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): July 21, 1997
SBARRO, INC.
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(Exact name of registrant as specified in its charter)
New York
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(State or other jurisdiction of incorporation)
1-8881 11-2501939
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(Commission File Number) (IRS Employer Identification No.)
763 Larkfield Road, Commack, New York 11725
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (516) 864-0200
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events..
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On July 21, 1997, the Company issued a press release reporting that,
based on preliminary indications, the Company's net earnings for the second
quarter ended July 13, 1997 will approximate the prior year's level of
$6,642,000 or $.33 per share.
A copy of the Press Release is attached to this report as Exhibit
99.01.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(a) Financial statements of business acquired:
Not applicable.
(b) Pro forma financial information:
Not applicable.
(c) Exhibits:
99.01: Sbarro, Inc. Press Release dated July 21, 1997.
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: July 21, 1997 By: /s/ Robert S. Koebele
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Robert S. Koebele,
Vice President-Finance
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EXHIBIT INDEX
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Exhibit
Number Description
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99.01 Sbarro, Inc. Press Release dated July 21, 1997.
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Sbarro
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PRESS RELEASE
CONTACT: Robert S. Koebele
Vice President, Finance
SBARRO, INC.
(516) 864-0203
SUMMARY: SBARRO, INC. anticipates
second quarter 1997
earnings to approximate
prior year's level
FOR IMMEDIATE RELEASE
Commack, L.I., New York............................................July 21, 1997
Sbarro, Inc. (listed New York Stock Exchange ASBA@) announced today
that, based on preliminary indications, the Company's net earnings for the
second quarter ended July 13, 1997 will approximate the prior year's level of
$6,642,000 or $.33 per share.
Commenting on the anticipated results, Mario Sbarro, President and
Chairman of the Board, noted that sales were affected by a 1% reduction in
comparable unit sales and a lower than anticipated number of new unit openings.
Earnings were also affected by higher restaurant occupancy costs, as well as
increased general and administrative costs incurred in anticipation of the
Company's growth plans for the year.
Mr. Sbarro stressed that the business fundamentals that have made the
Company successful are intact and the Company remains very profitable. He
further stated that the results will not affect the Company's future growth
plans nor its cash dividend program.
The Company expects to release Second Quarter 1997 earnings during
the week of August 11, 1997.
The Company develops and operates a national chain of family-style,
cafeteria-type Italian restaurants under the Sbarro name. At July 13, 1997 there
were 823 restaurants in operation, 607 of which were Company-owned and 216 of
which were franchised. At year-end of 1996, there were 816 restaurants in
operation, 597 of which were Company-owned and 219 of which were franchised.
