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Habit Burger Grill's 2Q same-store sales up 8.9%

Habit Burger Grill's 2Q same-store sales up 8.9%

The fast-casual chain’s transactions increased 3.8 percent

Habit Burger Grill parent Habit Restaurants Inc. on Wednesday reported an 8.9 percent increase in systemwide same-store sales for its June 30-ended second quarter.

The comparable-sales increase was driven primarily by a 5.1 percent increase in average check, along with a 3.8 percent increase in transactions, the company said.

Net income increased 4 percent to $2.4 million, or 5 cents per diluted share, compared with $2.3 million a year ago, before the company’s initial public offering in November 2014.

Revenues were up nearly 37 percent to $56.7 million, compared with $41.5 million the prior year.

“We are very pleased with our comparable sales growth during the quarter, not only in terms of the strength of the increase, but also its consistency, as it marked our 46th consecutive quarter of growth,” said Russ Bendel, The Habit Restaurants’ president and CEO, in a statement.

“We opened four new Habit Burger Grills during the second quarter, including our first location in Florida, which is our fifth state of operation,” he added. “We believe there’s an opportunity for substantial development in both new and existing markets, and we expect to double our restaurant base over the next four years.”

For the full year, the company expects revenues to range between $225 million and $227 million, with same-store sales growth of about 5 percent.

The company plans to open between 26 and 28 new restaurants, and three to five franchised or licensed units are also projected for the year.

At the end of the quarter, there were 118 Habit Burger Grill locations in California, Arizona, Utah, New Jersey and Florida.

Contact Lisa Jennings at [email protected].
Follow her on Twitter @livetodineout

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