Sizzler Reveals Plan to Streamline Operations
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Sizzler International Inc., which operates and franchises Sizzler, KFC and Pat & Oscar’s restaurants, plans to rein in costs as a way to stem declines in profit and sales growth.
The company will reduce inventory, purchasing and food costs, while using scheduling “tools” to more efficiently manage workers’ hours and cut labor expenses, President and Chief Executive Charles Boppell said.
Net income for the fourth quarter ended April 29 fell 66% to $924,000, or 3 cents a share, from $2.7 million, or 9 cents, a year earlier. Revenue at the Culver City-based company rose 7% to $59.1 million, although same-store sales at its Sizzler USA unit fell 2%.
The shares of Sizzler fell 4 cents to close at $1.46 on the NYSE.
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