CKE Restaurants Sales Dip on Escalating “Burger Wars” Wednesday, November 11, 10:14 AM ET
CKE Restaurants, operator of Carl’s Jr. and Hardee’s, said October said store sales fell 5 percent.
Sales at Carl’s Jr. stores dropped 7 percent while sales at Hardee’s fell by 3 percent.
The burger chain blamed the declined on worsening unemployment and competitors that have “escalated the deep-discount burger wars.”
CKE is forecasting margins will improve from 17.9 percent in the third quarter of fiscal 2009 to between 18 and 18.3 percent in the third quarter of fiscal 2010.
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