Snow Closures to Affect CKE Earnings
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CKE Restaurants Inc. said fourth-quarter earnings will miss analysts’ estimates because snowstorms in December and early January prevented some of its Hardee’s restaurants from opening.
The Anaheim-based company said it expects earnings between 25 cents and 28 cents, compared with the average estimate of 34 cents by First Call Corp. It had a profit of $12.5 million, or 26 cents, in the year-ago period.
CKE owns 2,882 Hardee’s in 34 states and 11 foreign countries.
The announcement came after the markets closed. CKE shares were up 25 cents to $25.
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