MEMPHIS Tenn. Perkins & Marie Callender’s Inc. said Thursday it narrowed its net loss in the second quarter as cost controls helped offset falling sales at its Perkins and Marie Callender’s family-dining chains.
For the second quarter ended July 12, the company posted a net loss of $5.9 million, compared with a net loss of $8.1 million in the same quarter a year ago. Second-quarter revenue fell 6.9 percent to $121.9 million.
Same-store sales fell 8.3 percent at company-owned Perkins units and 5.3 percent at company-owned Marie Callender’s restaurants.
“Throughout the second quarter, we remained consistent in our efforts to provide high quality, positive dining experiences for our guests while maintaining labor efficiency and managing restaurant and administrative costs,” said J. Trungale, the company's president and chief executive. “We have benefited from lower commodity costs and margin improvement through focused cost controls, including the chainwide implementation of an improved food cost management tool.”
Perkins & Marie Callender’s said food costs in the second quarter decreased to 26.3 percent of sales, compared with 30 percent of sales in the year-earlier period. The company cited lower commodity costs for eggs, dairy products and oils.
Perkins & Marie Callender’s Inc. owns and operates 163 Perkins restaurants and franchises 316 Perkins units. It also owns and operates 77 Marie Callender’s units, two Callender’s Grill restaurants, one East Side Mario’s restaurant and 12 Marie Callender’s under partnership agreements. In addition, it franchises 39 more Marie Callender's restaurants and one Marie Callender’s Grill.
Contact Elissa Elan at [email protected].
