Einstein Noah Restaurant Group Inc., parent to the Einstein Bros. Bagels, Noah’s New York Bagels and Manhattan Bagels brands, reported a nearly 18-percent increase in net income for the third quarter ended Oct. 1.
Economic headwinds and a shift in pricing resulted in a same-store sales decline for the quarter, but the company said its focus on “everyday value” and improving operations will drive transactions and build momentum as consumer spending improves.
The Lakewood, Colo.-based company ended the quarter with 844 locations, including 457 company-owned, 109 franchised and 278 licensed restaurants.
NET INCOME
Result: $4 million, or 22 cents per share% Increase: 17.8% (from $3.4 million, or 20 cents per share)
REVENUE
Result: $106.4 million% Increase: 0.9% (from $105.5 million)
SAME-STORE SALES
% Decrease: 1.4% systemwideSource: Company report
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Contact Lisa Jennings at [email protected].
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