Auric Goldfinger's Short List Message Board

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Non-Tech : Auric Goldfinger's Short List

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To: Pink Minion who wrote (7929)	6/25/2001 6:00:09 PM
From: Sir Auric Goldfinger	Read Replies (1) of 19428

Talk about timing! "DJ 2001-06-25 17:38 TAMPA, Fla. (Dow Jones)--Outback Steakhouse Inc. (OSI) warned that its second quarter earnings will fall short of analysts consensus estimates of 52 cents a share, which the company says fail to factor in lower-than-expected same-store sales growth and higher costs. The company earned 41 cents a share in the year-ago quarter. In a press release Monday, the restaurant company said its ingredient costs have risen on unusually high dairy costs and by the effect of using domestic pork ribs in the place of less expensive imported product. The company expects these items to add 60-70 basis points to cost of goods sold for the quarter ending June 30. As reported, the company's May same-store sales rose 1.1% for its domestic Outback Steakhouses and 8.1% for the company's Carrabba's Italian Grills. In April, domestic Outback Steakhouse same-store sales rose 0.7%, while Carrabba's Italian Grill same-store sales rose 7.3%. Outback Steakhouse operates 698 Outback Steakhouses, 86 Carrabba's Italian Grills, seven Fleming's Prime Steakhouse and Wine Bars, seven Roy's, two Zazaracs and one Lee Roy Selmon's. The company's New York Stock Exchange-listed stock was unavailable for late trading. It closed at $29.95, down 41 cents, or 1.4%. Company Web site: outback.com -Cressida Connolly; Dow Jones Newswires; 201-938-5400

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