EAT ,,, Brinker International Raises 4Q Guidance
Wednesday May 11, 4:37 pm ET
Brinker International Raises 4Q Guidance After Posting April Same-Store Sales Growth
DALLAS (AP) -- Restaurant operator Brinker International Inc., which operates Macaroni Grill and Chili's, on Wednesday raised fourth-quarter earnings expectations after it reported same-store sales in April increased 3.7 percent.
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Brinker said it anticipates fourth-quarter earnings of 67 cents to 68 cents per share, excluding items. The restaurant operator said last month that it expected earnings in the range of 66 cents to 68 cents per share, and forecast revenue growth between 1 percent and 2 percent from a year earlier.
On average, analysts polled by Thomson Financial expect earnings of 67 cents per share on revenue of $1.05 billion.
The company said same-store sales at locations open at least one year improved about 1 percent from the calendar shift of Easter to March this year from April last year. The biggest sales gain came from its Chili's brand, which realized same-store growth of 4.8 percent. However, Macaroni Grill same-store sales in April fell 1.5 percent.
Brinker shares fell 35 cents to close at $35.34 on the New York Stock Exchange, and later rose 19 cents to $35.53 in after-hours trading.
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