Zoe’s Kitchen Inc. narrowed its loss in the fourth quarter ended Dec. 29, with same-store sales rising 7.8 percent over the previous year, the company reported Wednesday.
The Plano, Texas-based fast-casual operator said it opened six restaurants in the fourth quarter and acquired three franchised units. Zoe’s plans to open between 31 and 33 new restaurants this year, the company said in guidance.
"We believe that our results, led by our 20th straight quarter of comparable restaurant sales growth, reflect our positioning as both a leading lifestyle brand and the dominant player in the Mediterranean fast-casual space," Kevin Miles, Zoe’s president and CEO, said in a statement.
As of Dec. 29, the company had 139 restaurants in 15 states.
4Q NET LOSS
Result: -$1.6 million, or -8 cents per share(from -$3.1 million, or -25 cent per share)
4Q REVENUE
Result: $40 million% Increase: 39.5% (from $28.7 million)
4Q SAME-STORE SALES
% Increase: 7.8%Source: Company report
FULL YEAR NET LOSS
Result: -$10 millon, or -58 cents per share(from -$3.7 million, or -30 cents per share)
FULL YEAR REVENUE
Result: $171.7 million% Increase: 47.6% (from $116.4 million)
FULL YEAR SAME-STORE SALES
% Increase: 6.7%Source: Company report
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