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Costa Mesa's El Pollo Loco reports tough third quarter
Company President and CEO calls it 'most challenging to date.'
By Kristen SchottPublished: November 16, 2009 09:43 AM
Costa Mesa-based El Pollo Loco is reporting its third quarter financial numbers, and the results demonstrate a tough period of time for the firm, mainly due to the downturn in the economy.
In fact, it was the "most challenging quarter to date," according to company President and CEO Stephen Carley.
"The depressed economy and disproportionately high level of unemployment in our core markets, and in particular among Hispanics, which are a key demographic for our brand, contributed to lower traffic frequency and average check," he says.
For the quarter that ended Sept. 30, El Pollo Loco reported operating revenue – which includes sales at company-operated stores and franchise revenue – of $68.5 million, down 8.5 percent compared to the same time last year.
Franchise revenue fell 9 percent to $4.8 million. The number is down from $5.2 million in the third quarter of 2008.
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In fact, it was the "most challenging quarter to date," according to company President and CEO Stephen Carley. "The depressed economy and disproportionately high level of unemployment in our core markets, and in particular among Hispanics, which are a key demographic for our brand, contributed to lower traffic frequency and average check," he says. For the quarter that ended Sept. 30, El Pollo Loco reported operating revenue – which includes sales at company-operated stores and franchise revenue – of $68.5 million, down 8.5 percent compared to the same time last year. Franchise revenue fell 9 percent to $4.8 million. The number is down from $5.2 million in the third quarter of 2008. NEXT PAGE >> Related headlines OCTA shuttles in bus service reductions Real estate market affected by short sales 'OC METRO Minute,' Nov. 13: 99.9 percent chance home prices will drop |
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