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Article Excerpt
COSTA MESA, Calif. -- EPL Intermediate, Inc. ("El Pollo Loco" or the "Company"), parent company of El Pollo Loco, Inc., today reported results for its year ended December 31, 2008. For purposes of simplicity, the Company has described the fiscal years ended December 31, 2008 and December 26, 2007 as December 31, 2008 and December 31, 2007, respectively.
El Pollo Loco reported operating revenue for the year ended December 31, 2008 of $298.9 million, which is an increase of $19.9 million, or 7.1%, over operating revenues for the year ended December 31, 2007 of $279.0 million. Operating revenue includes sales from company-owned stores and revenue earned from our franchise activities. The increase in company-operated restaurant revenue is attributed to several factors, including growth in the number of new company and franchise-operated restaurants; price increases of 2.0% and 1.2% in January and October, respectively, and 0.5% in smaller increases taken at different times in 2008; an extra week of sales in 2008 compared to 2007 due to our 53/52 week years; and a 0.2% increase in same-store sales. El Pollo Loco was able to achieve growth in company-operated restaurant revenue despite a transaction decrease of 1.9%, which reflected the higher unemployment and reduced discretionary spending caused by the current economic crisis.
Same-store sales for the system (includes both company and franchise locations) and company-operated stores both increased a modest...
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