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Article: Koo Koo Roo yanks its share price out of the fire; new products, cutbacks form firm's recipe for success. (Koo Koo Roo Inc.)
- Article from:
- Los Angeles Business Journal
- Article date:
- May 24, 1993
- Author:
CopyrightCOPYRIGHT 1993 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Stock prices of Los Angeles-based Koo Koo Roo Inc., a fast-food chain specializing in skinless chicken, made a slight recovery in early May after nose-diving to 25 cents per share last year.
Rapid expansion, California's recession and store revamps hammered company profits and stock prices. Koo Koo Roo's stock dropped to its 52-week low of 25 cents per share on Oct. 20, just a year after the company went public in October 1991 at $5 per share.
However, overhead cutbacks, new products and the closure of less profitable stores have slightly boosted investor confidence and Koo Koo Roo stock prices. The company's stock closed at $1.25 per share on May 17.
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