Something's cooking at Grille Concepts Inc. and American Reprographics while K-Swiss got kicked and the subprime slide continued for Ryland Group Inc. and Fremont General Corp.
Leading the way during the week was Grill Concepts Inc., which operates The Grill on the Alley and Daily Grill-branded restaurants. The Los Angeles chain reported that same-store sales jumped 18 percent for the quarter and 10 percent for the year, sending shares up 28 percent for the week to $6.28 per share.
Shares in American Reprographics rode strong fourth quarter earnings that sported a 327 percent hike in profit, to gain 14 percent to $34.82. The Glendale document reproducer also kept the good vibe going by forecasting earnings of $1.62 per share for 2007 that beat Wall Street expectations of $1.58.
Smart & Final Inc. announced that it was a being acquired by Apollo Management LP for just over $800 million, helping shares in the City of Commerce-based grocer, which is L.A.'s oldest, gain 13 percent to $21.59. The buyout news helped investors shake off the company's a 45 percent dip in its fourth quarter profits.
On the losing end for the week was athletic shoemaker K-Swiss Inc., which was hurt by weak domestic sales and reported an 8 percent dip in profits and a 2 percent dip in sales. Shares in the Westlake Village-based company dropped 15 percent to $29 for the week.
The subprime slide also continued to wreak havoc on area lenders and homebuilders, with Santa Monica-based lender Freemont General Corp. losing 9 percent to $12.48 while Calabasas-based homebuilder and mortgage lender Ryland Group Inc. lost 7.6 percent during the week to $50.56. For the month of February, shares in Ryland have lost 15 percent while Fremont shares have dropped 12 percent.
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