8-K

 

UNITED STATES
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 29, 2007

CKE Restaurants, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	1-11313	33-0602639
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
6307 Carpinteria Ave., Ste. A, Carpinteria, California		93013
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: (805)745-7500

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On May 30, 2007, CKE Restaurants, Inc. (the "Company") issued a press release announcing the Company's same-store sales for the four weeks and fiscal quarter ended May 21, 2007 and the approximate consolidated revenues for its company-operated restaurants for the fiscal quarter ended May 21, 2007. The press release is attached as Exhibit 99.1 hereto. This information, including Exhibit 99.1, shall be deemed to be "furnished" in accordance with the SEC release numbers 33-8216 and 34-47583.

Item 7.01 Regulation FD Disclosure.

On May 29, 2007, the Company issued a press release announcing that it has entered into an agreement for the sale of its La Salsa Fresh Mexican Grill restaurants to Thousand Oaks, California-based Baja Fresh Mexican Grill. Under the agreement, Santa Barbara Restaurant Group, Inc., a wholly-owned subsidiary of the Company, is expected to sell its 100 percent equity interest in La Salsa, Inc. and La Salsa of Nevada, Inc. The transaction is subject to customary closing conditions and is expected to close by the end of June 2007. The transaction is not expected to have a material impact on the future earnings of the Company on a consolidated basis. The press release is attached as Exhibit 99.2 hereto. This information, including Exhibit 99.2, shall be deemed to be "furnished" in accordance with the SEC release numbers 33-8216 and 34-47583.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

Exhibit 99.1 Press release, dated May 30, 2007, issued by CKE Restaurants, Inc.

Exhibit 99.2 Press release, dated May 29, 2007, issued by CKE Restaurants, Inc.

SIGNATURES

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 hereunto duly authorized.

	CKE Restaurants, Inc.
June 1, 2007	By:	/s/ Theodore Abajian
		Name: Theodore Abajian
		Title: Executive Vice President and Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Press release, dated May 30, 2007, issued by CKE Restaurants, Inc.
99.2	Press release, dated May 29, 2007, issued by CKE Restaurants, Inc.

EX-99.1

Exhibit No. 99.1

Contact:
John Beisler
Vice President – Investor Relations
CKE Restaurants, Inc.
805-745-7750

CKE RESTAURANTS, INC. REPORTS PERIOD FOUR AND POSITIVE FIRST QUARTER BLENDED SAME-STORE SALES

Both Brands Record Highest Period Four Average Unit Volumes in Recent History

CARPINTERIA, Calif. – May 30, 2007 – CKE Restaurants, Inc. (NYSE: CKR) announced today period four same-store sales for the four weeks and quarter ended May 21, 2007, for Carl’s Jr.^® and Hardee’s^®.

Brand	Period 4		First Quarter
	FY 2008	FY 2007	FY 2008			FY 2007
Carl’s Jr.	-0.9%	+6.8%		0.0	%	+5.6%
Hardee’s	+0.6%	+7.9%		+1.8	%	+5.6%
Blended	-0.1%	+7.3%		+0.9	%	+5.6%

Commenting on the Company’s performance, Andrew F. Puzder, president and chief executive officer, said, “Period four blended same-store sales declined 0.1 percent. However, we are very encouraged by Hardee’s performance, which posted increased same-store sales for the 19^th consecutive period despite very good results in the prior year.  We remain convinced that our innovative, premium products and ongoing remodel and dual-branding programs can deliver positive sales results in the near and long-term.”

“During period four, Carl’s Jr. promoted the Buffalo Chicken SandwichÔ and Boneless Buffalo Wings. Both products are dipped in Frank’s^® RedHot^® buffalo wing sauce and received media support during the period. The brand also recently announced the introductions of the distinctive Hawaiian Teriyaki Burger™ and Orangesicle Hand-Scooped Ice Cream Shakes & Malts™, but the new menu items were not available in restaurants until after the close of period four,” said Puzder. “On a two-year cumulative basis, same-store sales at Carl’s Jr. have increased almost six percent. Average unit volumes for period four were higher than any comparable period four ever.”

Carl’s Jr. same-store sales were flat in the first quarter, compared to a 5.6 percent increase in the prior-year’s quarter. Revenue for the first quarter from company-operated Carl’s Jr. restaurants (exclusive of franchise-related revenue and royalties) was approximately $181.2 million.

“Hardee’s introduced the distinctive Breakfast Club Sandwich™ at the start of period four, made with ham, bacon, turkey, cheese and eggs on grilled sourdough bread.  The brand also introduced the Patty Melt Thickburger™ during the last week of period four although media support did not begin until period five. Featuring a 1/3-pound Angus beef patty topped with grilled onions and melted American cheese between two slices of grilled rye bread, the Patty Melt Thickburger offers guests an authentic version of a classic American burger.  In addition, the brand continued to feature the Big Twin^® and Southwest Chicken Salad™,” Puzder continued. “On a two-year cumulative basis, same-store sales at Hardee’s have increased approximately eight and a half percent.  In addition, Hardee’s period four average unit volume was higher than any comparable period four since 1994, which is as far back as we can check.”

“Hardee’s same-store sales for the first quarter increased 1.8 percent on top of a 5.6 percent increase in the prior-year’s quarter. We believe these gains reflect our continued efforts to broaden the appeal of the brand through the selective expansion of our menu as well as our ongoing customer service initiatives.” Revenue for the first quarter from

company-operated Hardee’s restaurants (exclusive of franchise-related revenue and royalties) was approximately $199.2 million.

