Financial Overview - May 2018

The Wendy's Company Reports First Quarter 2018 Results

America same-restaurant sales increase 1.6% in 1Q 21st consecutive quarter of positive same-restaurant sales North 33 global restaurant openings during first quarter of 2018 Wendy’s reported a 1.6% growth in same store sales in North America for quarter one of 2018, the 21st consecutive quarter of growth. The brand also reported the opening of 33 new units, including 16 in North America and 17 International locations, although net new unit growth did decrease due to the closing of several domestic (25 locations) and international (9 locations) units. Wendy’s also reported a 3.3% increase in global systemwide sales, as well as increased total revenue for the quarter. May 8, 2018--DUBLIN, OH--(PRNewswire) The Wendy's Company (NASDAQ: WEN) today reported unaudited results for the first quarter ended April 1, 2018. "We are pleased with our continued sales momentum in the first quarter, in the face of adverse impacts from weather," President and Chief Executive Officer Todd Penegor said. "We have now recorded 21 consecutive quarters of positive same-restaurant sales in North America, and continue to capitalize on the strength of our balanced marketing approach and awareness around our fresh never frozen beef*.  We continue to make progress with Image Activation and remain on track to grow our global unit count by approximately 2% in 2018. Our relentless focus on executing every element of The Wendy's Way by providing food our customers love, friendly service, value, and an inviting atmosphere will continue to drive growth in the future." *Fresh beef available in the contiguous U.S., Canada and Alaska. First Quarter 2018 Summary See "Disclosure Regarding Non-GAAP Financial Measures" and the reconciliation tables that accompany this release for a discussion and reconciliation of certain non-GAAP financial measures included in this release.

First Quarter Financial Highlights Adjusted Revenues The increase in adjusted revenues resulted primarily from increased rental revenue related to Franchise Flips completed in 2017 and positive same-restaurant sales at Company-operated and Franchise-operated restaurants which resulted in increased sales and franchise royalties, respectively. The Company estimates that weather adversely impacted same–restaurant sales for the North American system by approximately 50 basis-points. Company-Operated Restaurant Margin The decrease in Company-operated restaurant margin was primarily the result of higher commodity costs, the adverse impact of weather, and labor rate inflation, partially offset by pricing actions.  The Company estimates that weather adversely impacted Company–operated same-restaurant sales by approximately 100 basis-points. General & Administrative Expense The decrease in general and administrative expenses resulted primarily from lower professional fees. Adjusted EBITDA The increase in adjusted EBITDA resulted primarily from revenue growth, including net rental income, partially offset by a decrease in Company-operated restaurant margin. Adjusted Earnings Per Share The increase in adjusted earnings per share resulted primarily from the positive impact of a lower tax rate from net excess tax benefits related to share-based payments and the Tax Cuts and Jobs Act of 2017. Year-to-Date Free Cash Flow The increase in free cash flow resulted from an increase in cash flows from operations and a decrease in capital expenditures.  The increase in cash flows from operations resulted primarily from an increase in net income adjusted for non-cash expenses and a favorable change in working capital. New Restaurant Development In the first quarter of 2018 the Company had 33 global restaurant openings, with a slight decrease in net new unit growth.  The decrease was primarily driven by the timing of North American restaurant closures within the year as we continue to build a stronger system. The Company continues to expect 2018 global net new unit growth of approximately 2 percent, with approximately 1 percent growth in North America and approximately 16 percent growth for International. Image Activation Image Activation, which includes reimaging existing restaurants and building new restaurants, remains an integral part of our global growth strategy. At the end of the first quarter, 44 percent of the global system was image activated.  This compares to 43 percent image activated at the end of 2017. The Company continues to expect approximately 10 percent of the global system to be image activated on an annual basis through 2020. Franchise Flips In the first quarter of 2018, the Company did not facilitate any Franchise Flips. However, the Company will continue to facilitate Franchise Flips to ensure that restaurants are operated by well-capitalized franchisees that are committed to long-term growth.  The Company continues to expect that approximately 200 Franchise Flips will be completed in 2018. Company repurchases 2.4 million shares for $39.4 million in first quarter The Company repurchased 2.4 million shares for $39.4 million in the first quarter at an average price of $16.58 per share. As part of these repurchases, the Company completed its 2017 share repurchase authorization of $150 million which expired on March 4, 2018 by purchasing 1.4 million shares for $22.6 million in the first quarter. The Company also purchased 1.0 million shares for $16.7 million on its existing $175 million share repurchase authorization.  The Company has approximately $158.3 million remaining on its existing share repurchase authorization, which expires March 3, 2019. Company declares quarterly dividend The Company announced today the declaration of its regular quarterly cash dividend of 8.5 cents per share, payable on June 15, 2018, to shareholders of record as of June 1, 2018. The number of common shares outstanding as of May 2, 2018was 239.2 million. 2018 outlook This release includes forward-looking guidance for certain non-GAAP financial measures, including adjusted EBITDA, adjusted earnings per share, free cash flow and adjusted tax rate. The Company excludes certain expenses and benefits from adjusted EBITDA, adjusted earnings per share, free cash flow and adjusted tax rate, such as national advertising funds' revenues and expenses, impairment of long-lived assets, reorganization and realignment costs, system optimization (gains) losses, net and timing and resolution of certain tax matters. Due to the uncertainty and variability of the nature and amount of those expenses and benefits, the Company is unable without unreasonable effort to provide projections of net income, earnings per share, free cash flow or reported tax rate or a reconciliation of those projected measures. The amounts shown below reflect the impact of the new revenue recognition accounting standard, certain other income statement reclassifications and the Tax Cuts and Jobs Act of 2017. The Company continues to expect aspects of the Tax Cuts and Jobs Act of 2017 to be clarified in the future, which could affect elements of the 2018 outlook. For more information regarding the changes related to the new revenue recognition accounting standard and other income statement reclassifications that were made to our prior year financial statements, please reference the publicly available presentation in the supplemental financial information located in the Investors section of the Company's website at www.wendys.com/who-we-are. During 2018, the Company now expects:

1. Depreciation and amortization expense of approximately $130 million.

2. An adjusted tax rate of approximately 21 to 23 percent.

3. Adjusted earnings per share of approximately $0.55to $0.57, an increase of approximately 41 to 46 percent compared to recast 2017 results. In addition, the Company continues to expect:

4. North America same-restaurant sales growth of approximately 2.0 to 2.5 percent.

5. Commodity inflation of approximately 1 to 2 percent.

6. Labor inflation of approximately 3 to 4 percent.

7. Company-operated restaurant margin of approximately 17 to 18 percent.

8. General and administrative expense of approximately $195 million.

9. Adjusted EBITDA of approximately $420to $430 million, an increase of approximately 8 to 10 percent compared to recast 2017 results.

10. Adjusted EBITDA margin of approximately 33 to 34 percent.

11. Interest expense of approximately $120 million.

12. Cash flows from operations of approximately $295to $320 million.

13. Capital expenditures of approximately $75to $80 million.

14. Free cash flow of approximately $220to $240 million, an increase of approximately 29 to 41 percent compared to 2017. Company on track to achieve 2020 goals The Company continues to expect to achieve the following goals by the end of 2020:

15. Global systemwide sales (in constant currency and excluding Venezuela) of ~$12 billion.

16. Global restaurant count of ~7,250.

17. Global Image Activation of at least 70 percent.

18. Adjusted EBITDA margin of 37 to 39 percent.

19. Free cash flow of ~$300 million(capital expenditures of ~$65 million). About Wendy's

Wendy's® was founded in 1969 by Dave Thomas in Columbus, Ohio. Dave built his business on the premise, "Quality is our Recipe®," which remains the guidepost of the Wendy's system. Wendy's is best known for its made-to-order square hamburgers, using fresh, never frozen beef*, freshly-prepared salads with hand-chopped lettuce, and other signature items like chili, baked potatoes and the Frosty® dessert. The Wendy's Company (NASDAQ: WEN) is committed to doing the right thing and making a positive difference in the lives of others. This is most visible through the Company's support of the Dave Thomas Foundation for Adoption® and its signature Wendy's Wonderful Kids® program, which seeks to find every child in the North American foster care system a loving, forever home. Today, Wendy's and its franchisees employ hundreds of thousands of people across more than 6,600 restaurants worldwide with a vision of becoming the world's most thriving and beloved restaurant brand.

Shake Shack Announces First Quarter 2018 Financial Results

Total Revenue Grew 29.1% to $99.1 Million - System-wide Year-Over-Year Unit Growth of 32% - Same Store Sales Increased 1.7%Shake Shack reported impressive results for the first quarter of 2018, including a 1.7% increase in same store sales, 29.1% increase in total revenue, and 29.6% increase in Shack sales. Operating income, net income, and adjusted EBITDA all increased as well for the brand. Shake Shack also reported nine opening, including five domestic company-operated locations and four international licensed Shacks. May 7, 2018--(RestaurantNewsResource) Shake Shack Inc. (NYSE:last week SHAK)  reported its financial results for the first quarter ended March 28, 2018, a period that included 13 weeks. Financial Highlights for the First Quarter 2018: Total revenue increased 29.1% to $99.1 million.

1. Shack sales increased 29.6% to $96.1 million.

2. Same-Shack sales increased 1.7%.

3. Operating income increased 15.7% to $6.5 million, or 6.6% of total revenue.

4. Shack-level operating profit*, a non-GAAP measure, increased 28.5% to $24.0 million, or 25.0% of Shack sales.

5. Net income increased 28.9% to $5.0 million and net income attributable to Shake Shack Inc. was $3.5 million, or $0.13 per diluted share.

6. Adjusted EBITDA*, a non-GAAP measure, increased 32.8% to $16.2 million.

7. Adjusted pro forma net income*, a non-GAAP measure, increased 54.0% to $5.7 million, or $0.15 per fully exchanged and diluted share.

