– CKE Restaurants Inc.
said that sales at locations open at least one year rose 9.1 percent in the four weeks ended Jan. 30 due to new product introductions and favorable weather in core markets.
Carl’s Jr.’s January same-store sales rose 5.8 percent, while Hardee’s soared 12.4 percent, Carpinteria-based CKE said. For the fourth quarter, same-store sales increased 4.1 percent on a 5.3 percent rise at Carl’s Jr. and a 2.9 percent jump at Hardee’s. Total third-quarter revenue was reported as $276.4 million.
– Canon Communications LLC
announced that Chief Executive William F. Cobert will be stepping down after 27 years at the L.A.-based publisher of trade magazines to “move on to new challenges and opportunities,” the company said in a statement. Canon was sold in May 2005 to New York-based Apprise Media LLC, a portfolio company of Spectrum Equity Investors, for over $200 million. Charles G. McCurdy, chairman and chief executive of Apprise, will assume the role from Cobert, effective Feb. 17.
– Learning Tree International Inc.
asked the Securities and Exchange Commission for a five-day extension to file its first-quarter financial report due to a buildup of work related to recent restatements to correct its accounting for income taxes and leases. The El Segundo-based provider of courses and training to information technology professionals said the restatements of financial results for the fiscal years of 2001 through 2004 as well as for the quarters of 2004 and 2005 resulted in a delayed release of the results for its full-year 2005 report. That led to the need for additional time to file its first quarter results, the company said in a regulatory filing.
– Oliver Peoples Inc.
and its subsidiaries were acquired by Foothill Ranch-based Oakley Inc. for up to $55.7 million, subject to post-closing adjustments. The price includes the assumption of approximately $5 million of debt and up to $4 million in earn-out incentives. As a result of the deal, Oakley acquired the L.A.-based privately held luxury eyewear company’s three brands: Oliver Peoples, Mosley Tribes and the licensed Paul Smith brand. Oakley expects the acquisition to be accretive to earnings in 2006.
