Brinker International posted a year-over-year increase of 5.8 per cent in comparable restaurant sales for the first quarter of FY24.
Chili’s comparable restaurant sales were up 6.1 per cent, while Maggiano’s also saw sales growth of 2.6 per cent, primarily due to increased menu pricing and favorable item mix.
The company’s total revenues rose 6 per cent to $1.012 billion, with an operating income of $24.2 million compared to an operating loss of $19.8 million in the year-ago period.
Kevin Hochman, CEO and president of Brinker International said the results marked a “great start” to the fiscal year.
“Our investments in guest and team member experiences are paying off, and I am confident we are rebuilding the business in a way that will deliver sustainable top and bottom-line growth over the long term,” Hochman added.
The company expects total revenue to be in the range of $4.27 billion to $4.35 billion for the full year.
Founded in 1975 in Dallas, Texas, Brinker owns, operates or franchises more than 1600 restaurants in the US and 29 other countries.