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BRINKER INTERNATIONAL, INC. TO HOST FIRST QUARTER FISCAL 2019 EARNINGS CALL

DALLAS, Oct. 23, 2018 /PRNewswire/ — Brinker International, Inc. (NYSE: EAT) has scheduled its earnings conference call at 10:00 a.m. Eastern Time on Tuesday, Oct. 30, 2018 to review first quarter fiscal 2019 earnings, which will be announced before the market opens on Oct. 30, 2018.

Brinker International, Inc. (PRNewsfoto/Brinker International, Inc.)

The live audio webcast can be accessed through the Investor Relations section of Brinker’s Web site at http://investors.brinker.com/phoenix.zhtml?c=119205&p=irol-eventDetails&EventId=5275870. A replay of the conference call will also be available on the company’s web site for 30 days after the event and via Thomson StreetEvents for their service subscribers.

Brinker International owns, operates, franchises, or is involved in the ownership of restaurants under the names Chili’s® Grill & Bar and Maggiano’s Little Italy®.

SOURCE Brinker International, Inc.

For further information: Chili’s® Grill & Bar | 800.775.7290

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HI, WELCOME TO CHILI’S

DALLAS, Oct. 11, 2018 /PRNewswire/ — Don’t be a basic witch this year for Halloween because honestly you deserve better and no one wants to see you in a taco foam costume for the third year in a row. Transform into the “Hi, welcome to Chili’s” vine with our first-ever Halloween costume. Go to welcometochilis.com to get your hands on this Halloween treat while supplies last.

Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8246359-chilis-halloween-costume-of-2018/

This one-of-a-kind Chili’s® Grill & Bar costume is sourced from tears of pure laughter, made with the finest cotton-polyester blend known to man and designed with a custom pattern you won’t find anywhere else. This Halloween, slip on your boxers and hold up that cardboard cell and get ready to welcome people to Chili’s all night long!

For just $25, your costume will include:

  • One set of Chili’s boxers
  • One cardboard cellphone perfect for mirror selfies
  • A chance to become an instant viral internet sensation

We can’t wait to see the viral sensation you’ll become thanks to a bathroom mirror near you. Feel free to tweet us your photos @chilis or tag us on Instagram.

Now, go order the best costume of the year here before it sells out!

About Chili’s Grill & Bar
Chili’s® Grill & Bar is the flagship brand of Dallas-based Brinker International, Inc. (NYSE: EAT), a recognized leader in casual dining. Known for their signature menu items – burgers, ribs and fajitas– Chili’s offers fresh, bold and unexpected flavors. Each ChiliHead at more than 1,600 locations in 31 countries and two territories takes great pride in Chili’s purpose of connecting with and serving Guests and giving back to the communities in which they are located. In addition to Chili’s, Brinker owns and operates Maggiano’s Little Italy®. For more brand-related information, visit chilis.com.

This Halloween, slip on your boxers and hold up that cardboard cell and get ready to welcome people to Chili’s all night long!

 

This Halloween, slip on your boxers and hold up that cardboard cell and get ready to welcome people to Chili’s all night long!

 

This Halloween, slip on your boxers and hold up that cardboard cell and get ready to welcome people to Chili’s all night long!

 

This Halloween, slip on your boxers and hold up that cardboard cell and get ready to welcome people to Chili’s all night long!

 

This Halloween, slip on your boxers and hold up that cardboard cell and get ready to welcome people to Chili’s all night long!

 

SOURCE Chili’s Grill & Bar

For further information: Chili’s® Grill & Bar | 800.775.7290

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CHILI’S PARADISE PIE IS BACK, BABY!

The fan-favorite dessert will return to select Chili’s menus nationwide on Oct. 1 to benefit St. Jude year-round 

DALLAS, Oct. 1, 2018 /PRNewswire/ — If you’ve been tracking our menu updates as any good Chili’s-loving Guest should, you know that the Paradise Pie took a break from our menus a few years ago. That news made many of our loyal Guests passionately clap back. So this is for all of you who were upset with us. Today, we’re announcing the return of our beloved Paradise Pie to select Chili’s® Grill & Bar menus nationwide.

