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Chili's fiscal 4Q19: Key Points

  • Fiscal 4Q19 system comps increased +1.3% and the +1.5% company store comp included +3.9% pricing, -1.9% mix & -0.5% traffic. Results reflected a y/y decrease in promotional direct loyalty marketing (-60 bps) to go with a +3.3% menu price increase which was unusually high because of timing issues during the quarter. Annual pricing should continue to run +1.5% to 2%.
  • While brand management has been focused on keeping operations simple by foregoing any LTOs or new initiatives, going forward plans will seek to layer in innovation & marketing support for the 3 for $10 platform in order to better target value-oriented guests who tend to frequent casual more so than higher-end customers.

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