El Pollo Loco Holdings, Inc. reports developments from its fast-casual restaurant business, which operates and franchises El Pollo Loco restaurants centered on citrus-marinated fire-grilled chicken and Mexican-inspired menu items such as burritos, tostadas, bowls, salads and bone-in chicken meals. News commonly covers quarterly financial results, system-wide and company-operated restaurant sales trends, restaurant contribution, operating costs and debt levels.
Company updates also include menu innovation, product tests, loyalty program activity through Loco Rewards, marketing partnerships and brand initiatives tied to its restaurant base. These releases connect operating performance with customer traffic, pricing, menu mix and franchise activity in the limited-service restaurant market.
El Pollo Loco appointed Deborah Gonzalez and Nancy Faginas-Cody to its Board of Directors, effective December 9, 2021. Gonzalez, with over 30 years in brand marketing, and Faginas-Cody, a retired IT executive from Walt Disney Company, bring valuable expertise to the board. This expansion increased the board size from nine to eleven members. The addition aims to enhance brand marketing and technology strategies, supporting the company's growth in the competitive fire-grilled chicken restaurant market.
El Pollo Loco has launched its first online merchandise store, Loco Gifts and Gear, celebrating its L.A. Mex heritage through various exclusive products. Members of Loco Rewards receive early access, while the general public can shop starting tonight. The store features collaborations with local Latino artists, including David Flores, who designed skateboards and apparel, Rick Massie, who created a custom surfboard, and Manny Silva, known for his lowrider bikes. Limited quantities are expected to sell out quickly, driving consumer excitement.
El Pollo Loco Holdings reported third-quarter financial results for the period ending September 29, 2021, revealing total revenue of $115.7 million, up from $111.0 million year-over-year. System-wide comparable restaurant sales grew by 9.3%, attributed to a 5.9% increase in transactions. Net income reached $10.2 million at $0.28 per diluted share, consistent with the previous year. However, restaurant contribution margins decreased to 20.4% due to rising labor and operating costs. The company is facing supply chain challenges and has revised its future openings guidance amid increasing commodity costs.
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El Pollo Loco Holdings, Inc. (NASDAQ: LOCO) announced a conference call scheduled for November 4, 2021, at 4:30 PM ET to discuss third quarter 2021 financial results. The call will be led by Larry Roberts, Interim Chief Executive Officer, with a press release detailing the results issued post-market closure. The call can be accessed at 201-493-6780, with a replay available until November 18, 2021. The event will also be webcast live on the company’s investor relations site.
El Pollo Loco (Nasdaq: LOCO) announced the resignation of CEO Bernard Acoca, effective October 15, 2021, to pursue other opportunities. Laurance 'Larry' Roberts, currently CFO, has been appointed as Interim CEO. Under Acoca's leadership, the company improved sales and customer connections, navigating pandemic challenges effectively. Roberts, with over 25 years in the restaurant industry, aims to execute the company's Acceleration Agenda focusing on growth. Acoca will provide consulting to ensure a smooth transition.
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El Pollo Loco (Nasdaq: LOCO) launches its 'For Your Consideration' campaign during National Hispanic Heritage Month to spotlight 11 Hispanic chefs as nominees for the 2022 James Beard Awards. This initiative addresses the underrepresentation of Hispanic talent in the culinary industry, where they make up significant portions of the workforce yet receive limited recognition. El Pollo Loco emphasizes its commitment to promoting diversity and inclusion through various activations, including ads and digital promotions. The campaign aims to encourage greater appreciation for Mexican culinary contributions.
El Pollo Loco, the leading fire-grilled chicken restaurant chain, has launched two new menu items: Double Chicken Nachos and Double Crunch Taquito Nachos, available for a limited time. These offerings come stacked with fresh toppings to prevent 'naked' chips, addressing customer preferences. Alongside the menu launch, El Pollo Loco is promoting its 'Say No to Naked Chips' campaign and offering new Loco Rewards members a free 8-piece Leg & Thigh Chicken Dinner with the purchase of a Familia Meal. The new items and campaign reinforce the brand's commitment to quality and customer satisfaction.