8. Nine system-wide Shack openings, comprising five domestic company-operated Shacks and four licensed Shacks. * Shack-level operating profit, adjusted EBITDA and adjusted pro forma net income are non-GAAP measures. Reconciliations of Shack-level operating profit to operating income, adjusted EBITDA to net income, and adjusted pro forma net income to net income attributable to Shake Shack Inc., the most directly comparable financial measures presented in accordance with GAAP, are set forth in the schedules accompanying this release. See “Non-GAAP Financial Measures.” Randy Garutti, Chief Executive Officer of Shake Shack, stated, “2018 is off to a strong start as we built upon our fourth quarter momentum, reporting another quarter of robust top and bottom-line growth. We delivered year over year revenue growth of approximately 29%, including a 1.7% increase in same-Shack sales and grew adjusted EBITDA by over 30%. These results were supported by the continued evolution of our digital initiatives and the strength of new and existing Shacks as we executed on our development plans." Garutti concluded, "Our team is executing the plan to open 32 to 35 new domestic company-operated Shacks in 2018, our biggest year of openings to date. Our domestic pipeline is stronger than ever as we build towards our goal of 200 domestic company-operated Shacks by the end of 2020 and our long-term target of 450. We expect 16 to 18 net new licensed Shacks for the year, with a focus on Asia including our first Shack in Hong Kong which opened on May 1st . Additionally, we are committed to digital innovation to better connect with our guests, delivering ongoing menu innovation, and investing in our people and infrastructure to execute on the significant long-term opportunity ahead." Development Highlights During the quarter, the Company opened five domestic company-operated Shacks, including its first Shack in the RINo District in downtown Denver, as well as additional Shacks in the existing markets of Houston, LA, South Florida and New Jersey. The Company also opened four international licensed Shacks; one in each of Saudi Arabia, South Korea and two in Japan. First Quarter 2018 Review Total revenue, which includes Shack sales and licensing revenue, increased 29.1% to $99.1 million in the first quarter of 2018, from $76.7 million in the first quarter of 2017. Shack sales for the first quarter of 2018 were $96.1 million compared to $74.2 million in the same quarter last year, an increase of $21.9 million, or 29.6%, due primarily to the opening of 24 new domestic company-operated Shacks, as well as same-Shack sales growth. Licensing revenue for the first quarter was $3.0 million, an increase of 16.7% from $2.6 million in the same quarter last year, due primarily to the opening of new licensed Shacks, and the strong performance of the Company's newer Shacks in South Korea and Japan, balanced by continued softness in the Middle East. Same-Shack sales increased 1.7% for the first quarter of 2018 versus a 2.5% decline in the first quarter last year. The increase in same-Shack sales, consisted of a combined increase in price and sales mix of 5.9% offset by a 4.2% decrease in guest traffic. Excluding all transactions associated with the free burger promotion in the prior year, same-Shack sales would have been 2.1% in the first quarter with traffic declining by only 2.2%. The comparable Shack base includes those restaurants open for 24 full fiscal months or longer. For the first quarter of 2018, the comparable Shack base included 44 Shacks versus 32 Shacks for the first quarter of 2017. Average weekly sales for domestic company-operated Shacks decreased to $81,000 for the first quarter of 2018 compared to $86,000 for the same quarter last year, primarily due to the addition of Shacks at lower volumes to the system. Operating income increased 15.7% to $6.5 million for the first quarter of 2018 from $5.6 million in the same quarter last year. Operating income margins decreased 70 basis points to 6.6%. Shack-level operating profit, a non-GAAP measure, increased 28.5% to $24.0 million for the first quarter of 2018 from $18.7 million in the same quarter last year. As a percentage of Shack sales, Shack-level operating profit margins decreased 20 basis points to 25.0%. These decreases were primarily due to increased labor and related expenses resulting from ongoing increases in minimum wages, prior year costs associated with the free burger promotion, offset in part by the menu price increase implemented at the end of the prior year. A reconciliation of Shack-level operating profit to operating income, the most directly comparable GAAP financial measure, is set forth in the schedules accompanying this release. See “Non-GAAP Financial Measures.” General and administrative expenses increased to $11.8 million for the first quarter of 2018 from $8.5 million in the same quarter last year. The increase was primarily due to the addition of headcount to support the Company's ongoing growth, technology development costs related to its digital products and costs associated with the Company's new Home Office. As a percentage of total revenue, general and administrative expenses increased to 11.9% for the first quarter of 2018 from 11.0% in the first quarter last year. Net income attributable to Shake Shack Inc. was $3.5 million, or 3.5% of total revenue, for the first quarter of 2018, compared to $2.3 million, or 3.0% of total revenue, for the same period last year. Earnings per diluted share was $0.13 for the first quarter of 2018 compared to $0.09 for the same period last year. Adjusted EBITDA, a non-GAAP measure, increased 32.8% to $16.2 million. As a percentage of total revenue, adjusted EBITDA margins increased approximately 40 basis points to 16.3% compared to 15.9% for the year ago period. A reconciliation of adjusted EBITDA to net income, the most directly comparable GAAP financial measure, is set forth in the schedules accompanying this release. See “Non-GAAP Financial Measures.” Adjusted pro forma net income, a non-GAAP measure, increased 54.0% to $5.7 million, or $0.15 per fully exchanged and diluted share during the first quarter of 2018, compared to $3.7 million, or $0.10 per fully exchanged and diluted share during the first quarter of 2017. A reconciliation of adjusted pro forma net income to net income attributable to Shake Shack Inc., the most directly comparable GAAP financial measure, is set forth in the schedules accompanying this release. See “Non-GAAP Financial Measures.” Updated 2018 Outlook For the fiscal year ending December 26, 2018, the Company is providing the following financial outlook:

9. Total revenue between $446 million and $450 million (vs. $444 million to $448 million).

10. Licensing revenue to be between $12 million and $13 million.

11. Same-Shack sales to be 0% to 1% year over year (vs. flat).

12. Between 32 and 35 new domestic company-operated Shacks to be opened in fiscal 2018.

13. Between 16 and 18 net new licensed Shacks to be opened in fiscal 2018.

14. Average annual sales volume for total domestic company-operated Shacks is expected to be between $4.1 million and $4.2 million.

15. Shack-level operating profit margin between 24.5% and 25.5%.

16. General and administrative expenses between $49 million and $51 million, excluding approximately $4 to $6 million of costs related to Project Concrete, the Company's operational and financial systems upgrade initiative.

17. Depreciation expense of approximately $32 million.

18. Pre-opening costs of between $12 million and $13 million.

19. Interest expense between $2.0 million and $2.2 million.

20. Adjusted pro forma effective tax rate between 26% and 27%. About Shake Shack

Shake Shack is a modern day “roadside” burger stand known for its 100% all-natural Angus beef burgers and flat-top vienna beef dogs (no added hormones and no antibiotics ever), 100% all-natural cage-free chicken (no antibiotics ever), spun-fresh frozen custard, crinkle cut fries, craft beer and wine (available at select locations) and more. With its fresh, simple, high-quality food at a great value, Shake Shack is a fun and lively community gathering place with widespread appeal. From its premium ingredients and caring hiring practices to its inspiring designs and deep community investment, Shake Shack’s mission is to Stand For Something Good®. Since the original Shack opened in 2004 in NYC’s Madison Square Park, the company has opened multiple locations in 22 states and the District of Columbia, as well as international locations including London, Istanbul, Dubai, Tokyo, Moscow, Seoul and more.

Del Taco Restaurants, Inc. Reports Fiscal First Quarter 2018 Financial Results

System-wide comparable restaurant sales growth of 3.7% in Fiscal First QuarterDel Taco reported system-wide comparable sales growth of 3.7% for the first quarter of 2018, including 2.6% growth in company-operated stores and 5.2% growth in franchised locations. The company also reported increases in total revenue and restaurant sales, however, net income decreased to $3.2 million compared to a net income of $4.2 million in the first quarter of 2017. Del Taco reported the opening of three company-operated restaurants, as well as the closure of one franchised location. May 7, 2018--(RestaurantNewsResource) Del Taco Restaurants, Inc., (NASDAQ:TACO), the second largest Mexican-American QSR chain by units in the United States, last week reported fiscal first quarter 2018 financial results. The Company also reaffirmed guidance for fiscal year 2018. Fiscal First Quarter 2018 Highlights

1. System-wide comparable restaurant sales growth of 3.7%, marking the 18th consecutive quarter of gains;

2. Company-operated comparable restaurant sales growth of 2.6%, marking the 23rd consecutive quarter of gains. Company-operated comparable restaurant sales growth was comprised of average check growth of 2.6%, including slightly positive mix growth, and flat transactions;

3. Franchised comparable restaurant sales growth of 5.2%;

4. Total revenue increased 6.8% to $112.6 million (including $2.9 million of franchise advertising contributions and $0.2 million of other franchise revenue required as part of the new revenue recognition rules adopted in the first fiscal quarter whereby the offsetting impact is an increase to expenses such that there is no impact on operating income and net income) compared to $105.3 million in the fiscal first quarter 2017;

5. Company restaurant sales increased 3.8% to $105.1 million compared to $101.2 million in the fiscal first quarter 2017;

6. Net income decreased to $3.2 million, representing diluted earnings per share of $0.08, compared to $4.2 million in the fiscal first quarter 2017, representing diluted earnings per share of $0.10;

7. Restaurant contribution* margin of 18.4% compared to 19.1% in the fiscal first quarter 2017;

8. Adjusted EBITDA* of $13.9 million compared to $14.6 million in the fiscal first quarter 2017; and

9. Three company-operated restaurant openings and one franchised restaurant closure. John D. Cappasola, Jr., President and Chief Executive Officer of Del Taco, commented, “Restaurant results were generally in-line with our expectations and we are pleased to reaffirm our guidance for the year. System-wide comparable restaurant sales growth of 3.7%, or 7.9% on a two-year basis, was a strong outcome, and we view the franchise restaurants 5.2% comparable restaurant sales increase as a reflection of Del Taco’s strength in varied geographies. We are very pleased with the continued AUV growth within our franchise base which is driving increased traction on franchise development across the country.” Cappasola continued, “We began the second quarter with a successful ‘2 For $5’ promotion allowing guests to ‘mix and match’ our popular Classic Burritos, and recently launched our fan-favorite Carnitas protein as a limited time offering. A favorable guest response to these offerings has helped drive positive second quarter system-wide comparable restaurant sales through the first five weeks as we lap over our most difficult prior year comparisons of over 8% for company and franchise restaurants during the same five weeks, resulting in very strong two-year trends.” Cappasola concluded, “We view our first quarter restaurant contribution margin as a good outcome considering we had our lowest expected level of menu pricing coupled with the highest level of expected food inflation for the year. As the year progresses we expect to increase our menu pricing while food inflation trends moderate and various supply chain and labor optimization strategies generate additional savings. We believe these factors, coupled with our upcoming launch of Elevated Combined Solutions with enhanced marketing and advertising, menu innovation and operational initiatives, has us well positioned to drive improved restaurant contribution performance in the second half of the year and beyond.” Review of Fiscal First Quarter 2018 Financial Results Total revenue increased 6.8% to $112.6 million (including $2.9 million of franchise advertising contributions and $0.2 million of other franchise revenue required as part of the new revenue recognition rules adopted in the first fiscal quarter whereby the offsetting impact is an increase to expenses such that there is no impact on operating income and net income) compared to $105.3 million in the fiscal first quarter 2017. Excluding these revenue recognition impacts total revenue increased 3.9%. Comparable restaurant sales increased 3.7% system-wide for the fiscal first quarter 2018, resulting in a 7.9% increase on a two-year basis. The Del Taco system has now generated comparable restaurant sales growth for 18 consecutive quarters. Company-operated comparable restaurant sales increased 2.6%, marking 23 consecutive quarters of comparable restaurant sales growth. Franchise comparable restaurant sales increased 5.2%. Net income was $3.2 million, representing $0.08 per diluted share, compared to $4.2 million in the fiscal first quarter 2017, representing $0.10 per diluted share. Restaurant contribution* was $19.3 million compared to $19.4 million in the fiscal first quarter 2017. As a percentage of Company restaurant sales, restaurant contribution* margin decreased approximately 70 basis points year-over-year to 18.4%. The decrease was the result of an approximate 30 basis point increase in labor and related expenses and an approximate 40 basis point increase in occupancy and other operating expenses, of which half was related to the timing of advertising expenses. Adjusted EBITDA* was $13.9 million compared to $14.6 million in the previous year’s fiscal first quarter. Restaurant Portfolio During the fiscal first quarter 2018, Del Taco opened three company-operated restaurants and one franchised restaurant was closed. Repurchase Program for Common Stock and Warrants During the fiscal first quarter 2018, the Company repurchased 9,811 warrants at an average price per warrant of $3.37. At the end of the fiscal first quarter approximately $20.9 million remained under our $50 million repurchase authorization. Fiscal Year 2018 Guidance The Company is reiterating the following guidance for fiscal year 2018, the 52-week period ending January 1, 2019:

