The Company expects to report fiscal first quarter 2008 revenue of $136 million compared to $147 million in the comparable period last year. Same store sales are expected to decline 9.5% as guest traffic was impacted by deterioration in the consumer economic environment, a prior year incremental coupon that was not repeated in the current year, unfavorable weather in the month of December, aggressive promotional activity from competitors, and ongoing issues with store level execution. As a result, the Company expects to report a fiscal first quarter 2008 loss per share within a range of ($0.04) to ($0.05) compared to diluted earnings per share in the prior year of $0.15.
Fiscal 2008 Guidance
Given the difficult first quarter preliminary results and the current challenging economic environment, the Company's guidance for the year should no longer be relied upon. Further information regarding our guidance for the remainder of fiscal 2008 will be provided on the Company's earnings call, which is scheduled for January 24, 2008.
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