Columbus, Ohio-based Bravo Brio Restaurant Group Inc., the operator of Bravo! Cucina Italiana and Brio Tuscan Grille, struggled in the June 30-ended second quarter as lower guest counts at both concepts dragged down profit and same-store sales. The decline in same-store sales was more pronounced at Brio, where a “Light Side of Tuscany” menu proved popular with guests but drove a menu-mix-related decline in average check. As a result of sales and earnings not meeting expectations, the company, which has 103 units, updated its guidance for fiscal 2013, taking down revenue projections to a range of $414 million to $420 million, from a previous range of $420 million to $430 million. The company expects full-year same-store sales to fall between negative 3 percent and negative 1 percent, versus a previous guidance of negative 1 percent to a 1-percent gain.
NET INCOME
Result: $4.5 million, or 22 cents per share% Decrease: 11.8% (from $5.1 million, or 25 cents per share)
REVENUE
Result: $105.6 million% Increase: 2.7% (from $102.8 million)
SAME-STORE SALES
% Decrease: 3.0%
Including declines of 1.6 percent at Bravo Cucina Italiana and 3.6 percent at Brio Tuscan Grille
Source: Company report
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• Same-store sales at NRN.com
Contact Mark Brandau at [email protected].
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