Business
Del Taco Restaurants, Inc. Reports Preliminary Unaudited Fiscal Second Quarter 2020 Sales Results
Provides Liquidity Update LAKE FOREST, Calif.--(BUSINESS WIRE)-- Del Taco Restaurants, Inc. (“Del Taco” or the “Company”), (NASDAQ: TACO), the second largest
About this update from Berto Acquisition Corp.
[{"type":"text","content":"\nProvides Liquidity Update\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 preliminary unaudited sales results for the 12-week period ending June 16, 2020 and provided a liquidity update.\n\n\nJohn D. Cappasola, Jr., President and Chief Executive Officer of Del Taco, commented, “We are pleased that our system demonstrated sequential improvement in comparable restaurant sales trends throughout the second fiscal quarter, which we will look to build upon in the weeks and months ahead. This sales momentum helped enhance our liquidity as we recently reduced our outstanding revolving credit facility borrowing to $145 million, consistent with the balance at the end of fiscal year 2019. Notably, our franchised restaurants across a broad 14-state footprint achieved positive comparable restaurant sales growth during the last five weeks of the quarter, representing a more than 30% swing compared to the first three weeks of the fiscal quarter.”\n\n\nCappasola concluded, “We have leveraged our QSR+ strengths during the pandemic through our no contact or limited contact channels, lack of reliance upon dining rooms, and of course, Del Taco’s strong heritage of great value and variety. Our team members and franchise partners have done an incredible job rising to unique challenges and, looking ahead, we believe Del Taco is well positioned to accelerate performance.”\n\n\nFiscal Second Quarter 2020 Comparable Restaurant Sales\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n \n \n\nTwelve weeks\n\n\n\n \n\n\n\n \n\n\n\nFour weeks\n\n\n\n \n\n\n\n \n\n\n\nFour weeks\n\n\n\n \n\n\n\n \n\n\n\nFour weeks\n\n\n\n\n\n\n\n\nended\n\n\n\n \n\n\n\n \n\n\n\nended\n\n\n\n \n\n\n\n \n\n\n\nended\n\n\n\n \n\n\n\n \n\n\n\nended\n\n\n\n\n\n \n \n\nJune 16, 2020\n\n\n\n \n\n\n\n \n\n\n\nApril 21, 2020\n\n\n\n \n\n\n\n \n\n\n\nMay 19, 2020\n\n\n\n \n\n\n\n \n\n\n\nJune 16, 2020\n\n\n\n\n\nCompany-operated\n\n\n \n \n\n-12.6%\n\n\n \n \n\n-23.9%\n\n\n \n \n\n-10.4%\n\n\n \n \n\n-3.7%\n\n\n\n\n\nFranchised\n\n\n \n \n\n-7.2%\n\n\n \n \n\n-22.7%\n\n\n \n \n\n-2.9%\n\n\n \n \n\n3.5%\n\n\n\n\n\nSystem-wide\n\n\n \n \n\n-10.1%\n\n\n \n \n\n-23.4%\n\n\n \n \n\n-6.9%\n\n\n \n \n\n-0.3%\n\n\n\n\n\n\n...