CKE Expecting 87% Revenue Gain for Year

CKE Restaurants Inc. of Anaheim said Friday it expects to report an 87% gain in revenue, to $1.15 billion, for the year ended Jan. 26, thanks to its acquisition of Hardee’s Food Systems. The company said same-store sales at its Carl’s Jr. Restaurants rose 6.7% in the fourth quarter and 4.8% for the year, while Hardee’s same-store sales fell 9.3% in the fourth quarter because some menu items were deleted. The company also said it signed a definitive agreement on its previously announced plan to buy an additional 557 Hardee’s restaurants from Advantica Restaurant Group Inc. The price of that deal rose 3% since it was first announced in January, to $427 million in cash and assumed debt. The deal is schedule to close in early April.