CKE Restaurants’ Loss Widens to $51.2 Million
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CKE Restaurants Inc., the parent of Carl’s Jr. and Hardee’s, reported a wider fiscal fourth-quarter loss, reflecting charges that offset the benefits of a 9% increase in total revenue.
The restaurant group posted a loss of $51.2 million, or 86 cents a share, for the quarter ended Jan. 26, the company said. A year earlier, the fourth-quarter loss was $7.7 million, or 13 cents.
Excluding goodwill and charges related to restaurant closings, CKE’s loss for the latest quarter was $500,000.
Revenue at the Carpinteria, Calif.-based company rose 8.8% to $325.4 million.
Shares of CKE rose 23 cents to $10.90 on the New York Stock Exchange before the release of the results.
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