Brinker International: Reports Q2 Of Fiscal 2023 Results

Dallas / TX . (bi) Brinker International Inc., a recognized leader in casual dining, announced results for the second quarter ended December 28, 2022. Second quarter fiscal 2023 financial Highlights:

«Our results for the second quarter of fiscal 2023 were driven by a solid increase in company sales and improved restaurant operating margin. Our brand’s ability to implement incremental menu pricing and drive positive item mix led to a 9.7 percent increase in comparable restaurant sales for the second quarter of fiscal 2023. Specifically, Maggiano’s experienced strong holiday sales in all channels, including dining room, banquet and to go, exceeding pre-pandemic levels. Restaurant operating margin improved over the first quarter of fiscal 2023 due primarily to the increase in sales and moderating commodity inflation. Commodity inflation for the quarter increased meaningfully year over year and will continue to be a headwind, although at a diminishing rate as we move through the rest of the fiscal year. We increased facility expenditures at our restaurants in the second quarter in alignment with our commitment to improving our guest experience and ensuring our restaurants are in good repair and well maintained.

«Our second quarter performance represents a positive step forward for our new approach,” said Kevin Hochman, Chief Executive Officer and President of Brinker International. “Our focus on the Team Member and Guest experience, coupled with a more strategic pricing strategy, has allowed us to grow our top line and sequentially improve our margins. We will build on this solid foundation as we continue to implement our strategic initiatives and move the business forward.»

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