May 11, 2007
First quarter not kind to Friendly
By Matthew L. Brown
The Friendly Ice Cream Corp. of Wilbraham reported a first quarter net revenue slide of $3.1 million along with slipping restaurant sales, and a net loss of $6 million.
In the fist quarter of 2006, the company reported a net loss of $1.8 million.
Revenue for the company dropped from $125.7 million in the first quarter of 2006 to $122.6 in the most recent quarter.
Same-restaurant sales declined 4.1 percent at company-owned restaurants during the quarter, and by 4.6 percent at franchised restaurants.
In the fist quarter of 2006, the company reported a net loss of $1.8 million.
Revenue for the company dropped from $125.7 million in the first quarter of 2006 to $122.6 in the most recent quarter.
Same-restaurant sales declined 4.1 percent at company-owned restaurants during the quarter, and by 4.6 percent at franchised restaurants.
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