Fiscal ’16 revenue up 15.2% for Chuy’s
Profit at Tex-Mex chain, now with 80 eateries, up 17% during the year.
Austin-based Chuy’s Holdings Inc. saw its revenue jump 15.2 percent in fiscal 2016, hitting $330.6 million, the Tex-Mex chain said Tuesday.
That’s up from $287.1 million in fiscal 2015.
A good chunk of that growth was fueled by the addition of new locations, the company said, with comparable restaurant sales up just .8 percent year over year.
Adjusted net income was $18.3 million, or $1.08 per diluted share, in fiscal 2016, compared to $15.6 million, or 93 cents per diluted share.
“We grew our revenue over 15 percent during 2016, drove positive comparable store sales for the seventh year in a row and produced adjusted net income growth of 17 percent,” Chuy’s president and CEO Steve Hislop said in a written statement.
“We also successfully opened 12 new Chuy’s restaurants during the year, a 17 percent increase in our store base and a key driver of our growth. We have now opened 72 restaurants in 15 states in the last 106 months, bringing our total count to 80 restaurants as of Dec. 25, 2016,” Hislop said.
Since the start of the new fiscal year, Chuy’s has opened two additional locations, including one in Cedar Park, at 4911 183A toll road. The other is in Cumberland, Ga.