Officials for Columbus, Ohio-based Bravo Brio Restaurant Group Inc. said harsh winter weather caused mid-single-digit decreases in same-store sales for its two casual-dining Italian chains in the first quarter. That led to a 14.7-percent decrease in net income, to $2.9 million, in the quarter ended March 30.
However, the company expressed confidence that it could build sales momentum in the spring and summer months with new initiatives like a bar program with tiered price points, a new weekend brunch program and the expansion of the brands’ lighter-fare menus.
The company operates 46 Bravo! Cucina Italiana units and 60 Brio Tuscan Grille outlets in 33 states.
1Q NET INCOME
Result: $2.9 million, or 14 cents per share% Decrease: 14.7% (from $3.4 million, or 17 cents per share)
1Q REVENUE
Result: $102.6 million% Decrease: 0.4% (from $103.1 million)
1Q SAME-STORE SALES
% Decrease at Bravo! Cucina Italiana: 5.5%
% Decrease at Brio Tuscan Grille: 4.4%
Source: Company report
RELATED:
• Bravo Brio 4Q net income drops on impairment charges
• Bravo Brio 2Q profit, same-store sales decline
• More restaurant finance news
Contact Mark Brandau at [email protected].
Follow him on Twitter: @Mark_from_NRN
