Though Minneapolis-based Famous Dave’s of America recorded another quarter of negative revenue and same-store sales, the operator or franchisor of the Famous Dave’s barbecue chain greatly increased its net income. The company slashed general and administrative expenses $1.3 million year-over-year. They fell from 15.1 percent of sales in the first quarter of 2013 to 11.9 percent of sales in the most recent quarter. Officials for the 193-unit brand cited harsh winter weather in its key markets and the lapping of a sales-driving direct-mail campaign from a year earlier, which was not repeated, for its sales declines.
1Q NET INCOME
Result: $516,000, or 7 cents per share% Increase: 732.3% (from $62,000, or 1 cent per share)
1Q REVENUE
Result: $35.7 million% Decrease: 2.5% (from $36.6 million)
1Q SAME-STORE SALES
% Decrease at company-owned units: 4.9%
% Decrease at franchised units: 3.3%
Source: Company report
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