Bob Evans sales, profit tumble in 1Q

Bob Evans sales, profit tumble in 1Q

Company also makes deal to develop ‘Bob Evans Express’ onsite prototype

Columbus, Ohio-based Bob Evans Farms’ first-quarter net income fell nearly 40 percent as slightly negative sales at its namesake casual-dining chain combined with asset write-down charges totaling $10 million. However, the brand said it was on pace to complete its reimaging program for all its restaurants by the end of the fiscal year, and it announced a deal with AVI Food Systems Inc. to develop and license a “Bob Evans Express” variant for nontraditional and onsite locations like hospitals, schools, airports and malls.

NET INCOME

Result: $9.1 million, or 33 cents per share
% Decrease: 39.3% (from $15 million, or 53 cents per share)

REVENUE

Result: $329.4 million
% Decrease: 19.6% (from $409.7 million)

SAME-STORE SALES

% Decrease: 0.6 percent

Source: Company report

RELATED:
Bob Evans to finish remodels by end of fiscal 2014
Bob Evans Farms refocuses after Mimi's Café sale
Same-store sales at NRN.com

Contact Mark Brandau at [email protected].
Follow him on Twitter: @Mark_from_NRN

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