X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Dallas-based restaurateur, Brinker International Inc., has ended its fourth quarter for fiscal year 2000 with 7.7% more revenues than last year, reflecting a sales surge by its core concept eateries.

A 13-week accounting for the fiscal year ending June 28 puts revenues at $567.7 million in comparison to $535.3 million for a 14-week period last year. A company report attributes the record-breaking fiscal year to comp store sales for Brinker’s core concepts. Chili’s revenues were up 5.9%, Macaroni Grill jumped 5.3% and On The Border, 1%.

Net income of $36.7 million for the fourth quarter of fiscal 2000 has resulted in diluted earnings per share of 54 cents, a 35% increase over the 40 cents diluted earnings per share for fourth quarter 1999. Revenues for the 52-week period rose 15.5% to about $2.2 billion from about $1.9 billion reported in the last fiscal year. Sales increases by core concept stores primarily account for the rosy financial picture. Chili’s sales are up 6.7%; Macaroni Grill, 5%; and On the Border, 3.2%.

Despite a one-week accounting realignment, the year’s net income is up 38.2% or $117.8 million from $85.2 million, while net income per share rose 40%, closing the year at $1.75 in comparison to $1.25 for the 1999 close-out period.

“Focused and driven, our operating teams delivered yet another quarter of strong results, closing out a terrific year,” says Ron McDougall, Brinker’s vice chairman and CEO. “The long-term trends for our industry remain positive.”

The company has repurchased about 530,000 shares of its common stock in the fourth quarter, bringing the total to approximately 5.4 million shares, or $125.9 million, under its $210 million share repurchase program.

The restaurateur owns, operates or franchises more than 1,038 restaurants nationwide under the names Chili’s Grill & Bar, Romano’s Macaroni Grill, On The Border Mexican Grill & Cantina, Cozymel’s Coastal Mexican Grill, Maggiano’s Little Italy, Corner Bakery Cafe, EatZi’s Market and Bakery, Wildfire and Big Bowl.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.