News

Zoës Kitchen Q1 comp sales up nearly 6%

June 9, 2014

Zoës Kitchen Inc. last week reported financial results for the 16 weeks ended April 21. Compared to the same period in 2013, the company reported:

• total revenue increased 47.4 percent, to $46.3 million;
• comparable restaurant sales increased 5.7 percent;
• 13 company-owned restaurants were opened, and two franchise restaurants were acquired; and
• adjusted EBITDA increased 42.5 percent to $3.8 million.

"I’m excited to share the results for first quarter and couldn't be more proud of the team's performance and their commitment to key initiatives. We successfully opened 13 new restaurants while delivering strong growth in comparable restaurant sales and adjusted EBITDA," CEO Kevin Miles said in a news release. "We’re looking forward to building on this momentum and remain focused on delivering long term shareholder value."

Comparable sales were driven by a 4.1 percent increase in traffic and mix, combined with a 1.6 percent increase in price, the release said.

Zoës went public on April 16, opening at $15 per share.