Chili's Paradise Pie is Back, Benefiting St. Jude

Not only is the Paradise Pie back, but it’s also giving back. Starting today, every purchase of this mouthwatering dessert will benefit both your taste buds and St. Jude Children’s Research Hospital® because $.50 from each Paradise Pie purchase will be donated to St. Jude.

To understand why this is such a big deal, here’s a look at just how much our Guests missed the Paradise Pie during its sabbatical:

They cried…

“I used to work at Chili’s during college and I would eat that dessert all of the time. Now I save it for special occasions, like my birthday and I almost started to cry when I saw it was gone.”

Had health scares…

“Ohmigosh. I went to Chili’s today for the Paradise Pie and almost had heart failure when they said it was taken off the menu. Why?”

Pleaded…

“Bring back the paradise pie! I was devastated when I heard it was gone. It is my favorite. It is my birthday dessert. Please bring it back.”

And downright begged…

“PLEASE BRING THE PARADISE PIE BACK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! I went to Chili’s every other day of the week just for the pie! I drove 100 miles there and back! OMG.”

So, if those testimonials don’t tell you the kind of treat you’re in for, I’m not sure what will.

If you missed the first appearance of the Paradise Pie on the menu a few years ago, here’s the deal. The Paradise Pie is a dessert packed with chocolate chips, walnuts and coconut that sits under a heavenly bed of vanilla ice cream, hot fudge and caramel. What more could you ask for? It’s basically a mountain of sweet treats bundled into one ooey gooey dessert. Eat it for yourself or share it with a friend, or two; we’re not here to judge because if we’re being honest with ourselves (and you) we may or may not have just devoured one too.

So, ultimately, we had no choice but to bring back the Paradise Pie.

And we’re excited to benefit St. Jude year-round with the help of an iconic menu item. Since 2002, we’ve proudly supported the lifesaving work of St. Jude and are dedicated to its mission of Finding cures. Saving children®. To date, we have raised more than $68 million with the help of our gracious Guests and Team Members to ensure that no family ever receives a bill from St. Jude for treatment, travel, housing or food – because all a family should worry about is helping their child live. And now you can easily help give back too by simply ordering the Paradise Pie. Really. It’s that simple. Find a Chili’s near you here.

If you’re curious to learn more about our longstanding partnership with St. Jude, read along here.

About Chili’s Grill & Bar
Chili’s® Grill & Bar is the flagship brand of Dallas-based Brinker International, Inc. (NYSE: EAT), a recognized leader in casual dining. Known for their signature menu items – burgers, ribs and fajitas– Chili’s offers fresh, bold and unexpected flavors. Each ChiliHead at more than 1,600 locations in 31 countries and two territories takes great pride in Chili’s purpose of connecting with and serving Guests and giving back to the communities in which they are located. In addition to Chili’s, Brinker owns and operates Maggiano’s Little Italy®. For more brand-related information, visit chilis.com.

About St. Jude Children’s Research Hospital
St. Jude Children’s Research Hospital is leading the way the world understands, treats and defeats childhood cancer and other life-threatening diseases. Its purpose is clear: Finding cures. Saving children.® It is the only National Cancer Institute-designated Comprehensive Cancer Center devoted solely to children. Treatments invented at St. Jude have helped push the overall childhood cancer survival rate from 20 percent to more than 80 percent since the hospital opened more than 50 years ago. St. Jude won’t stop until no child dies from cancer. St. Jude freely shares the discoveries it makes, and every child saved at St. Jude means doctors and scientists worldwide can use that knowledge to save thousands more children. Families never receive a bill from St. Jude for treatment, travel, housing or food – because all a family should worry about is helping their child live. Join the St. Jude mission by visiting stjude.org, liking St. Jude on Facebook, following St. Jude on Twitter and Instagram and subscribing to its YouTube channel.

SOURCE Chili’s(R) Grill & Bar

For further information: Chili’s® Grill & Bar | 800.775.7290

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CHILI’S LIFTS A MARGARITA IN HONOR OF KELLI VALADE

Wyman Roberts to step in as president of Chili’s, a role he’s previously held

DALLAS, Sept. 10, 2018 /PRNewswire/ — Today, Chili’s® Grill & Bar announced Kelli Valade is leaving her leadership role with the brand. Valade will join TDn2K™, parent company of People Report™, Black Box Intelligence™ and White Box Social Intelligence™, as president and CEO. In the interim, Wyman Roberts will once again step in as president of Chili’s.

