The Steak n Shake Q1 Net Sales Increase 12.9%
Published:29-January-2010
By Staff Reporter
The Steak n Shake Company has reported net sales of $147.6m for the first fiscal quarter of 2010, an increase of 12.9% compared to $130.7m for the same quarter previous year.
Net earnings for the quarter was $5.5m or $3.82 per diluted share compared to a net loss of $3.4m or $2.43 per diluted share for the previous year quarter.
The company also plans to change its corporate name from The Steak n Shake Company to Biglari Holdings. The company said that this adjustment is to delineate more clearly the parent company's new direction as a diversified holding company and to eliminate the ambiguity among the activities of the holding company and those of its own wholly-owned subsidiary, Steak n Shake Operations.
The Steak n Shake Company is engaged in the ownership, operation and franchising of Steak n Shake restaurants. The restaurants offer full-service dining, drive-through and carryout service. The company has over 503 restaurants and 67 franchised restaurants, located in 21 states in the US.
