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Tuesday, May 24, 2022

El Pollo Loco Same-Store Sales Growth Continues

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El Pollo Loco Holdings Inc. (Nasdaq: LOCO) said the positive same-store sales trend from the recently ended quarter continues into the current period as the chain adjusted to operating amid the pandemic.

The Costa Mesa-based restaurant operator said same-store sales are now up 2.8% to date.

The company, which counts more than 475 company-owned and franchised restaurants, said most restaurants are operating without indoor dining in a bid to stem COVID-19’s spread. There are 192 out of 196 company-owned and 279 out of 283 franchised locations open.

The update was delivered with the company’s report for the second quarter ended June 24 in which it notched better-than-expected results.

El Pollo Loco’s revenue, while down 12.4% from a year ago to $99.6 million, still beat analyst projections of $95.9 million. The company reported net income of $5.5 million, surpassing consensus estimates of $1.6 million. El Pollo Loco shares were up 2.6% in after-hours trading Thursday to $17.20 for a market cap of $604 million.

Go here for more on how the OC business community is responding to COVID-19.

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