Business
Del Taco Restaurants, Inc. Reports Fiscal Second Quarter 2021 Financial Results
System-Wide Comparable Restaurant Sales Increased 17.8% Compared to the Prior-Year Fiscal Quarter Income from Operations Growth of 148.5% Compared to Last
About this update from Berto Acquisition Corp.
[{"type":"text","content":"\nSystem-Wide Comparable Restaurant Sales Increased 17.8% Compared to the Prior-Year Fiscal Quarter\n\nIncome from Operations Growth of 148.5% Compared to Last Year\n\nSigns New Franchise Development Agreement for 12 New Florida Panhandle Restaurants\n\nExpects System-wide New Unit Growth to Achieve 5% in 2023 Led by Franchising\n\n LAKE FOREST, Calif.--(BUSINESS WIRE)--\nDel Taco Restaurants, Inc. (“Del Taco” or the “Company”), (NASDAQ: TACO), the second largest Mexican-American quick service restaurant chain by units in the United States, today reported fiscal second quarter 2021 financial results for the 12-week period ended June 15, 2021 and provided a business update.\n\nManagement Commentary\n\nJohn D. Cappasola, Jr., President and Chief Executive Officer of Del Taco, commented, “We generated outstanding revenue and profitability growth during the second quarter as we leveraged our top-line momentum across all key cost inputs. Top-line growth was characterized by system-wide comparable restaurant sales growth versus 2020 in the high teens, representing mid-single digit growth versus 2019. Importantly, compared to 2019 all day parts were positive during the second quarter except for breakfast, which has since improved to flat in the third quarter, while late snack and graveyard were our top performing dayparts compared to 2019, aided by a strong delivery mix that again reached approximately 7% of sales.”\n\nCappasola continued, “Looking ahead, our focus on driving sales includes plans to introduce innovative new products and platforms along with the launch of our new Del App and loyalty program this September. In fact, just today we introduced a new breakfast platform centered on Double Cheese Breakfast Tacos that is aimed at capitalizing on the continued normalization of morning routines and strong breakfast seasonality as we head into Fall. Later this summer, we will follow this up with yet another exciting platform launch, Stuffed Quesadilla Tacos, which puts us in a great position to generate guest excitement and momentum in the back half of 2021 and entering 2022.”\n\nCappasola concluded, “We are very encouraged that Del Taco’s franchise led system growth is gaining momentum as we now expect to open thirteen system-wide restaurants in 2021. We recently announced an agreement with a seasoned multi-concept QSR franchise ...