Zoe's Kitchen (ZOES) Stock Falling Over 7% on Sluggish Same-Store Sales
Zoe's Kitchen Inc (ZOES) just released their third quarter earnings results, beating earnings estimates by $0.02 and beating revenue expectations with an increase of 29.4% from Q3 2014.
Currently, Zoe's Kitchen has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company's latest earnings report. Here are 5 key statistics from this just announced report below.
1. Beat earnings estimates. The company posted $0.05 , surpassing our Zacks Consensus Estimate of $0.03 (this number excludes $0.17 from non-recurring items).
2. Beat revenue estimates. The company saw revenue figures of $56.4 million , an increase of 29.4%, just slightly beating our estimate of $56 million.
3. Posted a comparable restaurant sales increase of 4.5%, which is lower than in previous quarters.
4. President and CEO Kevin Miles said that "We opened 10 new Company-owned restaurants during the third quarter, bringing our year to date openings to 29 new Company-owned restaurants. Since the end of the quarter, we have opened an additional four Company-owned restaurants to bring the total for the year to 33, matching the high end of our previous guidance."
5. ZOES was down $2.38, or 7.47%, to $29.50 as of 4:48 PM ET in after hours trading shortly after its earnings report was released.
Here's a graph that looks at Zoe's Kitchen quarterly revenue:
Zoe's Kitchenis a fast casual restaurant concept serving Mediterranean-style food. Zoe's Kitchen operates a range of restaurant formats, including in-line, end-cap, franchise, and free-standing restaurants. Zoe's Kitchen was founded in 1995 and is headquartered in Plano, Texas.
Check back later for our full analysis on Zoe's Kitchen's third quarter earnings report!