Concepts, Inc. "The continued strength of our international operations and growing sales momentum at Sizzler USA weren't enough to offset the impact of the incident at Pat & Oscar's. Although Pat & Oscar's same store sales are expected to show a decline of nearly 26% for the quarter, we're encouraged by the improvement in our trends during the quarter and our guests' response to our first-ever television advertising campaign in San Diego. To further accelerate the sales recovery, Pat & Oscar's launched its second television campaign less than two weeks ago. We're encouraged by the early results, and if our trends continue, we're hopeful that sales will be back on track by the end of this fiscal year," concluded Mr. Boppell.
About Worldwide Restaurant Concepts
Worldwide Restaurant Concepts, Inc. operates, franchises or joint ventures 313 Sizzler(R) restaurants worldwide, 112 KFC(R) restaurants primarily located in Queensland, Australia, and 21 Pat & Oscar's(R) restaurants.
About Worldwide Restaurant Concepts
Worldwide Restaurant Concepts, Inc. operates, franchises or joint ventures 313 Sizzler(R) restaurants worldwide, 112 KFC(R) restaurants primarily located in Queensland, Australia, and 21 Pat & Oscar's(R) restaurants.
