ATLANTA Despite the struggling economy Chick-fil-A said Thursday that its sales in 2008 jumped more than 12 percent on new restaurant openings and same-store sales gains.
The parent to the 1,425-unit quick-serve chain, which is best known for its fried and grilled chicken sandwiches, said its positive results came despite growing competition from much larger national brands like McDonald’s, which introduced last year a southern-style fried chicken sandwich.
“Chick-fil-A was able to endure a number of challenges that could have been detrimental to any other chain, including targeted product competition among our quick-service rivals and a challenging economic environment,” said Dan T. Cathy, Chick-fil-A’s president and chief operating, “but our restaurant operators and team members remained committed to excellence, which resulted in another solid sales year.”
The chain’s systemwide sales in 2008 rose 12.2 percent from the year earlier to $2.96 billion. Same-store sales rose 4.6 percent for the year, the company said.
The performance signaled the Chick-fil-A’s 41st consecutive year of systemwide sales gains and the 16th straight year of double-digit sales growth, it said. In 2007, the chain booked $2.64 billion in sales and posted an 8.5 percent same-store sales gain.
The company noted that in 2008 it opened 83 new restaurants. It expects to open 76 additional locations this year, including 64 stand-alone units, two stores at mall locations and 10 licensed outlets. It also plans to renovate about 65 existing restaurants during 2009.
Contact Elissa Elan at [email protected].