Franchising costs dilute Biglari Holdings’ 2012 earnings

Franchising costs dilute Biglari Holdings’ 2012 earnings

Company expects that the investment in Steak 'n Shake franchise program will result in a significant return

Steak 'n Shake, the full-service burger and shake concept, has ramped up resources to franchise the brand, a program creation that reduced parent company Biglari Holdings Inc.’s 2012 annual profits by a third, the company reported.

San Antonio, Texas-based Biglari Holdings earned nearly $21.6 million, or $16.15 a share, in the year ended Sept. 26 compared to $34.6 million, or $25.86 a share, in the prior year. Revenue was $740.2 million, compared to $709.2 millio

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