10. System-wide same store sales growth of approximately 2% to 4%;

11. Total revenue between $506 million and $516 million, reflecting the new revenue recognition rules whereby franchise advertising contributions and other franchise revenue, which totaled $12.7 million and $0.8 million in fiscal year 2017, respectively, will now be reported on a gross basis. This guidance also includes an estimated $0.5 million unfavorable impact from the timing of initial franchise fees and renewal fees which must be deferred and recognized over the term of the related franchise agreement;

12. Total company-operated restaurant sales between $473 million and $483 million;

13. Restaurant contribution margin between 19.3% and 19.8%;

14. General and administrative expenses between approximately 8.2% and 8.5% of total revenue, including the expense side of the other franchise revenue that will now be reported on a gross basis;

15. Effective tax rate of approximately 26.5% to 27.5%;

16. Diluted earnings per share of approximately $0.59 to $0.63;

17. Adjusted EBITDA between $71.5 million and $74.0 million;

18. 25 to 28 new system-wide restaurant openings; and

19. Net capital expenditures between $35.0 million to $38.0 million. We have not reconciled guidance for Adjusted EBITDA to the corresponding GAAP financial measure because we do not provide guidance for the various reconciling items. We are unable to provide guidance for these reconciling items because we cannot determine their probable significance, as certain items are outside of our control and cannot be reasonably predicted since these items could vary significantly from period to period. Accordingly, a reconciliation to the corresponding GAAP financial measure is not available without unreasonable effort. About Del Taco Restaurants, Inc.

Del Taco (NASDAQ:TACO) offers a unique variety of both Mexican and American favorites such as burritos and fries, prepared fresh in every restaurant's working kitchen with the value and convenience of a drive-thru. Del Taco's menu items taste better because they are made with quality ingredients like fresh grilled chicken and carne asada steak, hand-sliced avocado, hand-grated cheddar cheese, slow-cooked beans made from scratch, and new creamy Queso Blanco. The brand's UnFreshing Believable® campaign further communicates Del Taco's commitment to provide guests with the best quality and value for their money. Founded in 1964, today Del Taco serves more than three million guests each week at its more than 560 restaurants across 14 states.

Ruth’s Hospitality Group, Inc. Reports First Quarter 2018 Financial ResultsRuth’s Hospitality reported an 11.0% increase in restaurant sales and a 104% increase in total revenue for quarter one of 2018, however, company-owned comparable same store sales decreased 1.1% on a fiscal year basis. The company reported that 77 company-owned Ruth’s Chris Steak House restaurants were operating at the end of quarter one 2018, compared to 70 units at the end of quarter one for 2017. Ruth’s expects to open several new units in the third and fourth quarter of 2018. May 7, 2018--(RestaurantNewsResource) Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) today reported unaudited financial results for its first quarter ended April 1, 2018. Highlights for the first quarter of 2018 were as follows:

1. Restaurant sales in the first quarter of 2018 increased 11.0% to $110.4 million compared to $99.5 million in the first quarter of 2017.

2. The Company reported net income of $13.6 million, or $0.45 per diluted share, in the first quarter of 2018, compared to net income of $11.0 million, or $0.35 per diluted share, in the first quarter of 2017.

3. Income from continuing operations in the first quarter of 2018 was $13.6 million, or $0.45 per diluted share, compared to income from continuing operations of $11.1 million, or $0.35 per diluted share, in the first quarter of 2017.

4. Net income in the first quarter of 2018 included a $0.4 million income tax benefit, while net income in the first quarter of 2017 included a $0.2 million income tax benefit, both related to the impact of discrete income tax items.

5. Net income in the first quarter of 2018 also included $0.5 million in deal-related expenses associated with the acquisition of our Hawaiian franchisee.

6. Excluding these adjustments, as well as the results from discontinued operations, non-GAAP diluted earnings per common share were $0.45 in the first quarter of 2018, compared to $0.35 in the first quarter of 2017. The Company believes that non-GAAP diluted earnings per common share provides a useful alternative measure of financial performance. Investors are advised to see the attached Reconciliation of non-GAAP Financial Measure table for additional information. Michael P. O'Donnell, Chairman and Chief Executive Officer of Ruth's Hospitality Group, Inc., noted, “I am very pleased with our first quarter results and a solid start to 2018. Our total revenues increased by 10%, and were lifted by positive comparable sales, despite the challenges of increased winter weather. Our newly acquired Hawaiian restaurants also started the year strong, achieving or beating our expectations while growing sales and profits year over year.” Review of First Quarter 2018 Operating Results Total revenues in the first quarter of 2018 were $116.5 million, an increase of 10.4% compared to $105.5 million in the first quarter of 2017. Company-owned Sales

7. Company-owned comparable restaurant sales decreased 1.1% on a fiscal year basis.

8. The 53rd week of 2017 made a particularly strong contribution to the Company’s earnings as it contained both Christmas Day and New Year’s Eve. As a result, the first quarter fiscal comparison began the year approximately $3 million lower than 2017 and impacted comparable sales in the first quarter by approximately 300 basis points.

9. The calendar shift of Easter from the second quarter of 2017 into the first quarter of 2018 positively impacted first quarter 2018 comparable restaurant sales by approximately 70 basis points.

10. Adjusting for the timing of the 53rdweek of 2017 and measuring performance on a comparable calendar basis, Company-owned comparable restaurant sales increased 1.1%, which consisted of a traffic increase of 0.1%, as measured by entrees, and an average check increase of 1.0%.

11. Fiscal average unit weekly sales were $110.3 thousand in the first quarter of 2018, compared to $111.1 thousand in the first quarter of 2017.

12. 77 Company-owned Ruth’s Chris Steak House restaurants were open at the end of the first quarter of 2018, compared to 70 Ruth’s Chris Steak House restaurants at the end of the first quarter of 2017. Total operating weeks for the first quarter of 2018 increased to 1,001 from 895 in the first quarter of 2017. Franchise Income

13. Franchise income in the first quarter of 2018 was $4.4 million, an increase of 0.6% compared to $4.4 million in the first quarter of 2017. The increase in franchise income was driven by the impact of the new revenue recognition standard, partially offset by the acquisition of the Hawaii restaurant locations and a 0.8% decrease in comparable franchise restaurant sales.

14. 74 franchisee-owned restaurants were open at the end of the first quarter of 2018 compared to 81 at the end of the first quarter of 2017. Operating Expenses

15. Food and beverage costs, as a percentage of restaurant sales, decreased 28 basis points to 28.5%, primarily driven by an increase in average check of 1.0%, offset partially by a 2.4% increase in total beef costs.

16. Restaurant operating expenses, as a percentage of restaurant sales, increased 113 basis points to 46.8%. The increase in restaurant operating expenses as a percentage of restaurant sales was primarily due to an increase in occupancy related expenses.

17. General and administrative expenses, as a percentage of total revenues, were unchanged year-over-year at 7.7%.

18. Marketing and advertising costs, as a percentage of total revenues, increased 67 basis points. The increase in marketing and advertising costs in the first quarter of fiscal year 2018 was primarily attributable to a planned increase in advertising spending, in addition to the reclassification of certain administrative support costs that have been historically charged to general and administrative costs.

19. Pre-opening costs were $0.1 million compared to $1.2 million in the first quarter of 2017, driven by the timing of new restaurant openings.

20. Income tax expenses declined from $5.0 million in the first quarter of 2017 to $2.4 million largely as a result of the enactment of the Tax Cuts and Jobs Act (H.R. 1). Development Update The Company expects to open a new restaurant in Jersey City, NJ in the third quarter of 2018. The Company recently announced a new restaurant opening under a management agreement in Reno, NV in partnership with El Dorado Resorts. This restaurant is scheduled to open late in the fourth quarter of 2018. Additionally, the Company has signed a new lease for a Company-owned restaurant in Paramus, NJ, expected to open in the first half of 2019. Franchise partners expect to open two new restaurants in 2018. The first in Fort Wayne, IN will open next week on May 7th, and another in Markham, Ontario is expected to open in the fourth quarter. Our franchise partner in Ridgeland, MS closed its restaurant during the first quarter of 2018. Also during the first quarter, the Company terminated the franchise agreement of one of the international franchisee-owned Ruth’s Chris Steak House restaurants. Share Repurchase and Debt The Company did not repurchase any shares during the first quarter of 2018. At the end of the quarter, the Company had approximately $50.7 million remaining under its share repurchase authorization. During the quarter, the Company repaid $7 million in debt under its senior credit facility. At the end of the first quarter of 2018, the Company had $43 million in debt outstanding under that facility, with an additional $43 million of availability. Quarterly Cash Dividend Subsequent to the end of the quarter, the Company’s Board of Directors approved the payment of a quarterly cash dividend to shareholders of $0.11 per share. The dividend will be paid on June 7, 2018 to shareholders of record as of the close of business on May 24, 2018, and represents a 22% increase from the quarterly cash dividend paid in May of 2017. Accounting Policy and Standard Changes The Company has adopted ASU number 2014-09, which is generally referred to as the new revenue recognition standard. The new standard, which became effective for the Company beginning in the first quarter of 2018, now requires that advertising contributions received from franchised restaurants be recognized as franchise income. In 2017, these contributions were credited against marketing expenses. The impact of this standard change will increase franchise income in 2018 by approximately $1.5 million, and increase marketing and advertising expense by a similar amount. Beginning in 2018, the Company now recognizes initial franchise fees ratably over the franchise agreement term compared to the previous practice of recognizing the fees upon completion of all material obligations, which generally occurred upon the opening of the restaurant. The overall impact of the change to the recognition of initial franchise fees is expected to be immaterial to the Company’s net results. The Company has moved certain marketing support costs that have been historically allocated to general and administrative expenses into the marketing line. The net impact of this reclassification is neutral, but will increase marketing and advertising expenses and decrease general and administrative expenses by a similar amount. Also in 2018, the Company made a change to its policy on comparable restaurants. The previous approach required that a new restaurant be placed into the comp base during the first quarter after the restaurant was open for 15 months and this was measured quarterly. The Company has now shifted to an 18 month period and will now measure annually. This means that a restaurant will enter the comp group in the first quarter of the year if it has been open for 18 months. Financial Outlook Based on current information, Ruth's Hospitality Group, Inc. is reaffirming its full year 2018 outlook based on a 52 week year ending December 30, 2018, as follows:

