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BUSINESS
May 12, 1995
The ties binding CKE Restaurants Inc. and Fidelity National Financial Inc. grew stronger Thursday as the restaurant operator turned to an executive at a Fidelity National subsidiary to serve as its chief financial officer. Joseph N. Stein, 34, most recently senior vice president at Fidelity National Title Co., succeeded longtime CKE executive Loren C. Pannier as chief financial officer, the company said Thursday.
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BUSINESS
July 7, 2012 | By William D'Urso, Los Angeles Times
It was a big day for pig rights advocates. Oscar Mayer, one of the biggest names in pork products, announced Friday that it would work with farmers to do away with the gestation crate system that confines female pigs in cages. "While the Oscar Mayer brand does not raise pigs," theKraft Foods Inc.-owned brand said in a statement, "the plan is to source all pork from suppliers who can provide pregnant sow housing that safely allows for greater movement for the animal. " Also Friday, CKE Restaurants Inc. - which has more than 3,000 fast-food outlets, including the Carl's Jr. and Hardee's brands - said it would rid its pork supply system of the crates that have been called cruel by animal rights advocates.
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BUSINESS
June 26, 2008 | From Times Wire Services
Fast-food chain operator CKE Restaurants Inc. said its fiscal first-quarter profit rose 8%, helped by an increase in same-store sales at Carl's Jr. restaurants and a lower share count. For the quarter ended May 19, net income rose to $16.6 million, or 31 cents a share, from $15.4 million, or 23 cents, a year earlier. Analysts polled by Thomson Financial expected profit of 27 cents a share. The Carpenteria, Calif., company said the 2009 per-share result was based on 13.9 million fewer shares outstanding.
BUSINESS
July 6, 2012 | By Tiffany Hsu
Carl's Jr. and Hardee's parent CKE Restaurants Inc.  is joining the pig rights parade, promising to free its pork supply system of cramped gestation crates by 2022. The Carpinteria company began implementing better conditions for its hogs five years ago, the Humane Society of the U.S. said Friday. But over the next decade, the fast food giant will completely stop its practice of cramming pregnant pigs into tiny cages. The decision will affect the meat supply going into CKE's more than 3,000 locations, whose menus often heavily feature bacon.
BUSINESS
June 13, 1997 | GREG JOHNSON, TIMES STAFF WRITER
CKE Restaurants Inc. reported that net income for the first quarter ended May 19 nearly doubled and that revenue for the period rose by 62.8%. The restaurant company tied strong quarterly results to continued improvements at the Carl's Jr. burger chain as well as solid gains at the company's other restaurant operations. "All of CKE's concepts were profitable for the quarter," said CKE Chairman and Chief Executive William P. Foley. "However, our Carl's Jr.
BUSINESS
February 3, 2011 | By Sharon Bernstein, Los Angeles Times
CKE Restaurants Inc., the parent company of fast-food chain Carl's Jr., is in "very early" talks about moving its headquarters from Carpinteria in Santa Barbara County to Texas, company spokeswoman Beth Mansfield said. CKE President Andy Puzder has been on a media blitz this week through the Lone Star State, where he has been promoting the chain in connection with the Super Bowl on Sunday. In an interview with the Dallas Morning News, Puzder said he would meet with Texas Gov. Rick Perry to discuss a move.
BUSINESS
September 11, 1997 | (Associated Press)
CKE Restaurants stock climbed another 7% Wednesday, the second solid gain after the restaurant operator posted record profit for the second quarter. The stock rose $2.75 to $39.75 a share on the New York Stock Exchange. On Tuesday, the stock rose 10%.
BUSINESS
July 13, 1996 | GREG JOHNSON
Shareholders of Summit Family Restaurants Inc. met Friday to vote on a proposed merger with CKE Restaurants, but executives at the two firms declined to release results. "We're not going to say anything until we hear from Summit's board," a CKE Restaurants spokeswoman said. Meanwhile, executives at Salt Lake City-based Summit said late Friday that results of the vote were not yet ready to be released. CKE, the Anaheim-based parent company of the Carl's Jr. chain, had offered $25.
BUSINESS
July 10, 1996 | GREG JOHNSON
Shareholders of Summit Family Restaurants Inc. in Salt Lake City are scheduled to vote Friday on a friendly takeover bid by CKE Restaurants Inc., the Anaheim-based operator of the Carl's Jr. chain. Summit shareholders would receive $25.9 million in cash and stock if the merger is approved. CKE's offer includes $2.63 in cash and 0.1043 shares of CKE common stock for each share of Summit. Summit operates 124 JB's Restaurants, Hometown Buffets and Galaxy Diners in western states.
BUSINESS
November 11, 1998 | Bloomberg News
CKE Restaurants Inc. shares retreated Tuesday after the operator of fast-food restaurants, including Hardee's, said fiscal third-quarter earnings will fall at least a penny short of analysts' estimates. The stock fell to $19.25 a share during the session before rallying to close at $21.75, off 69 cents. The Anaheim-based company said it expects third-quarter earnings of 39 cents to 40 cents a share, up from 30 cents in the year-earlier period.
