Irvine-based Mimi’s Café posted a narrowed loss in a fiscal first quarter ended July 27, while its same-store sales continued to fall.
The French countryside-themed restaurant chain, part of Ohio-based Bob Evans Farms Inc., operates 145 restaurants, mostly in California and neighboring states.
Mimi’s saw a quarterly loss of $800,000, down from $1.1 million in red ink a year earlier.
A trend of declining same-store sales marked most of last year and continued with Mimi’s seeing a 3% dip in same-store sales in the latest quarter. The chain’s quarterly revenue fell 3% to $86.3 million.
Mimi’s has launched new menu options, promotions and full bars at some restaurants.
Bob Evans said it expects Mimi’s same-store sales to be down 2% to up 1% for the fiscal year.
Bob Evans reportedly has been shopping Mimi’s. An industry report pegged the chain’s value in excess of $200 million and suggest a private equity buyer would be most likely.
—Kari Hamanaka
