El Pollo Loco Holdings Inc. (Nasdaq: LOCO) CEO Bernard Acoca was upbeat in providing the Costa Mesa’s restaurant chain’s quarterly results last week.
The company’s fiscal third quarter ended Sept. 23 saw the chain’s same-store sales turn positive, up 1.8%, with growth in both the company-owned and franchised channels.
Acoca said the pandemic “will likely continue to present challenges” but the company’s made progress on its growth plans as off-premise, such as drive-thru and delivery, help drive the business.
“Our culture and brand fundamentals are now well-established, and we are driving against our off-premise strategies,” he said. “Our new product pipeline has never been stronger, and our operations continue to improve as we institute systems and processes to ensure our guests have an exceptional experience at our restaurants.”
The company integrated and rolled out curbside pickup through its app in late September, adding to its strategy to expand services outside of in-restaurant dining.
Before that was the launch of its Loco Rewards program, all of it aided on the backend by Interpublic Group of Co. agency Initiative, which won the El Pollo’s $30 million media planning and buying business, amid a greater push on digital media spend.
El Pollo Loco ended the September quarter with net sales of $111 million, compared to $112.1 million in the year-ago period. Analysts on average expected revenue of $112.2 million.
The company reported earnings of $9.9 million, up from $6.4 million and beating consensus estimates of $7.8 million.
El Pollo Loco currently has more than 475 locations and counted a market cap of $632 million as of late last week.
