Einstein earnings, sales fall in quarter

by Eric Schroeder
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LAKEWOOD, COLO. — Net income at Einstein Noah Restaurant Group in the second quarter ended June 29 fell 50% to $3,248,000 from $6,466,000, while adjusted EBITDA eased narrowly to $11,697,000 from $11,886,000. Net sales also finished lower at $103,473,000, down from $104,358,000. “Despite intensifying competition in the breakfast daypart, we invested in temporary price incentives in an effort to build traffic,” said Jeff O’Neill, chief executive officer and president. “Similar to prior quarters, we focused on various marketing initiatives, and promotional activity to expand our customer base through the launch of healthy innovation, fresh baked goodness and a strong line-up of new products.”

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