SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 1, 1995
SBARRO, INC.
(Exact name of registrant as specified in its charter)
New York
(State or other jurisdiction of incorporation)
1-8881 11-2501939
(Commission File Number) (IRS Employer Identification No.)
763 Larkfield Road, Commack, New York 11725
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(516)864-0200
Not Applicable
(Former name or former address, if changed since last report)
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Item 5. Other Events..
On May 1, 1995, the Company issued a press release in
which it reported that, based on preliminary indications, the
Company's net earnings for the first quarter ended April 23,
1995 are expected to be approximately 25% below the prior year's
levels for the same period. In the first quarter of 1994, the
Company earned $6,169,000 or $.30 per share. A copy of the press
release is filed as an exhibit to this report and is incorporated
herein by reference.
Item 7. Financial Statements and Exhibits.
(a) Financial statements of businesses acquired: None
(b) Pro forma financial information: None
(c) Exhibits:
99.1 Press Release dated May 1, 1995.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
SBARRO, INC.
Date: May 1, 1995 By: /s/ Robert S. Koebele
Robert S. Koebele
Vice President-Finance
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EXHIBIT INDEX
Exhibit
Number Exhibit Page
99.1 Sbarro, Inc. Press Release dated May 1, 1995 4
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EXHIBIT 99.1
PRESS RELEASE
CONTACT: Robert S. Koebele
Vice President, Finance
SBARRO, INC.
(516) 864-0205
SUMMARY: SBARRO, INC. reports
anticipated First
Quarter 1995 earnings
to be below prior
year s level.
FOR IMMEDIATE RELEASE
Commack, L.I., New York May 1, 1995
Sbarro, Inc. (listed New York Stock Exchange "SBA") announced
today that, based on preliminary indications, the Company's net
earnings for the first quarter ended April 23, 1995 are expected to
be approximately 25% below prior year's levels for the same period.
In the first quarter of 1994, the Company earned $6,169,000 or $.30
per share. Commenting on the anticipated results, Mario Sbarro,
Chairman of the Board, noted that the Company's operating and G & A
expenses increased in the quarter in contemplation of its growth
plans for the year. He also noted that although comparable unit
sales were up slightly and that total revenues were up 9%, sales
performance for the quarter did not meet Company's expectations,
thereby increasing operating and G & A cost relationships. In
addition, he noted that slightly higher food and labor cost
relationships contributed to the decline in profitability.
The Company expects to release First Quarter 1995 earnings
during the week of May 8, 1995.
Mr. Sbarro stressed that the business fundamentals that have
made the Company successful are intact and that the Company remains
very profitable. He further stated that the first quarter
financial results will not affect the Company's growth plans nor
its cash dividend program.
The Company develops and operates a national chain of family-
style, cafeteria-type Italian restaurants under the Sbarro name.
At April 23, 1995 there were 750 restaurants in operation, 579 of
which were Company-owned and 171 of which were franchised. At
year-end 1994, there were 729 restaurants in operation, 567 of
which were Company-owned and 162 of which were franchised.
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