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Bob Evans Farms, Inc. Message Board

  • BRIANHUNT51 BRIANHUNT51 Feb 27, 1998 6:59 PM Flag

    S Owens

    For the last yr or two bobe has blamed severe winter conditions as a hindrance to sales store sales and profits. How has el nino helped this yr since we have experienced very mild conditions in those states where our restaurants are located? Shouldnt our figures be seasonal adjusted a bit to reflect just how much growth or lack of growth bobe did have this last qtr??-thanks-Brian

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    • There is no restriction that I know of regarding announcement of a stock repurchase. We typically do it once a year at the
      beginning of the fiscal year, and make it large enough that we shouldn't have to come back to the Board for another authorization. We
      do observe a closed window to trading by the Company and our Officers which begins 14 days prior to the close of a quarter, and
      lasts until 3 days following the earnings release, which covers about a six week period. We do this to eliminate any accusation
      from any party that inside information affects our trading activity to the detriment of any other party. This is not an SEC
      regulation, but we choose to do so voluntarily.
      Weather, particularly in the winter, does have a significant affect on our volumes and our earnings. Two years ago we had a
      very rough winter which hurt us a great deal, and it was reflected in our same store sales. Last year had a few rough periods,
      but was much better, and helped us to show improved results. This year has been extremely mild, and again has helped us to show
      positive numbers. It has, however, had a great deal of rain, particularly in the eastern part of our territory, which has impacted
      constuction of several new restaurants, pushing their openings into next fiscal year. The SEC requires us to report numbers as is, but
      we can comment on how any significant factors may have affected our results, which we regularly do. I don't know how you would
      determine specifically how much of an impact weather or any other factor had on results in a fluid environment anyway. Stewart O.

 
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