Bob Evans shows return on investments with Q4, year-end results
Bob Evans Farms Inc. announced its financial results for the fiscal 2013 fourth quarter and full year ended Friday, April 26, 2013. The company achieved positive 4Q 2013 same-store sales of 0.5% and positive same-store sales of 1.0% for fiscal year 2013. BEF Foods' 4Q 2013 net sales increased 26.1% and volume by 21.4%. Fiscal year 2013 net sales increased 10.8%, and volume was up 14.6%.
The company took many significant strategic actions during fiscal 2013 that impacted profitability including: the acquisition of Kettle Creations; the sale of Mimi's Cafe; initiation of the consolidation of ready-to-eat production at the Sulphur Springs, Texas, facility; the conversion of the restaurant operating entities to limited liability companies; the sale of the corporate campus and other facilities; the early payment of the company's private placement notes; and other restructuring activities. As a result, the company reported a net loss of $2.9 million, or $0.10 per share, in fiscal 2013.