News
El Pollo Loco comps increase, net drops
November 8, 2007
COSTA MESA, Calif. — Same-store systemwide sales for the El Pollo Loco restaurant chain, owned by EPL Intermediate Inc., increased 2.2 percent in the third quarter ended Sept. 30, 2007, the company has announced.
Company-operated comps increased 1.7 percent while franchise-owned same-store sales increased 2.5 percent.
El Pollo Loco reported operating revenues of $72.3 million for the quarter, a 9 percent increase over $66.3 million reported for the same period last year.
The company also reported a net loss of $4 million for the third quarter compared with net income of $0.5 million reported for 3Q '06.
During the third quarter, El Pollo Loco sold eight company-owned restaurants in Southern California to existing franchisees in exchange for $7.5 million in cash. The company used the cash from the sale to acquire three high-volume franchise restaurants in Las Vegas for $8.5 million. With the acquisition, the company now has 11 company-owned restaurants in Las Vegas.
Systemwide comps for the 39-week period ended Sept. 30, 2007,increased 2.6 percent, with company-operated comps increasing 1.7 percent and franchise restaurant sales increasing 3.4 percent.
Revenues were $208.8 million, an increase of 6.9 percent over operating revenues for of $195.3 million for the same period last year.The company also reported a net loss of $2.4 million for the period, a decrease of $4.2 million from net income of $1.8 million for the same period last year.
Related Media
Subscribe
Get the latest news and resources from QSR Web.
