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Thursday, Feb 29, 2024

CKE Restaurants Announces Carl’s Jr. Expansion

CKE Restaurants Inc. said Monday three franchisees will open 51 new Carl’s Jr. restaurants in Nevada and Idaho over the next decade.

Carpinteria-based CKE, which also owns the Hardee’s brand, said Las Vegas based S.L. Investments Inc. has committed to opening 30 new locations over 10 years. Behnam Rodd of BR Reno Star will open nine new Carl’s Jr. locations in Reno over the next eight years, CKE said. Rodd now owns two Carl’s Jr. restaurants in Los Angeles and recently bought seven locations in Reno. In Idaho, franchisees John Nelson and Clayton Jones will open 12 new Carl’s Jr. restaurants over the next six years. The two currently operate nine Carl’s Jr. locations.

“These three agreements speak volumes to the commitment and strength of CKE’s franchisee community,” Chief Executive Andrew Puzder said in a statement.

CKE Restaurants had around 3,100 franchised or company-operated restaurants in 42 states and in 14 countries as of Aug. 11. CKE, which has been working to franchise more of its company-operated locations, reported second-quarter net income that exceeded Wall Street expectations. Meanwhile, competitive pressure as a result of discounting by rival fast-food chains dampened sales in the first four weeks of its current quarter.

CKE shares were down 46 cents, or 6 percent, to $6.74 in morning trading on the New York Stock Exchange.

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