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Zoe's Kitchen (ZOES) Tops Q1 EPS by 5c; Comps Up 7.7%

June 4, 2015 4:05 PM

Zoe's Kitchen (NYSE: ZOES) reported Q1 EPS of $0.04, $0.05 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $63 million versus the consensus estimate of $61.58 million. Comparable restaurant sales increased 7.7%

"Our first quarter results reflect sustained operating momentum driven by the appeal of our lifestyle brand and commitment to operational excellence," stated Kevin Miles, President and Chief Executive Officer of Zoës Kitchen. "Our 7.7% growth in comparable restaurant sales marked the 21st consecutive quarter of positive growth, and combined with contributions from new units to drive revenue growth of 36% and Adjusted EBITDA growth of over 76%."

Miles continued, "Zoës is a differentiated concept offering wholesome, freshly prepared Mediterranean dishes with Southern hospitality, appealing to guests across the country and inspiring them to Live Mediterranean. We continue to bring this Mediterranean lifestyle to more guests, opening 12 new restaurants in the first quarter, and we remain on track to open 31 to 33 new restaurants in 2015. We are confident that we can successfully operate over 1,600 units in the US long term."

Zoe's Kitchen sees FY2015 revenue of $218-233 million, versus the consensus of $220.1 million.

For earnings history and earnings-related data on Zoe's Kitchen (ZOES) click here.

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