Consistent Sales and Traffic Growth
The company reported its fifth consecutive quarter of sales and traffic growth, with Q3 same-store sales growth of 0.5% and an average of 1.5% comp growth in the final two months of the quarter.
Improved Profit Margins
Q3 delivered 12.5% restaurant level operating margins and 6.4% EBITDA margins, showing an improvement of 80 and 70 basis points, respectively, year-over-year.
Successful Marketing Strategies
The marketing focus on social media and seasonal promotions resulted in a 300% increase in earned media impressions and a 350% increase in overall engagement.
Increased Share Repurchase Authorization
The company repurchased and retired 996,000 common shares for $33.2 million during Q3, with the Board authorizing an additional $75 million in share repurchases.