Chuy’s Holdings Inc. reported essentially flat net income in the March 30-ended first quarter as compared with the prior-year period, while revenues increased 19.8 percent.
Steve Hislop, president and chief executive of Austin, Texas-based Chuy’s, said in a statement that the company faced “short-term cost challenges related to commodities, increased labor related to new openings, and weather.”
Chuy’s owns and operates 52 casual-dining Tex-Mex restaurants in 14 states. The company said it has opened four new restaurants toward of its goal of 10 to 11 new openings this year.
1Q NET INCOME
Result: $2.63 million, or 16 cents per share% Decrease: 0.3% (from $2.64 million, or 16 cents per share)
1Q REVENUE
Result: $56 million% Increase: 19.8% (from $46.7 million)
1Q SAME-STORE SALES
% Increase: 4.2%Source: Company report
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