Bravo Brio Restaurant Group Inc. said Monday that same-store sales fell 1 percent at its Bravo Cucina Italiana and Brio Tuscan Grille concepts in the second quarter ended June 25.
The performance marked the 18th consecutive quarterly same-store sales decline at the Columbus, Ohio-based operator. But it was also the company’s best showing since the fourth quarter of 2012.
“We are gaining traction with our new menus and service orientation, our banquet facilities and our off-premise capabilities,” Bravo Brio CEO Brian O’Malley said in a statement.
Bravo Brio has struggled to generate positive same-store sales for years amid a weakening restaurant environment, especially for casual-dining chains.
Under O’Malley, Bravo Brio has closed restaurants while focusing on more banquet business. The chains have set aside areas in the dining rooms during weeknights for private parties.
The company has also worked to improve to-go orders and has introduced new menus at its two concepts.
Bravo Brio reported the same-store sales results on the same day that it acknowledged an extension of a waiver regarding requirements in its credit agreement with Wells Fargo and other lenders. The company had fallen out of compliance with a provision in its credit agreement related to the amount of debt compared with its profitability.
By getting a waiver, the company said it will have more time to amend its lending agreement to provide “greater financial flexibility.”
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