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Maggiano’s same-store sales rose 21 percent last quarter. / Photography: Shutterstock
Maggiano, generally known as a destination for special events, is becoming an option for those who choose to stay there.
Compared to pre-pandemic levels, the 53-unit Italian chain’s off-market sales rose 81 percent last quarter, contributing to a 21 percent increase in same-store sales at the end of Dec. 28.
The to-go business has been most influential, executives say, attracting an entirely different audience than dine-in.
Kevin Hochman, CEO of Brinker International, Maggiano’s parent, tells us off-premises sales.
That means sales are up significantly, which is reflected in Maggiano’s strong comps.
Not only that, but off-campus customers tend to be more frequent patrons than on-campus customers, Hockman said.
Even when the epidemic subsided, it went into the industry and continued to sell, providing a new source of growth for many restaurants. To the surprise of many onlookers, the bidding trade was even discontinued.
“I think the interest states that match that consumer are a little different,” said Brinker CFO Joe Taylor. “I think the demographics that it uses probably skew to the higher equity side of the economy. So right now, the resilience and the willingness to use the delivery channel is still there.”
Delivery and pickup accounted for about 27 percent of Maggiano’s sales in the quarter.
It was the highlight of an overall wonderful holiday season for the chain. Traffic grew by 8.4% and was positive across all channels, including dining and invitations. The mix was also suitable. Meanwhile, the price was 7.7% higher than a year ago.
All of this makes Brinker executives feel good about the product.
“The strong recovery of the core business and the addition of the fast-growing pre-premium channel, combined with an improved business model, make us very excited about Maggiano’s future,” Hockman said.
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