21. Food and beverage costs of 29.0% to 31.0% of restaurant sales

22. Restaurant operating expenses of 47.0% to 49.0% of restaurant sales

23. Marketing and advertising costs of 3.8% to 4.0% of total revenue

24. General and administrative expenses of $32 million to $34 million

25. Effective tax rate of 19% to 21%

26. Capital expenditures of $29 million to $31 million

27. Fully diluted shares outstanding of 30.5 million to 31.0 million (exclusive of any future share repurchases under the Company's share repurchase program)

28. The foregoing statements are not guarantees of future performance, and therefore, undue reliance should not be placed upon them. We refer you to our recent filings with the Securities and Exchange Commission for more detailed discussions of the risks that could impact our financial outlook and our future operating results and financial condition. About Ruth’s Hospitality Group, Inc.
    

Ruth's Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with over 150 Ruth’s Chris Steak House location

J. Alexander’s Holdings, Inc. Reports Results for First Quarter Ended April 1, 2018

J. Alexander’s Holdings, Inc. Reports Results for First Quarter Ended April 1, 2018J. Alexander’s reported a 3.5% increase in net sales for quarter one of 2018 compared to the same quarter last year, as well as average weekly same stores sales increases for J. Alexander’s/Grill restaurants and Stoney River Steakhouse and Grill Restaurants. However, net income was down to $1.59 million compared the $2.68 million for the first quarter of 2017. The company opened a new J. Alexander’s location in Pennsylvania and is in the process of constructing a new Stoney River Steakhouse and Grill in Michigan set to open in the fourth quarter of 2018. May 4, 2018--(RestaurantNewsResource) J. Alexander’s Holdings, Inc. (NYSE: JAX), owner and operator of a collection of restaurants which includes J. Alexander’s, Redlands Grill, Stoney River Steakhouse and Grill and selected other restaurants, today reported financial results for the first quarter ended April 1, 2018. First Quarter 2018 Highlights Compared to the First Quarter Of 2017

1. Net sales were $61,909,000, an improvement of 3.5% from $59,822,000 recorded in the first quarter of 2017.

2. For the J. Alexander’s/Grill restaurants, average weekly same store sales per restaurant (1)were $120,100, a gain of 0.3% from $119,800 reported in the first quarter of 2017. For the Stoney River Steakhouse and Grill restaurants, average weekly same store sales reached $83,700, an increase of 6.2% from $78,800 reported in the corresponding quarter of 2017.

3. Income from continuing operations before income taxes was $1,842,000 for the first quarter of 2018 compared to income from continuing operations before income taxes of $3,641,000 for the first quarter of 2017. Among the primary factors impacting income from continuing operations before income taxes for the most recent quarter was the quarterly valuation of the Black Knight Advisory Services, LLC (“Black Knight”) profits interest grant, which resulted in a profits interest expense of $1,907,000. This compared to income of $39,000 in the same quarter a year ago. The Black Knight profits interest grant was issued in October 2015 and requires a quarterly valuation. The non-cash expense (income) associated with this grant is being recognized over a three‐year vesting period which runs through October 6, 2018. It is calculated each quarter based upon the most recent valuation performed using the Black‐Scholes valuation model, with any cumulative change associated with the most recent valuation impacting the most recent quarter. Primarily due to the $11.45 per share closing price of the Company’s stock at the end of the most recent quarter, the grant’s valuation increased from $4,876,000 at December 31, 2017 to $6,684,000 at April 1, 2018. The Company also incurred consulting fees of $244,000 under its management agreement with Black Knight for the most recent quarter. This compares to consulting fees of $265,000 in the first quarter of 2017.

4. During the first quarter of 2018, the Company’s income from continuing operations before income taxes was also impacted by transaction expenses of $926,000 related primarily to the proposed acquisition of the Ninety Nine Restaurant and Pub concept originally announced in August 2017. On February 1, 2018, the Company announced that it did not receive the required number of disinterested shareholder votes to approve the proposed acquisition, and the merger agreement was thereafter terminated. The transaction expenses were primarily related to professional fees for work performed during the first quarter of 2018.

5. Net income for the first quarter of 2018 was $1,593,000, down from net income of $2,684,000 achieved in the comparable quarter of 2017. Results for the most recent quarter include an income tax provision of $138,000 compared to an income tax provision of $844,000 in the same quarter of 2017, with the decrease being primarily attributable to the impact of the decrease in the federal tax rate as a result of the passage of the Tax Cuts and Jobs Act of 2017.

6. Basic and diluted earnings per share totaled $0.11 for the first quarter of 2018 compared to $0.18 recorded in the first quarter of 2017.

7. Adjusted EBITDA(2)improved 7.2% from $7,601,000 in the first quarter of 2017 to $8,151,000 in the first quarter of 2018.

8. Restaurant Operating Profit Margin (3)as a percent of net sales was 15.9% in both the first quarter of 2018 as well as the first quarter of 2017.

9. Cost of sales as a percentage of net sales in the first quarter of 2018 was 31.1% compared to 30.8% in the corresponding quarter of 2017. For the first quarter of 2018, the Company’s restaurant labor and related costs as a percentage of net sales were 29.4% as compared to 30.0% of net sales in the first quarter of 2017. Other restaurant operating expenses were 19.4% of net sales in the first quarter of 2018 as compared to 19.3% of net sales in the same quarter of 2017. The Company’s operating income for the first quarter of 2018 was $2,058,000 compared to operating income of $3,794,000 posted in the first quarter of 2017. The average weekly guest counts within the same store base of the Company’s J. Alexander’s/Grills collection were down 2.0% in the first quarter of 2018 compared to the first quarter a year earlier. Guest counts within the same store base at the Company’s Stoney River Steakhouse and Grill restaurants were up 8.3% for the first quarter of 2018 compared to the first quarter of 2017. With respect to average guest checks, which include alcoholic beverage sales, the average guest check within the J. Alexander’s/Grills same store base of restaurants during the first quarter of 2018 was $31.86, up 2.5% from $31.08 during the first quarter of 2017. The average guest check within the same store base of Stoney River Steakhouse and Grill restaurants totaled $42.87 during the first quarter of 2018, down 1.7% from $43.63 recorded in the same quarter of 2017. On a consolidated basis, average weekly guest counts within the Company’s J. Alexander’s/Grills locations in the first quarter of 2018 were down 2.5% from the first quarter of 2017 while average weekly guest counts within the Company’s Stoney River Steakhouse and Grill locations advanced 8.7% for the first quarter of 2018 compared to the first quarter of 2017. Average guest checks for the combined J. Alexander’s/Grills concepts rose 2.5% from $31.12 in the first quarter of 2017 to $31.89 for the first quarter of 2018. Average guest checks for the Stoney River Steakhouse and Grill restaurants decreased 2.2% from $43.60 in the first quarter of 2017 to $42.66 in the first quarter of 2018. The effect of menu pricing for the first quarter of 2018 was estimated to be a 1.8% increase for the J. Alexander’s/Grills restaurants and a 0.2% increase for the Stoney River Steakhouse and Grill restaurants compared to the corresponding quarter of 2017. Inflation in food costs for the first quarter of 2018 was estimated to total 2.9% for the J. Alexander’s/Grills restaurants, with beef costs increasing by an estimated 2.7% compared to the first quarter of 2017. For the Stoney River Steakhouse and Grill restaurants, inflation for the first quarter of 2018 was estimated to total 2.8%, with beef costs up by approximately 3.0% over the first quarter of 2017. Chief Executive Officer’s Comments “We are pleased to report another quarter of growth in same store sales,” said Lonnie J. Stout II, President and Chief Executive Officer of J. Alexander’s Holdings, Inc. “We are particularly encouraged with the progress we’re seeing within our Stoney River restaurants as we continue to expand our lunch and brunch offerings in markets that we determine are able to support such business. Our lunch and brunch menus typically include lower priced entrée offerings, which by design drives down the average guest check. However, we firmly believe that the more often our guests visit our restaurants, the more likely it is that these guests will become part of the foundational base upon which all of our successful locations have historically been established.” Stout noted that six of the Stoney River restaurants are now serving lunch while nine of the locations offer brunch at least one day each weekend. “As indicated in our last earnings release, we were confronted with extremely harsh winter weather in several of our Midwestern and Southern markets during the first quarter of 2018. The severity of weather conditions, particularly in January and February, forced restaurant closings for 27 days and resulted in estimated lost revenue of approximately $400,000 in the first quarter of 2018 across the Company. This compared to only three days of weather related restaurant closings and estimated lost revenue of $40,000 in the first quarter of 2017.” Stout pointed out that severe weather, primarily during January and February, also affected restaurant guest counts in the most recent quarter. As noted above, guest counts within the J. Alexander’s/Grills collection same store base of restaurants were down 2.0%, with over half of the decrease attributed to the impact of severe winter weather on days which the J. Alexander’s/Grills restaurants remained open for business but traffic, and thus revenue, was adversely affected. He noted that management estimates that an additional $600,000 in net sales were lost as a result of severe winter weather on days where the decision was made to open for at least a portion of the day, but added that guest counts for this group of restaurants improved each month during the quarter and have been slightly positive during the first few weeks of April. “Also during the most recent quarter,” Stout noted, “our cost of sales reflected modest increases in beef costs, which were up 2.7% in our J. Alexander’s/Grills collection and 3.0% in our Stoney River Steakhouse and Grill restaurants.” The increase in input costs in the first quarter of 2018 compares to significantly lower beef prices incurred in the same quarter a year earlier. During the first quarter of 2017, beef prices were down 9.8% at J. Alexander’s/Grills restaurants and 7.6% at Stoney River Steakhouse and Grill restaurants. “While beef prices during the first quarter of 2018 were at higher levels than the first quarter a year ago,” Stout said, “they were well within our normal range and guidelines. In fact, for certain products, we have seen pricing over the past four-to-six weeks that is running below last year’s cost during the comparable period. An abundance of quality beef is presently available, and we are not having to pay premium prices to ensure that our strict specifications are met. We anticipate that we can hold the line in cost of sales as we look out over the remainder of 2018.” Restaurant Development J. Alexander’s Holdings, Inc. opened a new J. Alexander’s restaurant in King of Prussia, PA on April 30, 2018, marking the Company’s entry into Pennsylvania. The new J. Alexander’s restaurant is approximately 15 miles from Philadelphia. The Company has construction underway on a new Stoney River Steakhouse and Grill in Troy, MI. This new restaurant is expected to open in the fourth quarter of 2018. Guidance For 2018 The following performance outlook is based on current information as of May 3, 2018. The Company does not expect to update the guidance provided as follows before next quarter’s earnings release. However, the information on which the outlook is based is subject to change, and the Company may update its full business outlook or any portion thereof at any time for any reason. Based upon current information, the guidance for the 2018 fiscal year is the same as reported on March 7, 2018 with the exception of the Company’s estimated effective tax rate, which has been reduced from the original guidance range of 10% - 16% to the current range of 1% - 7%. About J. Alexander’s Holdings, Inc. J. Alexander’s Holdings, Inc. is a collection of restaurants that focus on providing high quality food, outstanding professional service and an attractive ambiance.
   

