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El Pollo Loco net dips slightly
May 8, 2008
COSTA MESA, Calif. — EPL Intermediate Inc., parent company of El Pollo Loco Inc., has reported results for the 13 weeks ended March 31, 2008.
Systemwide, same-store sales increased 1.8 percent for the first quarter of 2008 as compared with the same period last year.
Operating revenues for the 13-week period increased 6.5 percent to $71.2 million, up from $66.8 million reported for the same quarter in 2007. Operating revenues include both sales at both company-owned and franchise revenues.
For the quarter, the company reported a net loss of $456,000, compared with net income of $234,000 for the same 13 weeks of 2007. The company cited a $2.4 million increase in product cost; an increase in payroll and benefit expenses of $1.4 million; and a 0.9 percent increase in other operating expense (including utilities, repair and maintenance, advertising, property taxes, occupancy and other operating expenses).
During the quarter, the company opened two new locations in Georgia, one in Illinois, two in Nevada, three in Arizona, three in California, and the company's first restaurant in Washington. El Pollo Loco operates 399 restaurants; 236 are franchise owned and 163 are company owned.
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