CKE Restaurants Sees Drop In Key Sales Figure

CARPINTERIA, Calif. (AP) — CKE Restaurants Inc., owner of the Carl's Jr., Hardee's and Green Burrito and Red Burrito brands, reported Wednesday that sales at its restaurants open at least a year fell during the most recent period.

The company said the key indicator fell 4.8 percent for the month that ended April 19.

The drop from a year earlier was most severe at CKE's Carl's Jr. chain, at 8.7 percent, while the figure rose 0.3 percent at Hardee's.

Sales at restaurants open at least a year is considered a key indicator of a company's financial health because it isn't skewed by results from stores that opened or closed during the year.

CKE said the poor economy and high unemployment in its core market, California, were partly to blame.

Revenue at company-operated restaurants dropped to $83.6 million, from $87.6 million in the same monthlong period a year earlier.

Shares of CKE, which recently announced it had accepted a $694 million buyout offer from a private equity firm, rose 1 cent to $12.37 in midday trading.

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