The Company presently operates 45 restaurants in 16 states.

Dine Brands Global, Inc. Reports First Quarter 2018 ResultsDine Brands Global reported positive same store sales for both brands during the first quarter of 2018, with Applebee’s reporting same store sale increases of 3.3% and IHOP reporting 1.0% growth. This is the second consecutive quarter of reported growth for both brands. May 2, 2018--(RestaurantNewsResource) Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood Grill & Bar and IHOP restaurants, today announced financial results for the first quarter of fiscal 2018. "We are leveraging the benefit of our asset-lite business model to invest in the growth of our brands and build on recent momentum.  Both Applebee's and IHOP achieved positive same-restaurant sales for the first quarter and outperformed their respective categories.  This marks the second consecutive quarter of sales improvement for each brand.  We are very pleased with the results and encouraged that the first-quarter trends for both brands continued through April," said Steve Joyce, Chief Executive Officer of Dine Brands Global, Inc. Mr. Joyce continued, "Looking ahead, we are acting on several strategic initiatives, such as enhancing our data and analytics capabilities, to drive sustainable positive sales performance and create significant value for our shareholders and franchisees.  Supported by a performance-based culture and the addition of significant leadership talent, we have established clear goals for our brands, which will drive long-term success." First Quarter of Fiscal 2018 Financial Highlights

1. GAAP net income available to common stockholders increased approximately 8% to $16.5 million, or earnings per diluted share of $0.92 for the first quarter of 2018. This compares to net income available to common stockholders of $15.3 million (as adjusted for the adoption of new accounting revenue guidance titled Accounting Standards Codification 606 "Revenues from Contracts with Customers"), or earnings per diluted share of $0.86, for the first quarter of fiscal 2017. The increase in net income was primarily due to a decline in general and administrative expenses and a reduction in our effective corporate tax rate following the enactment of the Tax Cuts and Jobs Act tax legislation in December 2017. These items were substantially offset by lower segment profit primarily due to an increase of $13.5 million in franchisor contributions to the Applebee's national advertising fund in the first quarter of 2018.

2. Adjusted net income available to common stockholders was $19.8 million, or adjusted earnings per diluted share of $1.11, for the first quarter of fiscal 2018. This compares to adjusted net income available to common stockholders of $22.8 million (as adjusted for the adoption of Accounting Standards Codification 606), or adjusted earnings per diluted share of $1.28, for the first quarter of fiscal 2017. The decrease in adjusted net income was mainly due to lower gross profit resulting from an increase of $13.5 million in franchisor contributions to the Applebee's national advertising fund, partially offset by our lower federal tax rate and positive same-restaurant sales for both brands. (See "Non-GAAP Financial Measures" below.)

3. General and administrative expenses declined to approximately $41.9 million for the first quarter of fiscal 2018 compared to $50.3 million for the first quarter of fiscal 2017. The decrease was primarily due to lower personnel costs due to non-recurring executive separation costs in the first quarter of 2017.

4. Cash flows from operating activities were approximately $16.5 million for the first quarter of fiscal 2018 compared to approximately $19.5 million for the first quarter of fiscal 2017. The decline was primarily due to slightly lower net income and changes in working capital. Adjusted free cash flow was $15.3 million for the first quarter of fiscal 2018. This compares to $19.2 million for the first quarter of fiscal 2017. (See "Non-GAAP Financial Measures" below.) Same-Restaurant Sales Performance First Quarter of Fiscal 2018

5. Applebee's domestic system-wide comparable same-restaurant sales increased 3.3% for the first quarter of 2018.

6. IHOP's domestic system-wide comparable same-restaurant sales increased 1.0% for the first quarter of 2018. Financial Performance Guidance for Fiscal 2018 Dine Brands reiterates its financial performance guidance for fiscal 2018 contained in the press release issued on February 20, 2018 and the Form 8-K filed on the same day. About Dine Brands Global, Inc.

Dine Brands Global reported positive same store sales for both brands during the first quarter of 2018, with Applebee’s reporting same store sale increases of 3.3% and IHOP reporting 1.0% growth. This is the second consecutive quarter of reported growth for both brands.

Yum! Brands Reports First-Quarter GAAP Operating Profit Growth of 14%

Flat First-Quarter Core Operating Profit Growth; Maintains All Aspects of Full-Year GuidanceFlat First-Quarter Core Operating Profit Growth; Maintains All Aspects of Full-Year Guidance May 2, 2018--(RestaurantNewsResource) Yum! Brands, Inc. (NYSE: YUM) today reported results for the first quarter ended March 31, 2018. First-quarter GAAP EPS was $1.27, an increase of 66%. First-quarter EPS excluding Special Items was $0.90, an increase of 38%. GREG CREED COMMENTS Greg Creed, CEO, said “As we begin the second full year of our transformation journey, I’m pleased with our progress towards becoming a more focused, more franchised and more efficient company. As a result of the timing mismatch between refranchising and associated G&A savings and the new revenue recognition accounting standard, core operating profit growth was flat, which is consistent with our expectations. We’re maintaining all aspects of our full-year 2018 guidance and remain confident that this transformation is building a strong foundation for long-term growth and will deliver increased returns for our stakeholders.” FIRST-QUARTER HIGHLIGHTS

1. Worldwide system sales excluding foreign currency translation grew 4%, with KFC at 6%, Taco Bell at 4% and Pizza Hut at 2%.

2. We opened 239 net new units for 3% net new unit growth.

3. We refranchised 144 restaurants, including 52 KFC, 43 Pizza Hut and 49 Taco Bell units, for pre-tax proceeds of $205 million. We recorded net refranchising gains of $156 million in Special Items. As of quarter end, our global franchise ownership mix was 97%.

4. We repurchased 6.5 million shares totaling $528 million at an average price of $81.

5. We reflected the change in fair value of our investment in Grubhub by recording $66 million of pre-tax investment income, resulting in $0.16 in EPS.

6. Foreign currency translation favorably impacted divisional operating profit by $16 million.

7. 
   

All comparisons are versus the same period a year ago. As required, we adopted a new accounting standard on revenue recognition effective January 1, 2018. Prior year results have not been restated for this change. See the Other Items section of this release for further details. System sales growth figures exclude foreign currency translation (“F/X”) and core operating profit growth figures exclude F/X and Special Items. Special Items are not allocated to any segment and therefore only impact worldwide GAAP results. See reconciliation of Non-GAAP Measurements to GAAP Results within this release for further details YUM! Brands, Inc. Condensed Consolidated Summary of Results (unaudited)

(amounts in millions, except per share amounts)

McDonald's Q1 Global Comparable Sales Up 5.5%

McDonald's Q1 Global Comparable Sales Up 5.5%McDonald’s reported global comparable sales up 5.5% and guest counts up 0.8% for quarter 1 of 2018. Consolidated revenues decreased 9% due to the company’s strategic refranchising initiative. Domestically, comparable sales increased 2.9%. April 30, 2018--(HotelNewsResource) McDonald's Corporation today announced results for the first quarter ended March 31, 2018. "We continued to build upon the broad-based momentum of our business, marking 11 consecutive quarters of positive comparable sales and our fifth consecutive quarter of positive guest counts," said McDonald's President and Chief Executive Officer Steve Easterbrook. "More customers are recognising that we are becoming a better McDonald's, appreciating our great tasting food, fast and friendly service and compelling value as we execute our Velocity Growth Plan." First quarter highlights:

1. Global comparable sales increased 5.5% and global comparable guest counts increased 0.8%

2. Due to the impact of the Company's strategic refranchising initiative, consolidated revenues decreased 9% (15% in constant currencies)

3. Systemwide sales increased 7% in constant currencies

4. Consolidated operating income increased 5% (flat in constant currencies) due to growth in franchised margin dollars, offset by the impact of the Company's strategic refranchising initiative

5. Diluted earnings per share of $1.72 increased 17% (12% in constant currencies), reflecting $0.07 per share of additional income tax expense associated with adjustments to the provisional amounts recorded in December 2017 under the Tax Cuts and Jobs Act of 2017 ("Tax Act"). Excluding this impact, diluted earnings per share was $1.79, an increase of 22% (16% in constant currencies)

