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Home market of Los Angeles suffers Q4 same-store sales declines amid virus-related restrictions and unemployment, while units outside city post gains
El Pollo Loco Holdings Inc. says its fourth-quarter earnings will reflect a COVID-19 pandemic restaurant performance that’s a “tale of two cities” in its business, company CEO Bernard Acoca said Wednesday.
The Costa Mesa, Calif.-based fast-casual brand, which presented at the virtual 23rd ICR Conference, on Tuesday release preliminary same-store sales for the fourth quarter ended Dec. 30. They showed a systemwide decrease of 0.2%, with an increase of 1.8% at franchised restaurants mostly outside pandemic-beleaguered Los Angeles but a decline of 3% at the company stores, which are predominantly in the city.
Trends in Los Angeles, which is home to 73% of the company-owned restaurants, began softening in the third quarter, Acoca said, “primar...
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