Fis­cal ’16 rev­enue up 15.2% for Chuy’s

Profit at Tex-Mex chain, now with 80 eater­ies, up 17% dur­ing the year.

Austin American-Statesman - - BUSINESS - By Gary Dinges gdinges@states­ Chuy’s

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.

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