The Steak n Shake Company Announces Update of Business Trends and Resets Annual Meeting Date
March 12 2009 - 6:00AM
PR Newswire (US)
INDIANAPOLIS, March 12 /PRNewswire-FirstCall/ -- The Steak n Shake
Company (NYSE:SNS) today announced its comparable store traffic and
sales thus far in its second quarter of fiscal 2009, which will end
on April 8, 2009. (There are four periods in the second quarter.)
(Logo: http://www.newscom.com/cgi-bin/prnh/20000606/STEAKLOGO )
Quarter-to-Date (December 18, 2008-March 11, 2009) Customer Traffic
+6.2% Same Store Sales +1.8% (Comparable store sales represent
sales associated with only those restaurants in operation for at
least eighteen months.) Management does not believe comparable
store sales constitute the main, exclusive, or most important
metric to measure results. However, these numbers call attention to
long-term traffic trends as a pertinent gauge useful in evaluating
the business. Thus far, management is pleased with its progress in
its efforts to turn around the company. Notwithstanding,
management's long-term goal is to sustain increases in customer
traffic along with maximizing free cash flow -- to attain its
ultimate objective, maximizing the per-share intrinsic value of the
company. Annual Meeting of Shareholders The company plans to
communicate with shareholders at its upcoming Annual Meeting of
Shareholders now set for April 24, 2009 at 1:30 p.m. E.S.T.
(Previously, the date was April 3, 2009.) The meeting will take
place in the Vienna Ballroom at the Conrad Hotel, 50 West
Washington Street, Indianapolis, Indiana. The company will send
additional details in the proxy statement, which shortly will be
filed and distributed. To ensure that all interested parties are
accommodated, the company asks that shareholders, analysts, and
media planning to attend reserve a seat at . About Steak n Shake
Steak n Shake, founded in 1934, is a classic American brand,
serving premium burgers and milkshakes through its chain of 490
restaurants. Forward Looking Statements This news release may
include "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 and other federal
securities laws. These statements which may concern anticipated
future results are based on current expectations and are subject to
a number of risks and uncertainties that could cause actual results
to differ markedly from those projected or discussed here. Steak n
Shake cautions readers not to place undue reliance upon any such
forward-looking statements, for actual results may differ
materially from expectations. Steak n Shake does not undertake to
publicly update or revise any forward-looking statements even if
experience or future changes make it clear that any projected
results expressed or implied therein will not be realized. Further
information on the types of factors that could affect Steak n Shake
and its business can be found in the company's filings with the
SEC. http://www.newscom.com/cgi-bin/prnh/20000606/STEAKLOGO
http://photoarchive.ap.org/ DATASOURCE: The Steak n Shake Company
CONTACT: Duane Geiger of The Steak n Shake Company, +1-317-633-4100
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