El Pollo Loco swings to 3Q loss, closes 3 Texas restaurants

Shares slide sharply as Mexican chain lowers outlook

El Pollo Loco Holdings Inc.’s closure of several restaurants in its newer Texas market and lowered earnings guidance for the full year led its stock price to slide Friday.

The Costa Mesa, Calif.-based quick-service brand is seeing “ongoing challenges in our Texas markets,” said Steve Sather, El Pollo Loco CEO and president, in a third-quarter earnings call late Thursday.

For the third quarter ended Sept. 27, El Pollo Loco swung to a loss of $4 million, or 11

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