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Traders chicken out on El Pollo Loco after earnings miss

Christine Wang
Updated

Don't count your chickens before they hatch.

Shares of El Pollo Loco (NASDAQ: LOCO) plunged more than 13 percent in early trading Friday on the back of foul (fowl?) earnings.

The grilled-chicken chain posted earnings of 17 cents a share on $94.4 million in revenue. Analysts had expected earnings of 18 cents per share on revenues of $96.6 million, according to a consensus estimate from FactSet.

Although overall same-restaurant sales grew 0.7 percent, company-operated locations saw sales drop 0.6 percent during the quarter, due to a 0.8 percent decrease in traffic. Franchise restaurants, however, saw comparable sales grow 1.8 percent.

El Pollo Loco shares are down 55 percent in the last year.


Source: FactSet



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