Chuy's reports Q2 EPS 38c, consensus 37c
Reports Q2 revenue $106.3M, consensus $106.03M. On both a fiscal and calendar basis, comparable restaurant sales increased 1.0%. Three restaurants opened during Q2. The company said, "Our second quarter results included a double-digit increase in revenue and a return to positive comparable restaurant sales growth. We also continued our focus on a number of key initiatives during the quarter. Specifically, we are excited about the initiation of our alliance with Kelly Scott Madison, a media marketing agency, which we believe will help us market our unique combination of food quality, value and atmosphere to a wider audience. We continue to add tools to help us operate more efficiently and offset ongoing labor pressures. Lastly, we are currently testing online ordering, which will provide added convenience for our guests. We believe these initiatives can improve our business in the short run while also facilitating longer-term success. We also added three new restaurants during the second quarter and subsequently have opened an additional restaurant during the third quarter. We are pleased with the performance of our six new openings to date, and have narrowed our range of expected openings for 2018 to nine to ten."