Zoe's Kitchen reports first earnings as public company

Zoe's Kitchen reports first earnings as public company

While 1Q revenue soared, the company reported a net loss of $10M

Zoe’s Kitchen Inc. reported Tuesday a 47.4-percent increase in revenue for the first quarter ended April 21 over the comparable 16 weeks in the prior year, in its first earnings report as a public company.

On April 11, the first day of its IPO [3], the Plano, Texas-based fast-casual operator saw its stock price rise about 64.8 percent [4] from its opening price of $15 a share.

The company recorded a net loss for the quarter, of $10 million, or 76 cents per share, compared with a loss of $1.4 million, or 11 cents per share, in the comparable period a year ago.

In its first 16-week report, the company said it opened 13 new Zoës Kitchen restaurants and acquired two franchised restaurants. As of April 21, the company had 109 company-owned restaurants and six franchised units. Zoe’s has opened five additional restaurants since that period ended.
 

1Q NET LOSS

Result: -$10 million, or 76 cents per share
(from -$1.4 million, or 11 cents per share)

1Q REVENUE

Result: $46.3 million
% Increase: 47.4% (from $31.4 million)

1Q SAME-STORE SALES

% Increase: 5.7%

Source: Company report



RELATED:
Zoës Kitchen parent files for $80.5M IPO [5]
Zoe’s Kitchen plans expansion after successful IPO [6]
• More restaurant finance news [7]

Contact Ron Ruggless at [email protected] [8].
Follow him on Twitter: @RonRuggless [9]