RISE - Menu Monitor

Steak N Shake reported for the first quarter ended December 20 net earnings declined 10.6% to $4.2 million from $4.7 million
for the same period last year. Revenues grew 6.1% to $147.3 million from $138.7 million. Same-store sales fell 1.7%.
(Company Release 1/24/07)
Steak N Shake reported for the first quarter ended December 20 net earnings fell 10.6% to $4.2 million from $4.7 million for
the same period last year. Revenues increased 6.1% to $147.3 million from $138.7 million. Same-store sales declined 1.7%.
(Company Release 1/24/07)
Steak N Shake reported for the second quarter ended April 11 net earnings declined 29.8% to $6 million from $8.5 million for
the same period last year. Revenues increased 2.3% to $202.2 million. Same-store sales fell 4.7%. (Nation’s Restaurant News
5/21/07 p16)
Steak n Shake has begun to evolve its strategic plan. Under the direction of the company’s new interim chief executive officer,
Alan Gilman. The plan includes intensifying focus on field leadership, simplifying initiatives and improving store-level training.
(Phoenix.corporate-ir.net 8/23/07)
Steak n Shake was criticized by shareholder Sardar Biglari, Western Sizzlin chairman. Biglari sent a letter to the chain’s
shareholders criticizing what he called the chain’s “failed vision, failed strategy, failed execution, and failed board.” Biglari
currently has a 6.7% stake in Steak n Shake. In the letter, he also reiterated his intention to seek seats for himself and an
associate on Steak n Shake’s board. (NRN Daily NewsFax 10/2/07)
Steak n Shake is set to donate Steakburger patties to America’s Second Harvest in a gift-card promotion. Through December
24, the burger chain will donate one patty for every $5 worth of gift cards it sells. The company is also donating 80,000 patties
November 13 to Second Harvest food banks in Indianapolis, St. Louis and Peoria, IL. The promotion is the fifth consecutive
year that Steak n Shake has worked with America’s Second Harvest. (Company Release 11/13/07)
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