Strong Same-Restaurant Sales Growth
Chili's delivered a strong quarter with same-restaurant sales up 31.6% and traffic up 21%.
Impressive Restaurant Operating Margin
Chili's achieved an 18.9% restaurant operating margin for the quarter, driven by sales leverage and simplification.
Successful Marketing Initiatives
The Big QP launch and associated marketing efforts generated more impressions than the Big Smasher launch, boosting brand awareness.
Operational Improvements
Implemented significant operational improvements, including menu simplification and enhanced kitchen display systems.
Record-Setting Margarita Sales
The marketing team's enhanced Margarita strategy led to record-breaking Margarita of the Month sales.
Positive Financial Performance
Brinker reported total revenues of $1.425 billion with consolidated comp sales of positive 28.2%. Adjusted diluted EPS for the quarter was $2.66, up from $1.24 last year.
Debt Reduction
Repayment of approximately $125 million in funded debt, reducing overall lease adjusted leverage ratio to 1.9 times.