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Qdoba same-store sales increase 14 percent in Q1

Qdoba Mexican Grill reported a 14 percent same –store sales increase system-wide in Q1 2015, with a 12.9 percent increase for company-owned stores and a 15.1 percent increase for franchise stores, according to a release.

February 18, 2015

Qdoba Mexican Grill reported a 14 percent same –store sales increase system-wide in Q1 2015, with a 12.9 percent increase for company-owned stores and a 15.1 percent increase for franchise stores, according to a release.

Lenny Comma, chairman and chief executive officer of parent company Jack in the Box, credited the sales increase to Qdoba's new simplified menu pricing structure. Traffic and catering also increased, and discounting decreased.

Restaurant operating margin for Qdoba restaurants increased 290 basis points to 19.3 percent of sales, due primarily to sales leverage, including the benefit of the new menu pricing structure, which was partially offset by commodity inflation of approximately 6.2 percent.

Qdoba is forecast to realize a same-store sales increase in the high single digits in Q2 and FY 2015, and anticipates opening 50 to 60 new units this year, approximately half of which will be company locations.

Qdoba currently has more than 600 restaurants in 47 states.