6. Returned $2.5 billion to shareholders through share repurchases and dividends In the U.S., first quarter comparable sales increased 2.9% driven by growth in average check resulting from menu price increases and product mix shifts. Operating income for the quarter increased 5%, reflecting higher franchised margin dollars and higher gains on sales of restaurant businesses, partly offset by lower Company-operated margin dollars. Comparable sales for the International Lead segment increased 7.8% for the quarter, reflecting positive results across all markets, primarily driven by the U.K. and Germany. The segment's operating income increased 21% (9% in constant currencies), fueled by sales-driven improvements in franchised margin dollars. In the High Growth segment, first quarter comparable sales increased 4.7%, led by strong performance in China and Italy and positive results across most of the segment, partly offset by continued challenges in South Korea. In the Foundational markets, first quarter comparable sales rose 8.7%, reflecting positive sales performance across all geographic regions. Steve Easterbrook concluded, "We're keeping the customer at the centre of everything we do as we continue enhancing their McDonald's experience. Guided by our Velocity Growth Plan, we are satisfying the rising expectations customers have for the taste and quality of our food and greater convenience as they visit our restaurants or enjoy meals delivered to their homes and offices. We are confident in the strategies guiding our business for today and for long-term sustained growth into the future." KEY HIGHLIGHTS - CONSOLIDATED (Dollars in millions, except per share data)
   

Results for the quarter reflected an increase in sales-driven franchised margin dollars and the benefit from a lower effective tax rate, partly offset by lower Company-operated margin dollars driven by refranchising. Results included approximately $52 million, or $0.07 per share, of additional income tax expense associated with adjustments to the provisional amounts recorded in December 2017 under the Tax Act. Excluding these adjustments, net income was $1,427.7 million, an increase of 18% (12% in constant currencies), and diluted earnings per share was $1.79, an increase of 22% (16% in constant currencies). Foreign currency translation had a positive impact of $0.08 for the quarter on diluted earnings per share. McDONALD'S CORPORATION – CONDENSER CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)

(Dollars in millions, except per share data)

Dunkin' Brands Reports First Quarter 2018 ResultsDunkin’ Brands reported declines in domestic same store sales for both brands for quarter 1 of 2018, with Dunkin’ Donuts declining 0.5% and Baskin Robins declining 1.0%. The company reported adding 71 net new locations globally, including 56 in the U.S. The company also reported entering into a $650 million accelerated share repurchase agreement. April 26, 2018--CANTON, MA--(PRNewswire) First quarter highlights include:

1. Dunkin' Donuts completed the roll out of menu simplification across 100% of the U.S. system

2. Dunkin' Donuts U.S. comparable store sales decline of 0.5%

3. Baskin-Robbins U.S. comparable store sales decline of 1.0%

4. Added 71 net new Dunkin' Donuts and Baskin-Robbins locations globally including 56 net new Dunkin' Donuts in the U.S.

5. Revenues increased 1.7%

6. Diluted EPS increased by $0.09 to $0.57

7. Diluted adjusted EPS increased by $0.11 to $0.62

8. Company entered into $650 million accelerated share repurchase agreement Dunkin' Brands Group, Inc. (Nasdaq: DNKN), the parent company of Dunkin' Donuts (DD) and Baskin-Robbins (BR), today reported results for the first quarter ended March 31, 2018. "In the first quarter of 2018, we made great headway with numerous strategic growth initiatives, including opening 56 net new Dunkin' Donuts in the U.S., continuing our trend as one of the nation's fastest growing retail brands by unit count; the unveiling of our next-generation Dunkin' Donuts store design; and surpassing $220 million in retail sales of CPG products across both brands," said Nigel Travis, Chairman and Chief Executive Officer, Dunkin' Brands Group, Inc. "These accomplishments were achieved against a tough backdrop of intense competitive activity and adverse weather, which, along with the national roll-out of menu simplification, negatively impacted Dunkin' Donuts U.S. comparable store sales. Going forward we believe we have the right plans in place, as well as the full alignment of our franchisees, to position ourselves for growth both now and for the long-term." "We are pleased with the progress we made in the first quarter with our plan to transform Dunkin' Donuts U.S. into a beverage-led, on-the-go brand," said Dave Hoffmann, President of Dunkin' Donuts U.S. "Not only did we complete the national roll out of menu simplification, which should improve customer service and franchisees' profitability, but we also had record-breaking breakfast sandwich sales, saw an improvement in our afternoon traffic as a result of our PM beverage break offers, conducted successful value menu tests leading to a national launch in April, and drove flavored coffee and espresso sales with our innovative Girl Scout partnership." "We are pleased to have entered into a $650 million accelerated share repurchase program d,uring the first quarter," said Kate Jaspon, Dunkin' Brands Chief Financial Officer. "The accelerated share repurchase illustrates our continued commitment to utilize our strong balance sheet to return capital to shareholders."
   

Global systemwide sales growth of 5.1% in the first quarter was primarily attributable to global store development and Baskin-Robbins International comparable store sales growth. Dunkin' Donuts U.S. comparable store sales in the first quarter declined 0.5% as an increase in average ticket was offset by a decline in traffic. From a category standpoint, beverage sales growth was driven by the introduction of Girl Scout cookie-inspired coffee flavors and afternoon break value offers which helped grow total espresso and iced coffee sales. Breakfast sandwich sales were driven by successful value menu tests. Baskin-Robbins U.S. comparable store sales declined 1.0% during the first quarter as an increase in average ticket was offset by a decline in traffic. Beverage sales were up during the quarter driven by shakes, smoothies and Cappuccino Blast. In the first quarter, Dunkin' Brands franchisees and licensees opened 71 net new restaurants globally. This included 56 net new Dunkin' Donuts U.S. locations, 6 net new Baskin-Robbins U.S. locations, 5 net new Baskin-Robbins International locations and 4 net new Dunkin' Donuts International locations. Additionally, Dunkin' Donuts U.S. franchisees remodeled 55 restaurants and Baskin-Robbins U.S. franchisees remodeled 26 restaurants during the quarter. Revenues for the first quarter increased $5.0 million, or 1.7%, compared to the prior year period due primarily to increased royalty income as a result of systemwide sales growth, as well as an increase in advertising fees and related income, offset by a decrease in sales of ice cream and other products. Operating income and adjusted operating income for the first quarter increased $3.1 million, or 3.5%, and $3.6 million, or 3.9%, respectively, from the prior year period primarily as a result of the increase in royalty income and a reduction of general and administrative expenses. These increases in operating income and adjusted operating income were offset by a decrease in net income from our South Korea joint venture, a decrease in net margin on ice cream due primarily to an increase in commodity costs, and a gain recognized in connection with the sale of real estate in the prior year period. Net income and adjusted net income for the first quarter increased by $5.9 million, or 13.2%, and $6.9 million, or 14.4%, respectively, compared to the prior year period primarily as a result of a decrease in income tax expense and the increases in operating income and adjusted operating income. The decrease in income tax expense was driven by a lower tax rate due to the enactment of the Tax Cuts and Jobs Act in the fourth quarter of fiscal year 2017 and excess tax benefits from share-based compensation of $7.6 million compared to $6.1 million in the prior year period. The increases in net income and adjusted net income were offset by an increase in net interest expense driven by additional borrowings incurred in conjunction with the refinancing transaction completed during the fourth quarter of fiscal year 2017. Diluted earnings per share and diluted adjusted earnings per share for the first quarter increased by 18.8% to $0.57 and 21.6% to $0.62, respectively, compared to the prior year period as a result of the increases in net income and adjusted net income, respectively, as well as a decrease in shares outstanding. The decrease in shares outstanding from the prior year period was due primarily to the repurchase of shares since the first quarter of fiscal year 2017, offset by the exercise of stock options. Excluding the impact of recognized excess tax benefits, diluted earnings per share and diluted adjusted earnings per share for the first quarter of fiscal years 2018 and 2017 would have been lower by approximately $0.09 and $0.06, respectively. About Dunkin' Brands Group, Inc.

With more than 20,000 points of distribution in more than 60 countries worldwide, Dunkin' Brands Group, Inc. (Nasdaq:DNKN) is one of the world's leading franchisors of quick service restaurants (QSR) serving hot and cold coffee and baked goods, as well as hard-serve ice cream. At the end of the first quarter 2018, Dunkin' Brands' 100 percent franchised business model included more than 12,500 Dunkin' Donuts restaurants and more than 7,900 Baskin-Robbins restaurants. Dunkin' Brands Group, Inc. is headquartered in Canton, Mass.

Starbucks Reports Record Q2 Fiscal 2018 Results

Q2 Comp Store Sales Up 2% Globally and in the U.S., Up 4% in China - Consolidated Net Revenues Up 14% to a Record $6.0 BillionQ2 Comp Store Sales Up 2% Globally and in the U.S., Up 4% in China - Consolidated Net Revenues Up 14% to a Record $6.0 Billion April 27, 2018--(RestaurantNewsResource) Starbucks Corporation (NASDAQ: SBUX) reported financial results for its 13-week fiscal second quarter ended April 1, 2018. GAAP results in fiscal 2018 and fiscal 2017 include items which are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. Q2 Fiscal 2018 Highlights

1. Global comparable store sales increased 2%, driven by a 3% increase in average ticket

2. Americas and U.S. comp store sales increased 2%

3. CAP comp store sales increased 3%

4. China comp store sales increased 4%

5. Consolidated net revenues of $6.0 billion, up 14% over the prior year including:

6. 3% net benefit from consolidation of the recently acquired East China business and other streamline-driven activities, including Teavana mall store closures, the Tazo divestiture, and the conversion of certain international retail operations from company-owned to licensed models

7. 2% benefit from foreign currency translation

8. GAAP operating margin, inclusive of restructuring and impairment charges, declined to 12.8%, down 490 basis points compared to the prior year

9. Non-GAAP operating margin of 16.2% declined 170 basis points compared to the prior year

10. GAAP Earnings Per Share of $0.47, up 4% over the prior year

11. Non-GAAP EPS of $0.53, up 18% over the prior year

12. The Starbucks RewardsTMloyalty program added 1.6 million active members in the U.S., up 12% over the prior year

13. Starbucks RewardsTMmember spend increased to 39% of U.S. company-operated sales; Mobile Order and Pay represented 12% of U.S. company-operated transactions

14. The company opened 468 net new Starbucks stores in Q2 and now operates 28,209 stores across 76 markets. During the quarter, the company also closed 298 Teavana® stores

15. The company returned $2.0 billion to shareholders in the quarter through a combination of dividends and share repurchases “Starbucks Q2 of fiscal 2018 represented another quarter of record financial results, highlighted by accelerating momentum across our Americas business - particularly in the U.S., continued strong performance in China and our strongest comp growth in Japan in five quarters,” said Kevin Johnson, president and ceo. “At the same time we made measurable progress against each of the strategic initiatives that position Starbucks to continue delivering best-in-class operating and financial results long into the future.” “We have a clear set of actions underway to improve profitability through a combination of comp and beverage growth and savings across COGS, waste and labor as we move through the back half of the year,” said Scott Maw, cfo. “We are continuing to invest in our business - strategically and with a ‘long game’ mentality - while at the same time taking decisive near-term action to maximize our brand portfolio and ensure that we continue to deliver outsized returns to our shareholders in the quarters and years ahead.”
    

