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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