BUSINESS
February 14, 2012 | By Tiffany Hsu
It looks like Kate Upton is set for a while: In addition to landing the cover of the 2012 Sports Illustrated Swimsuit Issue, the model of the moment is also gracing the new advertisements for Carl's Jr. and Hardee's. The day after Upton was unveiled on "Late Show With David Letterman" as the bikini-clad star of the sports magazine's famous annual issue, CKE Restaurants released saucy behind-the-scenes footage from her commercials for its fast-food chains. Upton filmed her role for the Carl's Jr. and Hardee's Southwest Patty Melt on Jan. 31 clad in a polka-dot dress on a hilltop overlooking downtown Los Angeles.
BUSINESS
July 23, 2011 | Sharon Bernstein
You may not be able to taste it, but that taco you're about to devour may have a little less salt than it used to. Whether serving fast food or cooking up gourmet meals, restaurants are cutting back on salt. It's partly for your health, but it's also to head off regulators who have already ordered them to post calorie counts on their menus and stop frying with trans fats. Carl's Jr. has cut 20% of the sodium from its hamburger buns. El Torito has whacked up to 30% of the sodium from its sauces and marinades.
BUSINESS
July 1, 2011 | Sharon Bernstein
The company that owns the Carl's Jr. and Hardee's fast-food chains is getting more healthy -- and a little less skanky. Stung by more than two years of dipping sales at the Carl's Jr. restaurants, and with its target audience of young men disproportionately suffering from unemployment, CKE Restaurants Inc. is trying to expand its appeal. It's a change in direction that may be starting to pay off. Led largely by the popularity of turkey burgers -- a product that would have been heresy at Carl's Jr. in past years -- sales have been increasing at those restaurants, the company said Tuesday.
BUSINESS
February 3, 2011 | By Sharon Bernstein, Los Angeles Times
CKE Restaurants Inc., the parent company of fast-food chain Carl's Jr., is in "very early" talks about moving its headquarters from Carpinteria in Santa Barbara County to Texas, company spokeswoman Beth Mansfield said. CKE President Andy Puzder has been on a media blitz this week through the Lone Star State, where he has been promoting the chain in connection with the Super Bowl on Sunday. In an interview with the Dallas Morning News, Puzder said he would meet with Texas Gov. Rick Perry to discuss a move.
BUSINESS
April 26, 2010 | Jerry Hirsch
After debating competing buyout offers, the parent company of the Carl's Jr. hamburger chain said it would be acquired by an affiliate of Apollo Management, spurning an earlier suitor. Apollo's offer is the latest twist for a storied Southern California company that was founded as a Los Angeles hot dog stand in the 1940s by charismatic entrepreneur Carl Karcher. The transaction is significant because it may mark the first in a series of restaurant chain sales, said Randall Hiatt, president of Fessel International Inc., a Costa Mesa-based restaurant industry consulting firm.
BUSINESS
April 20, 2010 | Bloomberg News
CKE Restaurants Inc., operator of the Carl's Jr. and Hardee's chains, said a takeover offer it received this month is superior to the terms it agreed to in February with Thomas H. Lee Partners. The new bidder, which was not identified, offered $12.55 a share, Carpinteria-based CKE said Tuesday. The offer would be worth $639.9 million, based on the number of CKE shares outstanding as of March 17, according to Bloomberg data. THL Partners had offered $11.05 in cash for each share of CKE common stock and also agreed to assume about $309 million in debt.
BUSINESS
June 14, 2001 | Associated Press
CKE Restaurants Inc. said Wednesday it expects a "substantial" loss in its fiscal first quarter, primarily from restaurant closings and the sale of its Taco Bueno chain to a private investment group. CKE lost $2.45 million a year ago. The struggling Anaheim company, which operates Hardee's and Carl's Jr. fast-food chains, agreed in March to sell its Taco Bueno restaurants for $72.5 million to an affiliate of Jacobson Partners, a private equity buyout firm.
BUSINESS
July 1, 1999 | Greg Hernandez
Carl's Jr. parent CKE Restaurants Inc. said it's teaming up with Shell and Texaco to open at least 45 Carl's Jr. and Hardee's restaurants with gas stations during the next two years. The plan calls for restaurants to be built alongside gas stations at a cost of about $1 million each, to be divided between the two parties.
BUSINESS
February 27, 2010 | By Walter Hamilton and Tiffany Hsu
The parent company of the Carl's Jr. hamburger chain got a juicy buyout offer -- but it may not be nourishing enough for shareholders. CKE Restaurants Inc. said Friday that it had agreed to be bought by a Boston private equity firm for $619 million plus the assumption of about $309 million in debt. The $11.05 a share cash offer from Thomas H. Lee Partners represented a 24% premium over its closing price a day earlier. But in an unusual move, the Carpinteria, Calif., company also said it would "actively solicit" competing bids from other would-be buyers through April 6. Buyout deals normally are ironclad and are larded with hefty breakup fees to dissuade rival bids.
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