Consolidated net revenues grew 14% over Q2 FY17 to $6.0 billion in Q2 FY18, primarily driven by incremental revenues from the impact of our ownership change in East China, incremental revenues from 2,103 net new Starbucks store openings over the past 12 months, and 2% growth in global comparable store sales. Consolidated operating income declined 17% to $772.5 million in Q2 FY18, down from $935.4 million in Q2 FY17. Consolidated operating margin declined 490 basis points to 12.8%, primarily due to restructuring and impairments, food-related mix shift primarily in the Americas segment, higher investments in our store partners (employees), and the impact of our ownership change in East China. Company Updates

1. Starbucks announced it will close more than 8,000 company-owned stores and its corporate offices in the U.S. on May 29 to conduct racial-bias training for all partners (employees) in the U.S. The training will be provided to nearly 175,000 partners (employees) across the country and will become part of the onboarding process for new partners. Once complete, the company will make the education materials available to other companies, including its licensees.

2. The company hosted its 26th Annual Meeting of Shareholders on March 21 in Seattle. The company announced that Starbucks had reached 100 percent pay equity for partners of all genders and races performing similar work across the U.S.

3. In partnership with Closed Loop Partners and its Center for the Circular Economy, Starbucks committed $10 million in March to establish a groundbreaking consortium launching the NextGen Cup Challenge. Through the NextGen Cup Challenge, the consortium will award accelerator grants to promote the development of more sustainable cup solutions and invite industry participation and partnership on the way to identifying a global solution.

4. The company announced that it had entered into an agreement with SouthRock Capital Ltda – a leading multi-brand restaurant operator in Brazil – to fully license Starbucks retail operations in Brazil. The agreement provides SouthRock the rights to develop and operate Starbucks stores across the country. With the transition of ownership in Brazil, Starbucks retail operations across all markets in Latin America and the Caribbean became wholly licensed.

5. In March Starbucks opened the doors to its 46,000-square foot Hacienda Alsacia Visitor Center, located on the grounds of its Costa Rican coffee farm.

6. The company opened its Starbucks ReserveTMCoffee SODO store in Seattle on February 27, inviting visitors to take a journey of discovery with small-lot Starbucks ReserveTM coffees and PrinciTM This location is the first of the company’s new Starbucks Reserve store concept, introducing a marketplace-style environment to showcase its premium Starbucks Reserve brand.

7. In February, Starbucks and Chase announced the availability of the Starbucks RewardsTMVisa® Card, a co-brand credit card integrated directly into the Starbucks RewardsTM loyalty program. The new credit card is an expansion of the ongoing relationship between the two companies. Chase Merchant Services is the payment processing partner for Starbucks stores in the U.S. and Canada, and Chase Pay is accepted at participating Starbucks stores in the U.S., as well as through the Starbucks mobile app.

8. For the 12th consecutive year, Starbucks was named one of the World’s Most Ethical Companies by the Ethisphere Institute in February. Separately, Starbucks was named the fifth most admired company in the world by Fortune magazine in January. This is the 16th year in a row that Starbucks has appeared on Fortune’s global list.

9. The company closed an underwritten public offering of $1 billion of 3.100% senior notes due 2023 and $600 million of 3.500% senior notes due 2028. The company plans to use the net proceeds for general corporate purposes, including the repurchase of Starbucks common stock under the company’s ongoing share repurchase program, business expansion, payment of cash dividends on Starbucks common stock, or the financing of possible acquisitions.

10. The company repurchased 27.4 million shares of common stock in Q2 FY18; the company's Board of Directors has authorized an additional 100 million shares for repurchase under its ongoing share repurchase program. With the additional 100 million shares, the company now has approximately 124 million shares available for purchase under current authorizations.

11. The Board of Directors declared a cash dividend of $0.30 per share, payable on May 25, 2018, to shareholders of record as of May 10, 2018. About Starbucks

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup.

The Cheesecake Factory Reports Results for First Quarter of Fiscal 2018

Comparable restaurant sales at The Cheesecake Factory restaurants increased 2.1% in the first quarter of fiscal 2018.The Cheesecake Factory reported comparable store sales increase of 2.1% for the first quarter of 2018, as well as increases in revenue from $563.4 million in Q1 2017 to $590.7 in Q1 2018. The company expects to open 4 to 6 units in 2018 and announced international licensing agreements in Beijing and Saudi Arabia. April 26, 2018--(RestaurantNewsResource) The Cheesecake Factory Incorporated (NASDAQ: CAKE) today reported financial results for the first quarter of fiscal 2018, which ended on April 3, 2018. Total revenues were $590.7 million in the first quarter of fiscal 2018 as compared to $563.4 million in the first quarter of fiscal 2017. Net income and diluted net income per share were $26.0 million and $0.56, respectively, in the first quarter of fiscal 2018. Comparable restaurant sales at The Cheesecake Factory restaurants increased 2.1% in the first quarter of fiscal 2018. “Comparable sales at The Cheesecake Factory were very strong during the first quarter and meaningfully outperformed the casual dining industry,” said David Overton, Chairman and Chief Executive Officer. “However, increased labor costs to support the better guest traffic levels, as well as higher than expected insurance costs, impacted our bottom line results this quarter.” Overton continued, “Consistent with our long-term approach, we are making investments to maintain our high level of food quality, service and hospitality, which we believe will continue to differentiate us in the industry. In fact, The Cheesecake Factory was again named brand of the year in the casual dining category of the Harris Poll EquiTrend® study, underscoring the continued relevance of the brand and our strong guest affinity. We were pleased to see these attributes reflected in our sales trend during the first quarter and believe we can continue to take share in 2018, which will better position us to manage through the cost pressures.” The Company continues to expect to open as many as four to six restaurants in fiscal 2018, including one Grand Lux Cafe, as well as the first location of a fast casual concept the Company is developing internally. The first restaurant opening is expected in the third quarter of fiscal 2018. In addition, the Company now expects as many as four restaurants to open internationally under licensing agreements in fiscal 2018. This includes the first location in Beijing, which opened in January, and the second location in Saudi Arabia, which is scheduled to open soon. Capital Allocation The Company’s Board of Directors declared a quarterly cash dividend of $0.29 per share on the Company’s common stock. The dividend is payable on May 22, 2018 to shareholders of record at the close of business on May 10, 2018. During the first quarter of fiscal 2018, the Company repurchased approximately 0.7 million shares of its common stock at a cost of $34.9 million. About The Cheesecake Factory Incorporated

The Cheesecake Factory Incorporated created the upscale casual dining segment in 1978 with the introduction of its namesake concept. The Company, through its subsidiaries, owns and operates 214 full-service, casual dining restaurants throughout the U.S.A., including Puerto Rico, and Canada, comprised of 199 restaurants under The Cheesecake Factory® mark; 13 restaurants under the Grand Lux Cafe® mark; and two restaurants under the RockSugar Southeast Asian Kitchen® mark (formerly known as Rock Sugar Pan Asian Kitchen®). Internationally, 20 The Cheesecake Factory® restaurants operate under licensing agreements. The Company’s bakery division operates two bakery production facilities, in Calabasas Hills, CA and Rocky Mount, NC, that produce quality cheesecakes and other baked products for its restaurants, international licensees and third-party bakery customers.

Restaurant Brands International Inc. Reports First Quarter 2018 Results

For the first quarter of 2018, system-wide sales growth was driven by net restaurant growth of 6.7% and comparable sales of 3.2%, which was primarily driven by US comparable sales of 2.3%.Restaurant Brands International (RBI) reported 3.2% comparable sales growth and 6.7% net restaurant growth for quarter one of 2018, including 2.3% comparable sales growth in the U.S. All three RBI brands, Burger King (11.3%), Popeyes (10.9%) and Tim Hortons (2.1%) reported system wide sales growth for the quarter. April 24, 2018--(RestaurantNewsResource) Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) today reported financial results for the first quarter ended March 31, 2018. Daniel Schwartz, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "During the first quarter, we continued to grow system-wide sales for each of our three iconic brands, and we have developed strong plans with our partners to further accelerate growth for the long term. At TIM HORTONS®, though results were soft, we have high conviction that our 'Winning Together' plan unveiled today will improve guest experience and drive sales and profitability for our restaurant owners. For BURGER KING®, we built upon our recent sales momentum and further accelerated our net restaurant growth. At POPEYES®, we improved comparable sales in the US, and announced our first international development agreement for the brand in Brazil. We continue to see a lot of growth potential for each of our three brands, and through our focus on enhancing guest satisfaction and franchisee profitability, we believe that we will create value for all of our stakeholders for many years to come."

Revenue Recognition Update Effective January 1, 2018, we adopted the new revenue recognition accounting standard ("New Standard"). Our consolidated financial statements for 2018 reflect the application of the New Standard, while our consolidated financial statements for 2017 were prepared under the guidance of previously applicable accounting standards ("Previous Standards"). Our results presented herein indicate which revenue recognition methodology applies in each respective period. The most significant changes of this adoption that affect comparability of our results of operations between 2018 and 2017 include a change in the timing of franchise fee revenue recognition and the reflection of advertising fund contributions and expenses. Under Previous Standards, we recognized franchise fees when we performed all material obligations and services, which generally occurred when franchised restaurants opened. Under the New Standard, we defer initial and renewal franchise fees and recognize this revenue over the term of the related franchise agreement. Under Previous Standards, we did not reflect advertising fund contributions or advertising fund expenditures in our Consolidated Statement of Operations, and temporary net differences between contributions and expenses were reflected as prepaid assets or accrued liabilities on our consolidated balance sheet. Under the New Standard, advertising fund contributions and expenditures for funds that we manage are reported on a gross basis in our Consolidated Statement of Operations. The implementation of the New Standard also impacted our year-over-year results on a consolidated basis and for each segment as follows:

1. Total Revenues increased as a result of the inclusion of advertising fund contributions, partially offset by a reduction in franchise fee revenues

2. Selling, General, and Administrative Expenses increased as a result of the inclusion of advertising fund expenditures Additionally, for the first quarter, year-over-year results were impacted by the inclusion of Popeyes in our 2018 results.
   

