Del Taco early financials show 13 straight quarters of system sales growth
In its preliminary unaudited fiscal fourth quarter and fiscal year 2016 sales results, Del Taco reported that it was marking 13 consecutive quarters of system-wide sales growth and 18 straight quarters of company-owned store sales growth. Highlights of the quarter ending, Jan. 3, 2017, included:
- 5.5 percent system-wide comparable restaurant sales growth and 5.3 percent company-owned comparable restaurant sales growth.
- Company-owned comparable restaurant sales growth comprised 3.3 percent check growth, including nearly 1 percent of menu mix growth, and 2 percent transaction growth.
- 12.6 percent growth in total revenue from the same quarter of the previous year to $150.2 million, with $8.3 million in Q4 week 17.
- 6.4 percent total revenue growth on a 16-week basis (excluding week 17), from fiscal fourth quarter of 2015.
- 12.7 percent growth year over year in company restaurant sales of approximately $144.4 million.
- 6.5 percent company restaurant sales growth year over year on a 16-week basis (excluding $8 million in week 17).
- 13 new system-wide openings in 2016, to total of 551 system-wide in 15 states, with 241 franchised.
"We believe our 5.5 percent comparable restaurant sales performance for the fiscal fourth quarter, representing 11.3 percent on a two-year basis, will place us among select company within the restaurant industry and we thank all of our team members for their contributions to these outstanding results," CEO Paul J.B. Murphy, III, said in a news release.
"2016 marked another successful year at Del Taco during which we continued to elevate and solidify our QSR+ positioning through solid execution and product innovation across our tiered menu strategy. In particular, our June launch of fresh combined solutions with our new Del Taco product and the recent launch of Platos, our first occasion-based food platform, combined to drive strong transaction trends and menu mix improvement during the fiscal fourth quarter. … We intend to build on the success of our fresh combined solutions strategy as we take our brand to the next level.”