Record-Breaking Same-Store Sales Increase
Chili's reported same-restaurant sales up 31% year-over-year, significantly outperforming the industry.
Operational Improvements and Simplification
Successful operational changes including a 40% reduction in cook times for steak and the removal of complex stations such as the It's Just Wings station have streamlined operations and improved efficiency.
Introduction and Success of Marketing Campaigns
The Triple Dipper social media campaign and the Better Than Fast Food TV campaign have successfully driven traffic and guest counts, with Triple Dipper now representing 14% of total sales.
Strong Financial Performance
Brinker reported total revenues of $1.358 billion with consolidated comp sales of positive 27.4%. Adjusted diluted EPS was $2.80, up from $0.99 last year.
Margin Expansion
Restaurant operating margin came in at 19.1%, a 600 basis points improvement year-over-year.
Debt Reduction
The company repaid approximately $164 million in debt, significantly reducing financial leverage to 2.3 times.
Kitchen Technology Upgrades
Decision to accelerate investments in TurboChefs to improve cooking speed and quality, making kitchens more efficient and comfortable for staff.