Diners eager to get their Tex-Mex fix helped boost second quarter revenue for
For the quarter, revenue was
Comparable restaurant sales were up, coming in 2.4 percent higher than last year. The average check increased by 1.5 percent and the average number of weekly customers grew by .9 percent.
"We maintained our top-line momentum in the second quarter," president and CEO
Net income for the quarter was
The company's shares closed down 1.9 percent Tuesday, at
Challenges the company has faced in recent months, according to Hislop, include higher labor costs related to opening additional locations and increases in food prices for some beef, dairy and produce items. Hislop said he expects those issues to persist into the next quarter.
Chuy's, which started in 1982 with a single location on
Already during the third quarter, two additional locations have opened -- one each in
"Our 2014 development plan, which now includes 11 new units -- versus a range of 10 to 11 units previously -- is on track," Hislop said. "Our development strategy will include opening 80 percent of our new units in 2014 through 2015 in markets with existing Chuy's restaurants. We believe this strategy will continue to drive awareness for the Chuy's brand and provide a solid geographic footprint for continued growth."
Locations under development include ones in
For fiscal 2014,
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