News

Zoe's comps up 6.3 percent YTD

Zoe's attributes the comp increase to an increase in transactions and product mix, combined with a 1.3-percent increase in price.

November 21, 2014

Zoe's Kitchen Inc. reported comp increases of 5.9 percent for Q3 2014. Year to date, comps have increased 6.3 percent.

The quarterly comp increase was attributed to a 2.7-percent increase in transactions and a 1.9-percent increase in product mix, combined with a 1.3-percent increase in price. The comparable restaurant base includes those restaurants open for 18 periods or longer and included 78 restaurants.

"Fiscal third quarter results reflect our continued business strength and ability to successfully grow our brand," CEO Kevin Miles said in a news release. "The 5.9-percent increase in comparable restaurant sales marks our 19th consecutive quarter of positive growth which, together with sales contributions from new units, drove a 49-percent increase in revenues."

Miles added, "Zoës Kitchen has forged a path as a truly differentiated and industry-leading Mediterranean fast casual, lifestyle brand. We have nearly completed our 2014 development plan with 29 openings to date and will have increased our store base by 30 percent by year end. Our new restaurants are strong contributors, and we intend to maintain our momentum in the coming year with a strong pipeline of 30 to 32 new Zoës Kitchen restaurants."

The company expects to finish the year with comps up 6.0 percent to 6.3 percent.