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Zoe's Kitchen 2Q net income surges 164.5%

Zoe's Kitchen 2Q net income surges 164.5%

Same-store sales rise 7.5 percent during second quarter reporting as public company

Zoe’s Kitchen Inc.’s net income for its second quarter ended July 14 jumped 164.5 percent, compared with the same period last year, the company reported Thursday.

The Plano, Texas-based fast-casual Mediterranean operator said same-store sales rose 7.5 percent during the quarter. Traffic increased 2.8 percent and menu prices rose 2 percent.

"We opened seven new Zoës Kitchen restaurants during the quarter and we remain on track to add 29 to 30 for the year, which would represent a 29 percent increase in our restaurant base for fiscal 2014. Our 2015 development plan is also well underway with 11 signed leases,” Zoe’s chief executive Kevin Miles said in a statement.

Zoe’s ended the quarter with 122 restaurants in 15 states, 116 of which are owned by the company and six of which are franchised.
 

2Q NET INCOME

Result: $1.1 million, or 6 cents per share
% Increase: 164.5% (from $423,000, or 3 cents per share)

2Q REVENUE

Result: $41.8 million
% Increase: 54.1% (from $27.2 million)

2Q SAME-STORE SALES

% Increase: 7.5%

Source: Company report



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Contact Ron Ruggless at [email protected].
Follow him on Twitter: @RonRuggless

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