Brinker Reports Modest Improvement in Year-End Results
Brinker International reported results for the fiscal fourth quarter and year ended June 26, 2013, including an increase from $2.82 billion in 2012 revenues to $2.846 billion in 2013 revenues.
Net income for the year showed more positive acceleration, growing from $151 million to $163 million this year.
Overall, the company’s fourth quarter sales of $730 million were slightly ahead of fourth quarter 2012, which ended at $728 million.
However, Chili’s fourth quarter sales of $615.7 million represent a 0.2 percent decrease from $616.8 million in the prior year, and were attributed to declines in restaurant traffic.
On June 1st, the company completed the acquisition of 11 Chili's restaurants in Alberta, Canada.
Maggiano's fourth quarter sales of $93.4 million represented a 0.1 percent increase, which the company attributed primarily to favorable mix and menu pricing. On another positive note, Maggiano's comparable restaurant sales increased 0.2 percent, representing the 14th consecutive quarterly increase.
Brinker International anticipates comparable restaurant sales will increase 1 to 2 percent in 2014, and chief executive Wyman Roberts expressed optimism, stating: "We are confident we will achieve our previously stated goal of doubling our fiscal 2010 earnings per share next fiscal year, a full year ahead of schedule."