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News and Information Article
COLUMBUS, Ohio, Sept. 5 /-FirstCall/ -- Bob Evans Farms, Inc.
(Nasdaq: BOBE) today announced that same-store sales at Bob Evans
Restaurants for the fiscal 2007 month of August (the four weeks ended
August 25) decreased 4.2 percent from the same period a year ago. Average
menu prices for the fiscal month were up approximately 3.0 percent.
Mimis Cafe same-store sales for the fiscal 2007 month of August
increased 0.5 percent from the same period a year ago. Average menu prices
for the month were up approximately 2.6 percent.
Same-store sales are calculated using the 510 Bob Evans Restaurants and
81 Mimis Cafes that were open at the end of the month and for the full 12
months in both fiscal 2005 and 2006.
Chief Executive Officer Steve Davis said, "August same-store sales at
Bob Evans Restaurants were disappointing, however, early September sales
are encouraging."
Bob Evans Farms, Inc. owns and operates 587 full-service, family
restaurants in 18 states primarily in the Midwest, mid-Atlantic and
Southeast regions of the United States. In addition, the company operates
104 Mimis Cafe 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 companys Web site at http://www.bobevans.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995
Certain statements in this news release 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:
* the failure to achieve and maintain positive same-store sales;
* a decline in general economic conditions;
* competition in the restaurant and food products industries;
* the companys ability to expand its restaurant base;
* consumer acceptance of changes in menu, food products, prices,
atmosphere and service procedures;
* the companys ability to hire and retain a sufficient number of
qualified employees;
* market concentration;
* adverse weather conditions;
* government regulation;
* allegations related to food-related illnesses and health concerns
regarding certain food products;
* margin sensitivity;
* consumer acceptance of the companys restaurant concepts and food
products in new markets;
* fluctuations in quarterly operating results;
* the adequacy of insurance loss estimates and reserves; and
* protection of our trademarks and other intellectual property rights.
These risks are discussed more fully under the heading "Risk Factors"
in Item 1A of the companys 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. 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.
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 companys 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.
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