Jefferies Raises Price Target on Zoe's Kitchen (ZOES) to $35 Following 1Q Report
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Zoës Kitchen Announces First Quarter 2016 Results
May 31, 2016 4:05 PM EDTPLANO, Texas--(BUSINESS WIRE)-- Zoe's Kitchen, Inc. ("Zoës Kitchen" or the "Company") (NYSE: ZOES) today reported financial results for the sixteen weeks ended April 18, 2016.
Highlights for the sixteen weeks ended April 18, 2016, as compared to the sixteen weeks ended April 20, 2015:
Total revenue increased 27.6% to $80.4 million. Comparable restaurant sales increased 8.1%. 11 new Company-owned restaurants opened. Restaurant contribution increased 29.4% to $17.7 million, or 22.0% of restaurant sales. Adjusted EBITDA* increased 28.3% to $8.3 million. Net income... More