Planet Hollywood reports a loss; chairman resigns

Article Abstract:

Movie-celebrity restaurant chain Planet Hollywood International Inc. reported a Q3 loss of $10.1 million compared with $25.2 million in earnings one year earlier. Also, reported separately, one of the firm's founders, 53-year-old Keith Barish, resigned from the chairman post, but will remain on the board. He will be replaced by Robert Earl, co-founder and CEO. Both men brought experience from Hard Rock Cafe employment to the Panet Hollywood enterprise.

Eating places, Finance, Restaurant industry, Appointments, resignations and dismissals, Abstract, Earl, Robert, Barish, Keith, Planet Hollywood International Inc.

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McDonald's to take record charge to cover office, kitchen changes

Article Abstract:

McDonald's Corp. will take a $235 million charge for its earnings during the second-quarter of 1998 in order to cover major changes in its offices and kitchens. The $235 million charge is the highest in McDonald's history. The charge is expected to amount to 33 cents a share and will mean a reduction in the company's results for the quarter by approximately 50%. However, savings should add some cents a share to McDonald's earnings for 1999.

Comment:

Will take a $235 million charge for its earnings during the second-quarter of 1998

McDonald's Corp.

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Applebee's hopes to determine direction for ailing Rio Bravo chain by year end

Article Abstract:

Applebee's International Inc.'s CEO says that the company hopes to find solutions for its Rio Bravo Cantina chain's disappointing performance with the help of an executive selected from the ranks of its allies. Lawerence M. Folk incoming president of the Tex-Mex chain will play a prominent role in the evaluation of the 61-unit chain. Rio Bravo franchises contribute less than 10% of Applebee's present profits.

Comment:

Applebee's Intnl 's CEO says co hopes to find slns for its Rio Bravo Cantina chain's disappointining performance w/ exec help

Financial management, Company Personnel, Applebee's International Inc.

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