Skip navigation
Habit Restaurants logo

Habit Restaurants 3Q same-store sales rise 2.9%

Unit openings to accelerate in 2016

The Habit Restaurants Inc. posted a nearly 5-percent increase in net income for the third quarter, and unit growth is expected to accelerate next year, the company said Wednesday.

“Our 47th consecutive quarter of comparable sales growth is a great accomplishment for the company,” Russ Bendel, Habit Restaurants president and CEO, said in a statement. “Our culture of putting our guests first and being highly focused on operations has resulted in our ability to grow comp-store sales consistently over a very long period of time.”

Net income was $2.2 million, or 7 cents per share, for the Sept. 29-ended quarter, compared with $2.1 million a year ago, before the Irvine, Calif.-based chain went public in November 2014.

Habit Restaurants Inc. is the parent company to the fast-casual Habit Burger Grill brand.

Adjusting for costs related to the initial public offering, fully distributed pro forma net income was $1.7 million, or 6 cents per share, compared with $1.2 million, or 5 cents per share.

Revenues climbed to $58.6 million, compared with $47 million a year ago, on same-store sales that increased 2.9 percent at company-operated restaurants.

Same-store sales were driven by a 0.8-percent increase in transactions and 2.1-percent growth in average check.

During the quarter, the company opened seven new restaurants, including a second unit if Florida, and three licensed or franchised units. The chain finished the quarter with 124 company-owned and four franchised or licensed locations.

The company expects to open between 26 and 28 company-operated locations this year, increasing that growth to between 30 to 32 company units in 2016.

For the full fiscal 2015, Habit projects same-store sales growth of about 6 percent, including an increase of 2 percent to 3 percent for the fourth quarter.

Contact Lisa Jennings at [email protected].
Follow her on Twitter: @livetodineout

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish