Famous Dave’s of America Inc. reported on Wednesday a 12.8-percent decrease in profit for the Sept. 29-ended third quarter. The Minneapolis-based barbecue brand said it saw operational improvements in the quarter, but those were offset by a $1.2 million charge for asset impairment at a Salisbury, Md., unit and a lease restructuring at a Virginia restaurant. Famous Dave’s has 181 restaurants, with 138 of those units franchised.
NET INCOME
Result: $737,000, or 10 cents per share% Decrease: 12.8% (from $845,000, or 11 cents per share)
REVENUE
Result: $39.2 million% Decrease: 1.8% (from $39.9 million)
SAME-STORE SALES
% Decrease at company-owned units: 0.8%
% Decrease at franchised units: 2.3%
Source: Company report
RELATED:
• Famous Dave's: Restructuring helped drive 2Q profit
• Famous Dave's 1Q earnings tumble
• More restaurant finance news
Contact Ron Ruggless at [email protected].
Follow him on Twitter: @RonRuggless
