News

Revenues up 32% at Zoës Kitchen

Zoës Kitchen reported that revenue increased nearly 32 percent during Q4 2015, for the 12 weeks ended Dec. 28, 2015, as compared to the 12 weeks ended Dec. 29, 2014.

February 26, 2016

Zoës Kitchen reported that revenue increased nearly 32 percent during Q4 2015, for the 12 weeks ended Dec. 28, 2015, as compared to the 12 weeks ended Dec. 29, 2014.

"We finished 2015 with an exceptional quarter; this year marks our sixth consecutive year of strong positive comparable restaurant sales growth," said Kevin Miles, president and CEO. "The investments we are making in our people and our focus on key business strategies are driving our growth and our industry-leading performance, as well as revenue growth.”

Hightlights included:

• Total revenue increased 31.7 percent to $52.7 million.
• Comparable restaurant sales increased 7.7 percent.
• Five new company-owned restaurants opened.
• Restaurant contribution increased 41.5 percent to $10.4 million.
• Adjusted EBITDA increased 38.2 percent to $3.7 million.
• Net income was $2.6 million, or $0.13 per diluted share, compared to net loss of $1.6 million, or $0.08 per basic and diluted share. Net income included a $3.4 million benefit for income taxes.
• Adjusted net loss was $0.5 million, or $0.03 per basic and diluted share, compared to adjusted net loss of $0.7 million or $0.04 per basic and diluted share.

FY 2015 Highlights included:

• Total revenue increased 31.9 percent to $226.6 million.
• Comparable restaurant sales increased 6.3 pecent
• 34 new company-owned restaurants opened.
• Restaurant contribution increased 40 percent to $47.9 million.
• Adjusted EBITDA increased 41.5 percent to $22.3 million.
• Net income was $1.1 million, or $0.06 per diluted share, compared to net loss of $10.0 million, or $0.58 per basic and diluted share.
• Adjusted net income was $2 million, or $0.10 per diluted share, compared to adjusted net income

FY 2016 outlook

• For the fiscal year ending Dec. 26, 2016, the company currently expects the following:
• Total revenue between $275 million and $280 million.
• Comparable restaurant sales growth of 4 to 5.5 percent
• 34 to 36 company-owned restaurant openings.
• Restaurant contribution margin between 20.3 and 20.8 percent.
• General and administrative expenses between 11.6 percent and 11 percent of total revenue, inclusive of $2.1 million of non-cash equity-based compensation expense.

"I'm incredibly optimistic about our operational and financial strategies and confident we are positioned to deliver continued strong performance into the future while growing our Mediterranean lifestyle brand," Miles said.