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Del Frisco’s total same-store sales edge up in 2Q

Measure declines at Double Eagle and Grille; Barcelona and Bartaco book increases

As it prepares for its previously announced sale to L Catterton, Del Frisco’s Restaurant Group Inc.’s same-store sales for the second quarter ended June 25 were up 0.5% at its four concepts, the company reported Tuesday.

Irving, Texas-based Del Frisco’s, which owns the Double Eagle Steakhouse, Del Frisco's Grille, Barcelona Wine Bar and Bartaco brands, said customer counts were down 1.2% in the quarter and average check was up 1.7%.

By brand, same-store sales were down 1.5% at the Double Eagle and down 0.6% at the Del Frisco’s Grille and up 2.4% at Barcelona and up 5.5% at Bartaco.

On June 24, Del Frisco’s announced that it had agreed to sell to affiliates of L Catterton, a private-equity firm, in a cash transaction valued at about $650 million. Del Frisco’s said it expects to complete that transaction, which priced Del Frisco’s shares at $8, by the fourth quarter, subject to approval by Del Frisco’s shareholders and other customary closing conditions.

For the second quarter, the Del Frisco’s group said its net loss widened to $6.4 million, or 19 cents a share, from $1.7 million, or 8 cents a share, in the same period last year. Revenues increased 73.9% to $131.7 million from $75.7 million in the prior-year quarter.

The revenue increase was primarily credited to the $21.1 million contribution from Barcelona Wine Bar and a $28.2 million contribution from Bartaco. In the second quarter, the company opened one new Barcelona Wine Bar in Raleigh, N.C., and a Bartaco in Deerfield, Ill.

Del Frisco's Restaurant Group has 78 restaurants across 17 states and Washington, D.C.,

Contact Ron Ruggless at [email protected]

Follow him on Twitter: @RonRuggless

TAGS: Finance
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