COLUMBUS, Ohio, July 3 /PRNewswire-FirstCall/ -- Bob Evans Farms, Inc. today announced that same-store sales at Bob Evans Restaurants for the fiscal 2007 month of June (the four weeks ended June 23) decreased 4.1 percent from the same period a year ago. Average menu prices for the fiscal month were up approximately 3.0 percent.
Mimi's Cafe same-store sales for the fiscal 2007 month of June decreased 1.0 percent from the same period a year ago. Average menu prices for the month were up approximately 2.5 percent.
Same-store sales are calculated using the 514 Bob Evans Restaurants and 81 Mimi's Cafes that were open at the end of the month and for the full 12 months in both fiscal 2005 and 2006.
Bob Evans Farms, Inc. owns and operates 588 full-service, family restaurants in 19 states primarily in the Midwest, mid-Atlantic and Southeast regions of the United States. In addition, the company operates 104 Mimi's Café casual restaurants located in 17 states, primarily in California and other western states. Bob Evans Farms, Inc. is also a leading producer and distributor of pork sausage and a variety of complementary homestyle convenience food items under the Bob Evans and Owens brand names. For more information about Bob Evans Farms, Inc., visit the company's Web site at http://www.bobevans.com/.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Statements in this report that are not historical facts are forward- looking statements. Forward-looking statements involve various important assumptions, risks and uncertainties. Actual results may differ materially from those predicted by the forward-looking statements because of various factors and possible events, including, without limitation:
- Changing business and/or economic conditions, including energy costs,
- Competition in the restaurant and food products industries,
- Ability to control restaurant operating costs, which are impacted by
market changes in the cost or availability of labor and food, minimum
wage and other employment laws, fuel and utility costs and general
inflation,
- Changes in the cost or availability of acceptable new restaurant sites,
- Accurately assessing the value, future growth potential, strengths,
weaknesses, contingent and other liabilities and potential
profitability of Mimi's Café,
- Adverse weather conditions in locations where the company operates its
restaurants,
- Consumer acceptance of changes in menu, price, atmosphere and/or
service procedures,
- Consumer acceptance of the company's restaurant concepts in new
geographic areas and
- Changes in hog and other commodity costs.
There is also the risk that the company may incorrectly analyze these risks or that the strategies developed by the company to address them will be unsuccessful.
Certain risks, uncertainties and assumptions are discussed here and under the heading "Risk Factors" in Item 1A of the company's Annual Report on Form 10-K for the fiscal year ended April 28, 2006. It is impossible to predict or identify all such risk factors. Consequently, no one should consider any such list to be a complete set of all potential risks and uncertainties. Forward- looking statements speak only as of the date on which they are made, and the company undertakes no obligation to update any forward-looking statement to reflect circumstances or events that occur after the date on which the statement is made to reflect unanticipated events. Any further disclosures in the company's filings with the Securities and Exchange Commission should also be consulted. All subsequent written and oral forward-looking statements attributable to the company or any person acting on behalf of the company are qualified by the cautionary statements in this section.