For the first quarter, consolidated revenue from company-operated restaurants (exclusive of all franchise-related revenue and royalties) was approximately as follows:

Carl’s Jr. Hardee’s La Salsa Fresh Mexican GrillÒ	$181.2 million $199.2 million $13.4 million
Total	$393.8 million

Same-store sales results for period five of fiscal year 2007, ending June 18, 2007, will be reported on or about June 27, 2007.

As of the end of its fiscal fourth quarter on Jan. 29, 2007, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,105 franchised or company-owned restaurants in 43 states and in 13 countries, including 1,087 Carl’s Jr. restaurants, 1,906 Hardee’s restaurants and 96 La Salsa Fresh Mexican Grill restaurants.

SAFE HARBOR DISCLOSURE

Matters discussed in this news release contain forward-looking statements relating to future plans and developments, financial goals and operating performance that are based on management’s current beliefs and assumptions. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond the Company’s control and which may cause results to differ materially from expectations. Factors that could cause the Company’s results to differ materially from those described include, but are not limited to, whether or not restaurants will be closed and the number of restaurant closures, consumers’ concerns or adverse publicity regarding the Company’s products, the effectiveness of operating initiatives and advertising and promotional efforts (particularly at the Hardee’s brand), changes in economic conditions or prevailing interest rates, changes in the price or availability of commodities, availability and cost of energy, workers’ compensation and general liability premiums and claims experience, changes in the Company’s suppliers’ ability to provide quality and timely products to the Company, delays in opening new restaurants or completing remodels, severe weather conditions, the operational and financial success of the Company’s franchisees, franchisees’ willingness to participate in the Company’s strategies, the availability of financing for the Company and its franchisees, unfavorable outcomes in litigation, changes in accounting policies and practices, effectiveness of internal controls over financial reporting, new legislation or government regulation (including environmental laws), the availability of suitable locations and terms for the sites designated for development, and other factors as discussed in the Company’s filings with the Securities and Exchange Commission.

Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the New York Stock Exchange.

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Exhibit No. 99.2

Contact:
Anne Hallock
Manager, Public Relations
CKE Restaurants, Inc.
805-745-7741
ahallock@ckr.com

CKE RESTAURANTS, INC. ANNOUNCES SALE OF
LA SALSA FRESH MEXICAN GRILL^® RESTAURANTS

CARPINTERIA, Calif. – May 29, 2007 – CKE Restaurants, Inc. (NYSE: CKR), owner, operator and franchisor of the Carl’s Jr.^®, Hardee’s^®, and La Salsa Fresh Mexican Grill^® restaurant brands, announced today that it has entered into an agreement for the sale of its La Salsa Fresh Mexican Grill restaurants.  La Salsa is being acquired by Thousand Oaks, Calif.-based Baja Fresh Mexican Grill^®, led by David Kim and M Plus Capital, which is based in Santa Monica, Calif.  Under the agreement, Santa Barbara Restaurant Group, Inc., a wholly-owned subsidiary of CKE, is expected to sell its 100 percent equity interest in La Salsa, Inc. and La Salsa of Nevada, Inc.  The transaction is subject to customary closing conditions and is expected to close by the end of June 2007.  The transaction is not expected to have a material impact on the future earnings of CKE on a consolidated basis.

Andrew F. Puzder, CKE president and chief executive officer said, “Our focus is on growing Carl’s Jr. and Hardee’s, including dual branding them with our Mexican brands, Green Burrito^® and Red Burrito^™.  While we believe in La Salsa’s potential, we also believe our best opportunity for improving earnings and cash flow is to devote our resources to the future of Carl’s Jr. and Hardee’s.   As such, selling La Salsa to David Kim is in the mutual best interests of both CKE and the La Salsa brand.  David Kim is a former Carl’s Jr. franchisee whom we know well and we wish him the best with his investment in La Salsa.”

Investor David Kim said, “I am pleased that we will have two great Mexican concept brands in La Salsa and Baja Fresh. We welcome La Salsa’s employees and franchisees to our family.  The combined efficiencies and resources of these two national brands create a dynamic growth company to compete in the Mexican food restaurant market.”

As of the end of its fiscal fourth quarter on Jan. 29, 2007, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,105 franchised or company-owned restaurants in 43 states and in 13 countries, including 1,087 Carl’s Jr. restaurants, 1,906 Hardee’s restaurants and 96 La Salsa Fresh Mexican Grill restaurants.

SAFE HARBOR DISCLOSURE
Matters discussed in this news release contain forward-looking statements relating to future plans and developments, financial goals and operating performance that are based on management’s current beliefs and assumptions. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond the Company’s control and which may cause results to differ materially from expectations. Factors that could cause the Company’s results to differ materially from those described include, but are not limited to, whether or not restaurants will be closed and the number of restaurant closures, consumers’ concerns or adverse publicity regarding the Company’s products, the effectiveness of operating initiatives and advertising and promotional efforts (particularly at the Hardee’s brand), changes in economic conditions or prevailing interest rates, changes in the price or availability of commodities, availability and cost of energy, workers’ compensation and general liability premiums and claims experience, changes in the Company’s suppliers’ ability to provide quality and timely products to the Company, delays in opening new restaurants or completing remodels, severe weather conditions, the operational and financial success of the Company’s franchisees, franchisees’ willingness to participate in the Company’s strategies, the availability of financing for the Company and its franchisees, unfavorable outcomes in litigation, changes in accounting policies and practices, effectiveness of internal controls over financial reporting, new legislation or government regulation (including environmental laws), the availability of suitable locations and terms for the sites designated for development, and other factors as discussed in the Company’s filings with the Securities and Exchange Commission.

Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the New York Stock Exchange.

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