Irvine-Based Eateries Post Mixed 2nd-Quarter Results
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Three Irvine-based restaurant chains owned by South Carolina-based Advantica Restaurant Group Inc. reported mixed second-quarter results.
El Pollo Loco, which owns 108 Mexican-style charbroiled chicken eateries and franchises 161 more, saw sales in restaurants open for at least a year rise by 8.3% in company-owned stores and by 6% at franchised operations. Total revenue rose 12.4% to $36.2 million.
El Pollo Loco has been put up for sale by Advantica, and final bids are expected to be received by the end of the month, officials said.
Coco’s, which owns 150 of the bakery-oriented coffee shops and licenses 335, saw same-store sales drop 4.8%. Revenue fell 13% to $57.2 million, while operating income dropped 27.5% to $7.4 million.
Carrow’s, which owns 120 dinner houses and franchises 27 others, suffered a 4.3% decline in same-store sales and saw revenue drop 12% to $42 million. Operating income declined more than 20% to $5.1 million.
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