Prior to Valade, Roberts served as president of Chili’s for more than seven years. His extensive experience running both the Maggiano’s and Chili’s brands coupled with the strong leadership team in place at Chili’s ensures the brand will continue to deliver notable results.

“I’m not sure I can find the words to express how extremely proud I am of Kelli and all that she’s accomplished,” said Wyman Roberts, president and CEO of Brinker International, Inc. “I’ve seen firsthand the impact she’s made at Brinker and Chili’s and now she will help impact the entire industry.”

In her 22 years with Brinker, Valade’s leadership helped shift the culture, initiate the Women Take the Lead program and impact positive results for Chili’s.

“This was an incredibly tough decision to leave a brand that I absolutely love and taught me the power of making people feel special,” said Kelli Valade. “I’ve been honored to be a part of the amazing momentum the ChiliHeads have created and can’t wait to see what’s next for the team.”

 

SOURCE Brinker International, Inc.

For further information: Chili’s® Grill & Bar | 800.775.7290

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CHILI’S GUESTS CAN MAKE A CHILD’S WORLD MORE COLORFUL DURING THE ANNUAL CREATE-A-PEPPER CAMPAIGN

#CreateAPepper at Chili’s restaurants nationwide from Sept. 10 through Oct. 3 to help St. Jude fight childhood cancer, other life-threatening diseases

DALLAS, Sept. 10, 2018 /PRNewswire/ — Today Chili’s® Grill & Bar announced the start of its annual Create-A-Pepper campaign benefiting the children of St. Jude Children’s Research Hospital®.

Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8246358-chilis-st-jude-2018-create-a-pepper/

At St. Jude Children’s Research Hospital®, Dallas is undergoing treatment for two inherited genetic disorders. “St. Jude allows me to focus on Dallas,” said his mom.

As Chili’s enters its 16th year of partnership with St. Jude, the brand has chosen to once again emphasize the power of a simple instrument – a crayon. While it may not seem like much in the moment, all it takes is for one Guest to color one pepper and donate $1 to make a difference in a child’s life.

Since 2002, Chili’s has proudly supported the lifesaving work of St. Jude and has remained dedicated to its mission: Finding cures. Saving children.® To date, Chili’s has raised more than $68 million with the help of its Guests and Team Members to ensure that no family ever receives a bill from St. Jude for treatment, travel, housing or food – because all a family should worry about is helping their child live.

“We all have the power to help fight childhood cancer and sometimes the most powerful tool isn’t the one you expect. At Chili’s, the power rests in the palms of our hands when we donate $1 and pick up a crayon to help color a child’s world,” said Doug Comings, chief operations officer at Chili’s. “Our ChiliHeads are passionate about living out our purpose to connect, serve and give. And our long-term commitment to St. Jude is just one way we do so.”

In 2016, Chili’s made its second multi-year commitment to St. Jude of raising $30 million in six years to enhance the work of The St. Jude School Program presented by Chili’s for patients. The St. Jude School Program presented by Chili’s gives patients a way to participate in a regular routine and keep up with schoolwork during their stay at the hospital – whether staying for a few months or a few years. For children who are put into an unfamiliar hospital environment, school provides a regular routine, feeling of control and sense of normalcy.

From Sept. 10 through Oct. 3, Guests at participating Chili’s restaurants nationwide can support the lifesaving work of St. Jude by:

  • Decorating a pepper coloring sheet in restaurant for a $1 donation and sharing on social media using the hashtag #CreateAPepper
  • Adding a donation to their check using the tabletop tablet located on every restaurant table or through online to-go orders
  • Purchasing a Create-A-Pepper T-shirt for $10 when dining in restaurant*
  • Visiting their local Chili’s to celebrate Donate Profits Day on Wednesday, Oct. 3. On this day, Chili’s will donate profits up to $350,000 to St. Jude

