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Thursday, September 4, 2014

El Pollo Loco reports first earnings as public company

  • Second-quarter same-store sales rise 5.4 percent
  • LOCO +4% a/h
El Pollo Loco Holdings Inc. reported Thursday a 5.4-percent increase in systemwide same-store sales in its first quarterly report as a public company.

For the second quarter ended June 25, the Costa Mesa, Calif.-based quick-service operator recorded a 10-percent increase in pro forma net income, to $6.1 million, or 16 cents per share, compared with $5.5 million, or 15 cents per share, a year ago, adjusting for charges related to the company’s July 30 initial public offering.

A 5-percent increase in same-store sales at company-owned restaurants included a 2.8-percent increase in average check and a 2.2-percent rise in traffic.

“Our success continues to be driven by our compelling value proposition and the growing appeal of healthier, better-for-you offerings found on our menu. Our signature citrus-marinated, fire-grilled chicken and hand-chopped entrées offered at quick-service price points reinforce our QSR-plus positioning,” El Pollo Loco Holdings Inc. president and chief executive Steve Sather said.

El Pollo Loco operates and franchises more than 400 restaurants in Arizona, California, Nevada, Texas and Utah.

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