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Investor Relations

Financial Highlights

On August 28, 2008, J. Trungale, President and Chief Executive Officer of Perkins & Marie Callender's Inc., commented on second quarter results:

"During the second quarter of 2008, top line sales for both Perkins & Marie Callender's continued to be impacted by the difficult economic environment and shifts in consumer spending habits. It has been a delicate balancing act taking price increases on both brands while maintaining a strong price/value ratio, managing food costs and continuing to offer a favorable guest experience. Our management team at Foxtail Foods has diligently addressed a broad range of issues including pricing, productivity, increasing efficiencies and standardization of accounting systems and departmental functions. We are focused on doing what we do best, stressing our rich heritage, looking at products and ways to advantageously present them, positioning ourselves competitively and maintaining positive approval ratings."

Highlights for the second quarter of 2008 as compared to the second quarter of 2007 were:

  • Total revenues were up 0.7% to $131.0 million in the second quarter of 2008, primarily due to the operation of eleven new Company-operated Perkins restaurants. Since the second quarter of 2007, the Company has opened eight new Perkins restaurants and acquired three Perkins restaurants from franchisees.
  • One Company-operated Perkins restaurant opened during the second quarter of 2008; no Company-operated Perkins restaurants were closed. One Perkins franchised restaurant and one Company-operated Marie Callender's restaurant were closed during the second quarter of 2008.
  • Perkins restaurants' comparable sales decreased by 1.9% and Marie Callender's restaurants' comparable sales decreased by 3.9% in the second quarter of 2008 as compared to the second quarter of 2007. These declines in comparable sales resulted primarily from a decrease in comparable guest counts at both concepts.