In,
It's time. RLLY IS GOING TO RALLY.
RALLY'S HAMBURGERS INC
Address: ...............................SUITE 150
..................................................10002 SHELBYVILLE ROAD
..................................................LOUISVILLE, KY 40223
Telephone: .......................... .502-245-8900
Exchange: ............................ NASDAQ
Ticker Symbol: .................... RLLY
Website: ..............................http://www.rcfc.com/rallys.htm
Bid: 4................... Ask: 4 1/16
Target: ................. Refer to TA section of report
Rally's Hamburgers, Inc., along with its franchisees, operates double
drive-thru hamburger restaurants, primarily located in the Midwestern
United States. On February 24, 1997, the Rally's system included 471
restaurants in 19 states, comprised of 214 Company-owned and operated, 230
franchised and 27 Company-owned restaurants in Western markets which are
operated as Rally's restaurants by CKE Restaurants, Inc. ("CKE"), a
significant shareholder of the Company, under an operating agreement which
began July 1996. The Company's restaurants offer high quality fast food.
Rally's revenues are derived primarily from Company-owned restaurant sales
and royalty fees from franchisees. The Company also receives revenues from
the award of exclusive rights to develop Rally's restaurants in certain
geographic areas and the award of licenses to use the Rally's brand and
confidential operating system .
EXECUTIVE SUMMARY
* INSTITUTIONAL FOLLOWING
Two STRONG BUY ratings issued within the last 30 days.
* INSIDERS ARE BUYING
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bin/owa/insdr.g?ctype1=S&ctype2=B&crange=1+Month&cname=RLLY&csort=MA
* MANAGEMENT SHAKE-UP
New Chairman and CEO effective October 10, 1997.
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* NEW BUSINESS PLAN
Rally's announced in September that it has agreed in principle to acquire,
in exchange for Rally's securities, an aggregate of approximately 14.4
million shares of the Common Stock of Checkers Drive-In Restaurants, Inc.
("Checkers"), held of record by CKE Restaurants, Inc. ("CKE") (NYSE:CKR)
and Fidelity National Financial, Inc. ("FNF") (NYSE:FNF). Checkers and
Rally's will share the same CEO, Chairman and upper mangement team. The
arrangement is expected to provide cost cutting and improve margins.
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DETAILS, DETAILS, DETAILS
On October 16, 1997 L.H. Friend, Weinress analyst Kevin Skislock issued a 4
page Company Report on RALLYS HAMBURGRS. Report highlights: " A
STRONG BUY rating was maintained with a target price of $7 per share.
Company news includes the issue announcement of approximately 7.5 million
shares, and an announced stockswap for a 42% position in Checkers
Drive-Thru Restaurants, Inc. Additionally break even operating results
for the third quarter of 1997 are expected. "
On October 30, 1997 Rally's Hamburgers Inc. was rated Strong buy in new
coverage at The Shemano Group Inc.( Estella Trujillo, 415/274-3200 or
800/316-9901).
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The company said Oct. 10 that William Foley had been appointed chairman of
Rally's. While Foley was serving that same role at CKE Restaurants Inc.
(CKR), operator of the Carl's Jr. and Hardee's quick-service restaurant
brands, CKE's stock price appreciated about 800% from 1994 to its current
52-week high of $45.375. The following articles offer excellent backgroung
information on Mr. Foley and the current RALLY strategy:
smartmoney.com
forbes.com
James J. Gillespie was appointed CEO on October 10th. Before coming to
Rally's, Gillespie served as president of Applebee's Division of Apple
South, Inc and Senior Vice President of franchise operations
for Long John Silver's.
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Anthony M. Lavely was recently appointed Senior Vice President - Sales and
Marketing.
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Prior to joining Rally's, Lavely's marketing experience included senior
marketing positions at Domino's Pizza, Burger King and Long John Silver's. |
