News

Bojangles releases Q1 results, pushes value, core menu items

May 10, 2018

Bojangles' released its 2018 Q1 results with a pledge to focus on "well-run" restaurants and core menu items in the year ahead. The chain's total revenues grew 2.7 percent to $137.5 million from $133.9 million in the prior year fiscal quarter, a news release said. 

System-wide comparable restaurant sales fell 0.6 percent, with company-operated comparable restaurant sales down 1.8 percent and franchised comp sales up 0.2 percent. The company also opened one company-operated location and five franchised restaurants, during the quarter, while eight franchised restaurants closed.

Other results for the quarter ending April 1, include:

• Net Income was $4.7 million as compared to $7.5 million in the prior year fiscal quarter.
• Diluted net Income per Share was $0.12 as compared to $0.19 the prior year.
• Adjusted Net Income was $6.7 million as compared to $7.6 million the prior year.
• Adjusted Diluted Net Income per Share was $0.18 as compared to $0.20 in the prior year.  
• Adjusted EBITDA was $16.4 million, compared to $18.9 million the prior year

"We are pleased our system-wide comparable restaurant sales trends improved sequentially during the first fiscal quarter 2018 relative to the fourth fiscal quarter 2017 and turned slightly positive in our March fiscal period," Bojangles' Interim President and CEO Randy Kibler, said in the release. "Going forward, our key areas of focus will be on well-run restaurants, communicating and promoting our core menu items, and incorporating these key signature products into our value messaging. We believe that these efforts will resonate with our customers."