Cash and Liquidity As of March 31, 2018, total debt was $12.3 billion, and net debt (total debt less cash and cash equivalents of $0.9 billion) was $11.4 billion. Effective January 1, 2018, we adopted new guidance related to hedge accounting, which amends hedge accounting recognition and presentation requirements. Most notably, under the new guidance for our net investment hedges, all components not related to spot remeasurements on the notional amount of these instruments are included in interest expense, net, whereas previously they were recorded in other comprehensive income. Additional details about this accounting standard can be found in our Form 10-Q. On April 24, 2018, the RBI Board of Directors declared a dividend of $0.45 per common share and partnership exchangeable unit of Restaurant Brands International Limited Partnership for the second quarter of 2018. The dividend will be payable on July 3, 2018 to shareholders and unitholders of record at the close of business on May 15, 2018. About Restaurant Brands International Inc.

Restaurant Brands International Inc. ("RBI") is one of the world's largest quick service restaurant companies with more than $30 billion in system-wide sales and over 24,000 restaurants in more than 100 countries and U.S. territories. RBI owns three of the world's most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, and POPEYES®. These independently operated brands have been serving their respective guests, franchisees and communities for over 40 years.

Luby's Reports Second Quarter Fiscal 2018 Results

Total sales were $82.2 million, a decrease of 4.8% - Same-store sales decreased 3.7%Luby’s reported same store sales decreases of 3.7% for Q2 of 2018, as well as decreased total sales, which were down 4.8%. The decreases were consistent across the brands major concepts, including decreased same store sales of 1.8% for Luby’s Cafeterias and 6.4% for Fuddruckers, along with decreases sales of 0.8 million for Cheeseburger in Paradise. April 23, 2018--(RestaurantNewsResource) Luby's, Inc. (NYSE: LUB) today announced unaudited financial results for its twelve-week second quarter fiscal 2018, which ended on March 14, 2018. Comparisons in this earnings release for the second quarter fiscal 2018 are referred to as "second quarter." Second Quarter Key Metrics (comparisons to second quarter fiscal 2017)

1. Total sales were $82.2 million, a decrease of 4.8%

2. Same-store sales decreased 3.7%

3. Culinary Contract Services sales increased $3.0 million; Opened three new locations in the second quarter

4. Loss from continuing operations of $11.1 million in the second quarter compared to loss from continuing operations of $12.8 million in the second quarter fiscal 2017

5. Adjusted EBITDA decreased $5.3 million (see non-GAAP reconciliation below)

6. Re-opened one company-owned Fuddruckers location that was restored after Hurricane Harvey and one new Fuddruckers franchise location opened (in Florida) in the second quarter Chris Pappas, President and CEO, commented, "In Culinary Contract Services we opened three new locations and sales increased $3.0 million compared to the second quarter last year. At our restaurant brands, we experienced a transitional quarter compared to the year ago quarter as we reduced the level of discounting and promotional activity while focusing on product quality and service. The change in the level of discounting led to a higher average price per guest, but a decrease in guest traffic in the quarter. We have since renewed our marketing and promotion plans to encourage guest frequency by delivering compelling value offerings, balanced with a pricing and discounting level that we expect will result in improved profit margins. "We also made additional investments in our team members and in research and development during the quarter and our entire team across all of our business segments remains focused on enhancing our guests' experiences through superior service, excellent product quality and variety, and speed of service. In a very competitive restaurant market, we closely evaluate all of our restaurants to enhance performance and to identify underperforming locations. We continue to believe that our iconic restaurant brands remain well positioned for the long-term to enhance our financial performance."
   

1. Luby's Cafeterias sales decreased $2.7 million versus the second quarter fiscal 2017, due to the closure of six locations over the prior year and a 1.8% decrease in Luby's same-store sales. The 1.8% decrease in same-store sales was the result of a 8.6% decrease in guest traffic, partially offset by a 7.5% increase in average spend per guest.

2. Fuddruckers sales at company-owned restaurants decreased $2.9 million versus the second quarter fiscal 2017, due to eight restaurant closings (seven permanent closings and one temporary closing which we re-opened during the second quarter) and a 6.4% decrease in same-store sales. The 6.4% decrease in same-store sales was the result of a 11.8% decrease in guest traffic, partially offset by a 6.0% increase in average spend per guest.

3. Combo location sales decreased $0.3 million, or 5.4%, versus second quarter fiscal 2017.

4. Cheeseburger in Paradise sales decreased $0.8 million. The closure of one location in the first quarter fiscal 2018 reduced sales by $0.4 million and declines in sales at the remaining seven locations reduced sales by $0.4 million.

5. Loss from continuing operations was $11.1 million, or a loss of $0.37 per diluted share, compared to a loss of $12.8 million, or a loss of $0.44 per diluted share, in the second quarter fiscal 2017. Excluding special non-cash items, loss from continuing operations was $5.2 million, or a loss of $0.17 per diluted share, in the second quarter compared to a loss of $2.1 million, or $0.07 per diluted share, in the second quarter fiscal 2017. Loss from continuing operations, excluding special items, is a non-GAAP measure, and reconciliation to loss from continuing operations is presented on page 10 of this release.

6. Store level profit, defined as restaurant sales plus vending revenue less cost of food, payroll and related costs, other operating expenses, and occupancy costs, was $5.7 million, or 7.7% of restaurant sales, in the second quarter compared to $10.2 million, or 12.6% of restaurant sales, during the second quarter fiscal 2017. The decline in store level profit was primarily the result of the decline in same-store sales combined with increased investment in hourly labor, restaurant supplies, and repairs and maintenance. The decline in same-store sales was partially impacted by a significant reduction in menu item discounting and reduced promotional activity compared to the second quarter fiscal 2017. In addition, we accepted a reduced level of catering orders, re-directing focus on our restaurant teams excelling at core operations within the restaurant. Furthermore, sales were adversely impacted to a lesser extent by a disruption in our point of sale system functioning which also affected our volume of mobile ordering through third party channels. The increase in hourly labor was due in part to a concerted effort to reinvest in training programs as well as continue to increase the service level offered to our guests. The increase in restaurant supplies and repairs and maintenance was part of our program to refresh our stores in lieu of completing full remodels in the current fiscal year. Store level profit is a non-GAAP measure, and reconciliation to loss from continuing operations is presented after the financial statements.

7. Culinary Contract Services revenues increased by $3.0 million to $6.3 million with 24 operating locations during the second quarter. New Culinary Contract Services locations and retail sales combined contributed approximately $3.7 million (primarily driven by the addition of one higher sales volume location) in revenue which was partially offset by a $0.5 million decrease in revenue from locations that ceased operations and an approximate $0.2 million decrease in revenue at locations continually operated over the prior full year. Culinary Contract Services profit margin decreased to 9.5% of Culinary Contract Services sales in the second quarter compared to 10.5% in the second quarter fiscal 2017.

8. Franchise revenue decreased $418 thousand, or 23.0%, in the second quarter compared to the second quarter fiscal 2017. The decrease reflects 1) a $348 thousand decrease in non-royalty fee income mostly due to comparison to the second quarter fiscal 2017 when approximately $365 thousand in fee income was realized related to franchise development fees and franchise store openings and 2) a $71 thousand decrease in franchise royalty income. In the second quarter, one franchise location opened in Florida. Balance Sheet and Capital Expenditures We ended the second quarter with a debt balance outstanding of $38.2 million (less deferred financing costs of $0.2 million), an increase from $31.0 million (less deferred financing costs of $0.3 million) at the end of fiscal 2017. During the second quarter, our capital expenditures increased to $3.7 million compared to $3.0 million in the second quarter fiscal 2017. At the end of the second quarter, we had $1.6 million in cash and $129.2 million in total shareholders' equity. About Luby's

Luby's, Inc. (NYSE: LUB) operates 160 restaurants nationally as of March 14, 2018: 86 Luby's Cafeterias, 67 Fuddruckers, seven Cheeseburger in Paradise restaurants. Luby's is the franchisor for 110 Fuddruckers franchise locations across the United States (including Puerto Rico), Canada, Mexico, the Dominican Republic, Panama, and Colombia. Additionally, a licensee operates 36 restaurants with the exclusive right to use the Fuddruckers proprietary marks, trade dress, and system in certain countries in the Middle East. The Company does not receive revenue or royalties from these Middle East restaurants. Luby's Culinary Contract Services provides food service management to 24 sites consisting of healthcare and corporate dining locations.

Fiesta Restaurant Group, Inc. Reports Preliminary Unaudited First Quarter 2018 Comparable Restaurant Sales Results

Comparable restaurant sales at Pollo Tropical increased 1.1% - Comparable restaurant sales at Taco Cabana decreased 1.7%Fiesta Restaurant Group reported mixed results for its two brands, including increased comparable sales for Pollo Tropical (1.1%) and decreased comparable sales at Taco Cabana (-1.7%). Both brands did report increases in average check size, 3.4% for Pollo Tropical and 9.6% for Taco Cabana. April 18, 2018--(RestaurantNewsResource) Fiesta Restaurant Group, Inc (NASDAQ:FRGI), parent company of the Pollo Tropical® and Taco Cabana® fast-casual restaurant brands, reported preliminary unaudited comparable restaurant sales results for the first quarter of 2018, which ended on April 1, 2018, in connection with its two brand General Manager Conferences this week and next.

1. Comparable restaurant sales at Pollo Tropical increased 1.1%, which included a 3.4% increase in average check, partially offset by a 2.3% decrease in comparable restaurant transactions. Comparable restaurant sales were negatively impacted by approximately 0.4% related to a fiscal calendar shift of New Year’s Day and Easter. Traction across all markets continues to build with the launch of our new Crispy Pollo Bites® platform and other implemented hospitality, facility and menu improvements.

2. Comparable restaurant sales at Taco Cabana decreased 1.7%, which included an 11.3% decrease in comparable restaurant transactions, partially offset by a 9.6% increase in average check. Comparable restaurant sales were negatively impacted by approximately 0.4% related to a fiscal calendar shift of New Year’s Day and Easter. We continue to focus on evolving our guest base and increasing the profitability of each transaction by offering high quality menu and promotional items at reasonable prices, while eliminating deep discounting. Fiesta President and Chief Executive Officer Richard Stockinger said, “Executing our Strategic Renewal Plan continued in full force during the first quarter, and we are encouraged by the improving sales trajectory across our two brands. Pollo Tropical generated its first quarter of positive comparable restaurant sales since the fourth quarter of 2015 and has now experienced four consecutive months of positive comparable restaurant sales through March. Trends at Taco Cabana improved sequentially in March, with a comparable restaurant sales decrease of 0.2% including the negative impact of approximately 0.6% related to the Easter shift.”
   

Mr. Stockinger continued, “These encouraging results are being made possible by the hard work and dedication of our entire Fiesta team, many of whom will be gathering at our two General Manager Conferences this week and next to celebrate our significant accomplishments to date.”