How the partnership between Chili’s and St. Jude began:

  • Sixteen years ago, a local grassroots fundraising effort by seven Memphis-area Chili’s restaurants was launched
  • By 2004, support of St. Jude and its mission grew into a national partnership with the Chili’s Create-A-Pepper campaign
  • In 2006, Chili’s committed to raising $50 million over a 10-year period — one of the largest single partner donations in the history of the hospital — to build the state-of-the-art Chili’s Care Center
  • In 2014, Chili’s Team Members and Guests proudly achieved this goal [two years early]
  • In 2016, Chili’s announced plans to raise $30 million over six years to further progress The St. Jude School Program presented by Chili’s and support the needs of the patients and families

Helping kids at St. Jude is just a pepper away. To donate and support Chili’s Create-A-Pepper campaign for St. Jude, visit www.chilis.com/st-jude.

*60 percent of the purchase price of each t-shirt will be donated to St. Jude.

About Chili’s Grill & Bar
Chili’s® Grill & Bar is the flagship brand of Dallas-based Brinker International, Inc. (NYSE: EAT), a recognized leader in casual dining. Known for their signature menu items – burgers, ribs and fajitas– Chili’s offers fresh, bold and unexpected flavors. Each ChiliHead at more than 1,600 locations in 31 countries and two territories takes great pride in Chili’s purpose of connecting with and serving Guests and giving back to the communities in which they are located. In addition to Chili’s, Brinker owns and operates Maggiano’s Little Italy®. For more brand-related information, visit chilis.com.

About St. Jude Children’s Research Hospital
St. Jude Children’s Research Hospital is leading the way the world understands, treats and defeats childhood cancer and other life-threatening diseases. Its purpose is clear: Finding cures. Saving children.® It is the only National Cancer Institute-designated Comprehensive Cancer Center devoted solely to children. Treatments invented at St. Jude have helped push the overall childhood cancer survival rate from 20 percent to more than 80 percent since the hospital opened more than 50 years ago. St. Jude won’t stop until no child dies from cancer. St. Jude freely shares the discoveries it makes, and every child saved at St. Jude means doctors and scientists worldwide can use that knowledge to save thousands more children. Families never receive a bill from St. Jude for treatment, travel, housing or food – because all a family should worry about is helping their child live. Join the St. Jude mission by visiting stjude.org, liking St. Jude on Facebook, following St. Jude on Twitter and Instagram and subscribing to its YouTube channel.

Briza was diagnosed with acute myeloid leukemia in 2015. When you come into Chili’s today for our Create-A-Pepper campaign, you can help support kids like Briza at St. Jude for only $1.

 

Warner was diagnosed with acute lymphoblastic leukemia when he was only two. When you come into Chili’s and Create-A-Pepper, you can help support kids like Warner at St. Jude for only $1.

 

Marley has been a patient at St. Jude Children’s Research Hospital® since 2015, when she was diagnosed with ependymoma. Create-A-Pepper, so you can help support kids like Marley at St. Jude.

 

In 2017, Kennan was diagnosed with acute lymphoblastic leukemia. When you come into Chili’s and Create-A-Pepper, you can help support kids like Kennan at St. Jude for only $1.

 

Chili’s Guests can make a child’s world more colorful during the annual Create-A-Pepper campaign.

 

SOURCE Chili’s Grill & Bar

For further information: Chili’s® Grill & Bar | [email protected]| 800.775.7290

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DOUBLE THE PORTION, NOT THE PRICE WITH MAGGIANO’S NEW CARRYOUT MENU

Guests can order more of what they love with Maggiano’s new carryout menu
DALLASAug. 21, 2018 /PRNewswire/ — Maggiano’s Little Italy® Guests can now double the portion on any carryout order for appetizers, salads, pastas, desserts and more without doubling the price! Known for its made-from-scratch, classic Italian-American dishes served family style, a visit to Maggiano’s is reminiscent of a Sunday night visit to grandmother’s (nonna’s) house where there was plenty of food to go around and enough leftovers for everyone to take some home too. Starting today, that same tradition is now part of the carryout experience with the new menu option to Double the Portion, Not the Price.

Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8246357-maggianos-carryout-menu-double-the-portion/

Double your dish without doubling the price with Maggiano’s new carryout menu option.

“We asked our Guests how we could improve our carryout menu knowing an increasing number of them enjoy their favorite meals outside restaurants today,” said Larry Konecny, vice president and chief concept officer for Maggiano’s. “Our Guests told us they value the abundance Maggiano’s offers – whether that is dining in restaurant, at home or creating a special occasion of their own outside the restaurant.”

“We decided to launch our new carryout menu to all Maggiano’s restaurants nationwide so our Guests can enjoy more Maggiano’s at a greater value,” added Konecny.

To celebrate this new menu launch, Guests who take advantage of doubling the portion on any carryout menu item will receive a complimentary slice of New York Style Cheesecake – made fresh daily – today through Aug. 23.

Whether Guests need to order more to share with friends and family or want to save extra for tomorrow’s lunch, they will find more to love about Maggiano’s new carryout menu. Guests can order anything on the carryout menu at regular price and double the same menu item for only:

  • $3 for sides
  • $5 for pastas
  • $5 for desserts
  • $6 for starters
  • $6 for entrée salads
  • $8 for chicken entrées
  • $9 for specialty pastas
  • $15 for seafood entrées

To learn more about the new carryout menu visit www.maggianos.com/double-the-portion and to enjoy more Maggiano’s without doubling the price, place a carryout order online at www.orders.maggianos.com.

About Maggiano’s Little Italy 
Maggiano’s Little Italy® specializes in Italian-American cuisine served in a warm and friendly atmosphere. Maggiano’s menu features both classic and contemporary recipes – authentic pastas, signature salads, prime steaks, fresh seafood, regular chef specials and specialty desserts. Maggiano’s 52 restaurants nationwide offer lunch, dinner and brunch, delivery, carryout service and banquet spaces for special occasions. Maggiano’s is owned and operated by Brinker International, Inc. (NYSE: EAT), one of the world’s leading casual dining restaurant companies, serving more than one million guests daily. Brinker owns or franchises more than 1,600 restaurants in 30 countries and two territories. In addition to Maggiano’s, Brinker owns and operates Chili’s® Grill & Bar.

Follow news about Maggiano’s on Facebook (www.facebook.com/maggianos), Twitter (http://twitter.com/maggianos), Instagram (https://instagram.com/maggianoslittleitaly/), YouTube (www.youtube.com/maggianoslittleitaly) and Pinterest (http://pinterest.com/maggianos). For more information, please visit http://www.maggianos.com.

Calamari Fritte. Double the portion on any carryout order for appetizers without doubling the price!

 

Crispy Zucchini Fritte. Double the portion on any carryout order for appetizers without doubling the price!

 

Chicken Francese. Double the portion on any carryout order for appetizers without doubling the price!

 

Tiramisu. Double the portion on any order for chicken entrees without doubling the price!

 

Chocolate Zuccotto Cake. Double the portion on any order for chicken entrees without doubling the price!

 

SOURCE Maggiano’s Little Italy(R)

For further information: Chili’s® Grill & Bar | 800.775.7290

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BRINKER INTERNATIONAL REPORTS FOURTH QUARTER AND FISCAL YEAR 2018 RESULTS

DALLAS, Aug. 14, 2018 /PRNewswire/ — Brinker International, Inc. (NYSE: EAT) today announced results for the fiscal fourth quarter and year ended June 27, 2018.

Brinker International, Inc. (PRNewsfoto/Brinker International, Inc.)

Highlights include the following:

