Carrols Restaurant Group Inc. narrowed its third-quarter net loss significantly to $2.8 million, compared with a $6.3 million net loss a year earlier, as lower food costs and general and administrative expenses eased, as did after-tax charges.
Revenue dipped slightly for the Syracuse, N.Y.-based franchisee of 564 Burger King restaurants, reflecting eight fewer locations in operation during the Sept. 29-ended quarter, compared with a year earlier. Same-store sales increased 0.4 percent after lapping a 6.2-percent gain in the third quarter of 2012.
NET LOSS
Result: -$2.8 million, or 12 cents per share(from -$6.3 million, or 28 cents per share)
REVENUE
Result: $168.3 million% Decrease: 0.7% (from $169.5 million)
SAME-STORE SALES
% Increase: 0.4%Source: Company report
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Contact Mark Brandau at [email protected].
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