Texas Roadhouse, Inc. announced financial results for the 13- and 26-week periods ended June 28.
Results for the second quarter included the following highlights:
Comparable restaurant sales growth of 4.5 percent at company restaurants and 2.6 percent at franchise restaurants; Restaurant margin, as a percentage of restaurant sales, increased 302 basis points to 19.2 percent, primarily driven by lower food costs; Seven company-owned restaurants were opened, including one Bubba’s 33 restaurant.
Results for year-to-date included the following highlights:
Comparable restaurant sales increased 4.5 percent at company restaurants and 2.8 percent at franchise restaurants; Restaurant margin, as a percentage of restaurant sales, increased 208 basis points to 19.7 percent primarily driven by lower food costs; 14 company-owned restaurants were opened, including three Bubba’s 33 restaurants; and, The company repurchased 114,700 shares of its common stock for $4.1 million.
Kent Taylor, chief executive officer of Texas Roadhouse, Inc., comments, "Our operators continued to deliver strong operational and financial results with solid comparable restaurant sales growth and an increase in restaurant margin. Positive guest counts primarily drove the increase in comparable restaurant sales, marking our 26th consecutive quarter of growth, while lower commodity costs continued to pave the way for margin expansion. On the development front, we are on track to open approximately 30 company restaurants this year and we continue to fill our new restaurant pipeline for next year and beyond."
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