  • On a GAAP basis, earnings per diluted share in the fourth quarter of fiscal 2018 decreased 1.0% to $1.01 compared to $1.02 for the fourth quarter of fiscal 2017. On a GAAP basis, earnings per diluted share in fiscal 2018 decreased 7.5% to $2.72 compared to $2.94 for fiscal 2017 Brinker International, Inc.
  • Earnings per diluted share, excluding special items, in the fourth quarter of fiscal 2018 increased 9.2% to $1.19 compared to $1.09 for the fourth quarter of fiscal 2017. Earnings per diluted share, excluding special items, in fiscal 2018 increased 9.4% to $3.50 compared to $3.20 for fiscal 2017 (see non-GAAP reconciliation below)
  • Brinker International’s total revenues in the fourth quarter of fiscal 2018 increased 0.8% to $817.1 million compared to the fourth quarter of fiscal 2017, and Company sales in the fourth quarter of fiscal 2018 increased 0.7% to $791.4 millioncompared to the fourth quarter of fiscal 2017
  • Chili’s company-owned comparable restaurant sales increased 0.6% in the fourth quarter of fiscal 2018 compared to the fourth quarter of fiscal 2017. Chili’s U.S. franchise comparable restaurant sales decreased 0.5% in the fourth quarter of fiscal 2018 compared to the fourth quarter of fiscal 2017
  • Maggiano’s comparable restaurant sales increased 0.3% in the fourth quarter of fiscal 2018 compared to the fourth quarter of fiscal 2017
  • Chili’s international franchise comparable restaurant sales decreased 2.9% in the fourth quarter of fiscal 2018 compared to the fourth quarter of fiscal 2017
  • Operating income, as a percent of total revenues, was 8.6% for the fourth quarter of fiscal 2018 compared to 9.9% for the fourth quarter of fiscal 2017 representing a decrease of approximately 130 basis points
  • Restaurant operating margin, as a percent of company sales, was 15.9% for the fourth quarter of fiscal 2018 compared to 17.0% for the fourth quarter of fiscal 2017 (see non-GAAP reconciliation below)
  • For fiscal 2018, cash flows provided by operating activities were $284.5 million and capital expenditures totaled $101.3 million. Free cash flow was $183.2 million (see non-GAAP reconciliation below)
  • The Company’s Board of Directors approved a quarterly dividend of $0.38 per share on the common stock of the Company. The dividend will be payable September 27, 2018 to shareholders of record as of September 7, 2018

“Brinker delivered positive sales and traffic for the fourth quarter,” said Wyman Roberts, Chief Executive Officer and President. “We continue to gain momentum and improve overall business performance through effective execution of our traffic driving strategies to elevate food and service, increase convenience, and strengthen our value proposition.”

SALE LEASEBACK TRANSACTIONS

In the first quarter of fiscal 2019, we entered into three purchase agreements to sell and leaseback 143 restaurant properties located throughout the United States. Subsequently under these purchase agreements, we have completed sale leaseback transactions of 137 of these restaurants for aggregate consideration of $443.1 million. The net proceeds from these sale leaseback transactions were used to repay borrowings on our revolving credit facility. The initial term of the leases are for 15 years. At June 27, 2018 the approximate net book value of the 137 restaurant properties included in the August 2018 completed sale leaseback transactions were land of $100.9 million and building and leasehold improvements and fixtures of $61.3 million.

QUARTERLY OPERATING PERFORMANCE

CHILI’S company sales in the fourth quarter of fiscal 2018 increased 0.8% to $688.2 million from $682.9 million in the fourth quarter of fiscal 2017 primarily due to an increase in comparable restaurant sales and an increase in capacity in the United States. As compared to the fourth quarter of fiscal 2017, Chili’s restaurant operating margin1 declined. Restaurant labor, as a percent of company sales, increased compared to the fourth quarter of fiscal 2017 due to higher wage rates, incentive bonus and employee health insurance expenses, partially offset by sales leverage. Cost of sales, as a percent of company sales, increased compared to the fourth quarter of fiscal 2017 due to unfavorable menu item mix and promotional activities, partially offset by favorable commodity pricing. Restaurant expenses, as a percent of company sales, decreased compared to the fourth quarter of fiscal 2017 primarily due to lower loyalty program related expenses and lower technology-related operating lease expenses and sales leverage, partially offset by increased repairs and maintenance expenses and To Go supplies expense.

