Skip navigation
Famous Dave's 2013 profit rises 9.1%

Famous Dave's 2013 profit rises 9.1%

Casual-dining brand says it made “great strides” on several initiatives during the year

Full-year revenue and same-store sales for fiscal 2013 were not much higher than flat for Minneapolis-based Famous Dave’s of America Inc. However, the casual-dining brand said it made “great strides” on several initiatives during the year, such as large reductions in overhead and a 2.5-percent improvement in restaurant-level profit margins. Net income more than doubled to $1.9 million for the Dec. 29-ended fourth quarter and increased 9.1 percent for the year. Famous Dave’s owns 54 barbecue specialty restaurants and franchises another 142 units in 34 states, Puerto Rico and Canada.
 

4Q NET INCOME

Result: $1.9 million, or 25 cents per share
% Increase: 153.3% (from $750,000, or 7 cents per share)

4Q REVENUE

Result: $35.7 million
% Decrease: 1.7% (from $36.3 million)

4Q SAME-STORE SALES

% Decrease at company-owned units: 2.6%


% Decrease at franchised units: 1.1%


Source: Company report



FULL YEAR NET INCOME

Result: $4.8 million, or 74 cents per share
% Increase: 9.1% (from $4.4 million, or 54 cents per share)

FULL YEAR REVENUE

Result: $155.4 million
% Increase: 0.2% (from $155 million)

FULL YEAR SAME-STORE SALES

% Increase at company-owned units: 0.2%


% Decrease at franchised units: 2.9%


Source: Company report



RELATED:
Famous Dave's 3Q profit drops 12.8%
Famous Dave's plans turnaround after earnings miss mark
More restaurant finance news

Contact Mark Brandau at [email protected].
Follow him on Twitter: @Mark_from_NRN

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish