CKE Restaurants, Inc. Explores Canadian Expansion
Oct 6, 2005
Company Hires Consulting Firm Parker & Associates to Assist With International Expansion Plans
CARPINTERIA, Calif., Oct. 5 -- CKE Restaurants, Inc. (NYSE: CKR) announced today that it has hired Parker & Associates, one of Canada's leading marketing consulting firms specializing in franchise development, to assist with expanding CKE's Carl's Jr.(R) brand into Canada.
CKE Restaurants, Inc.'s international presence has been steadily increasing, with a combined total of 204 Carl's Jr. and Hardee's(R) quick- service restaurants currently operating in 13 countries. CKE recently closed a deal to develop 50 new Carl's Jr. franchise restaurants in the Russian Federation over the next eight years.
"Expanding into the Canadian market makes strategic sense for our Carl's Jr. brand, and we are excited to be working with Pat Parker and his team at Parker & Associates to help facilitate potential expansion," said Ned Lyerly, CKE vice president, international. "We currently have 64 Carl's Jr. restaurants in Mexico, and we think northern expansion into Canada makes logical sense."
"Canadians love a good hamburger, and Carl's Jr. is well known for its premium burgers and unique advertising," said Pat Parker, principal, Parker & Associates. "Canada represents a huge untapped market for CKE, and we believe their innovation and energy will shake up the marketplace."
As of the second fiscal quarter ended August 15, 2005, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,159 franchised or company-owned restaurants in 43 states and in 13 countries, including 1,032 Carl's Jr. restaurants, 2,011 Hardee's restaurants and 100 La Salsa Fresh Mexican Grill(R) restaurants.
SAFE HARBOR DISCLOSURE
Matters discussed in this news release contain forward-looking statements relating to future plans and developments, financial goals and operating performance that are based on management's current beliefs and assumptions. Such statements are subject to risks and uncertainties. Factors that could cause the Company's results to differ materially from those described include, but are not limited to, whether or not restaurants will be closed and the number of restaurant closures, consumers' concerns or adverse publicity regarding the Company's products, effectiveness of operating and product initiatives and advertising and promotional efforts (particularly at the Hardee's brand), changes in economic conditions or prevailing interest rates, changes in the price or availability of commodities, availability and cost of energy, workers' compensation, employee health insurance costs and general liability premiums and claims experience, changes in the Company's suppliers' abilities to provide quality and timely products to the Company, delays in opening new restaurants or completing remodels, severe weather conditions, the operational and financial success of the Company's franchisees, franchisees' willingness to participate in our strategy, availability of financing for the Company and its franchisees, unfavorable outcomes on litigation, changes in accounting policies and practices, new legislation or government regulation (including environmental laws), the availability of suitable locations and terms for the sites designed for development, and other factors as discussed in the Company's filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward- looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the New York Stock Exchange.
For further information, contact Ned Lyerly, Vice President, International, of CKE Restaurants, Inc., +1-314-259-6413, firstname.lastname@example.org.