Tex-Mex chain reports 7.6-percent increase in net income
.svg?width=1280&auto=webp&quality=95&format=jpg&disable=upscale "Nation's Restaurant News")
Chuy's Holdings Inc., the Tex-Mex casual-dining operator, saw a slight increase in same-store sales boost its net income for the second quarter ended June 26, the company reported Tuesday.
The Austin, Texas-based company said second-quarter net income rose 7.6 percent, to $5.8 million, or 34 cents a share, from $5.4 million, or 32 cents a share, in the prior-year period. Revenue increased 16.6 percent, to $87.9 million, from $75.4 million in the same quarter last year.
Same-store sales increased 1 percent in the quarter, including a 1.5-percent increase in average check and a 0.5-percent decline in average weekly customers.
“We also extended our consecutive streak of positive quarterly comparable sales growth to 24 quarters, despite some weather-related issues in Texas,” said Steve Hislop, Chuy’s president and CEO, in a statement.
“Our development calendar has been active with the opening of four new Chuy's restaurants during the second quarter, and we have already opened two additional restaurants early in the third quarter,” Hislop said. “With eight restaurants open year-to-date, we are on pace to reach our goal of 11 to 13 new restaurants for 2016."
During the second quarter, new Chuy's restaurants opened in Cary, N.C.; Fort Worth, Texas; Tallahassee, Fla.; and Sterling, Va. Thus far in the third quarter, the company has opened two additional restaurants in Chattanooga, Tenn., and Winter Park, Fla.
Chuy's owns and operates 77 restaurants in 15 states.
Contact Ron Ruggless at [email protected]
Follow him on Twitter: @RonRuggless
