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 percentSource: 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