MAGGIANO’S company sales in the fourth quarter of fiscal 2018 increased 0.3% to $103.2 million from $102.9 million in the fourth quarter of fiscal 2017 primarily due to an increase in comparable restaurant sales. As compared to the fourth quarter of fiscal 2017, Maggiano’s restaurant operating margin1 improved. Cost of sales, as a percent of company sales, decreased compared to the fourth quarter of fiscal 2017 due to favorable menu item mix and increased menu pricing, partially offset by unfavorable commodity pricing. Restaurant labor, as a percent of company sales, increased compared to the fourth quarter of fiscal 2017 due to higher wage rates and incentive bonus. Restaurant expenses, as a percent of company sales, increased compared to the fourth quarter of fiscal 2017 primarily due to increased rent expense and repairs and maintenance expenses, partially offset by lower workers’ compensation insurance expenses.

1         

Restaurant operating margin is defined as Company sales less Cost of sales, Restaurant labor and Restaurant expenses and excludes Depreciation and amortization expenses (see non-GAAP reconciliation below).

FRANCHISE AND OTHER revenues in the fourth quarter of fiscal 2018 increased 3.6% to $25.7 million from $24.8 millionin the fourth quarter of fiscal 2017 primarily due to higher gift card-related revenues, partially offset by a change in the timing of retail food royalties and a decrease in franchise fees and development fees. Brinker franchisees generated approximately $336.4 million in sales2 for the fourth quarter of fiscal 2018.

2       

Royalty revenues are recognized based on the sales generated and reported to the Company by franchisees.

OTHER

Depreciation and amortization expense for the fourth quarter of fiscal 2018 decreased $1.2 million compared to the fourth quarter of fiscal 2017 primarily due to an increase in fully-depreciated assets and retirements from restaurant closures and restaurant remodels, partially offset by depreciation on asset replacements, new restaurant openings and an increase in technology-related capital lease depreciation.

General and administrative expense for the fourth quarter of fiscal 2018 increased $3.1 million compared to the fourth quarter of fiscal 2017 primarily due to higher performance-based compensation expenses, payroll expenses, and professional service fees.

INCOME TAXES

The Tax Cuts and Jobs Act of 2017 (the “Tax Act”) enacted during the second quarter of fiscal 2018 lowered the federal statutory tax rate. Brinker’s federal statutory tax rate for fiscal 2018 decreased to 28.1%, representing a blended tax rate for the current fiscal year based on the number of days in the fiscal year before and after the effective date of the Tax Act. For subsequent years, our federal statutory tax rate will be 21.0% under the Tax Act.

On a GAAP basis, the effective income tax rate decreased to 20.5% in the fourth quarter of fiscal 2018 from 25.2% in the fourth quarter of fiscal 2017. This decrease was driven primarily by the positive impact of the lower federal statutory tax rate. Excluding the impact of special items (see non-GAAP reconciliation below for details), the effective income tax rate decreased to 19.9% in the fourth quarter of fiscal 2018 compared to 27.8% in the fourth quarter of fiscal 2017 primarily due to the lower federal statutory tax rate.

FISCAL 2019 OUTLOOK

The Company estimates earnings per diluted share, excluding special items, in the range of $3.70 to $3.90. Estimated earnings per diluted share are based on the following expectations:

  • Effective fiscal 2019, we have adopted the new US GAAP revenue standard (Topic 606) using the cumulative effect transition method and therefore no prior periods will be restated. We expect the new revenue standard to primarily result in an increase to Franchise and other revenues and a corresponding increase to Restaurant expenses related to the reclassification of marketing fees received from franchisees. The impact of the new revenue standard has been included within the fiscal 2019 guidance provided
  • Revenues are expected to be up approximately 1.00% to 2.25%. This estimate includes the impact of adopting the new US GAAP revenue standard in fiscal 2019 (as mentioned above)
  • Comparable restaurant sales are expected to be up 0.75% to 1.75%
  • Restaurant operating margin is expected to be down approximately 160 to 180 basis points primarily due to the impact of adopting the new US GAAP revenue standard (as mentioned above) and rent expense associated with the sale leaseback transactions executed in August 2018
  • Depreciation expense is expected to be $5 million to $6 million lower reflecting the impact of the sale leaseback transactions, offset by capital expenditures. Capital expenditures are expected to be $140 million to $150 million
  • General and administrative expense is expected to be $8 million to $10 million higher primarily due to resetting incentive compensation to target
  • Excluding the impact of special items, the effective income tax rate is expected to be approximately 14% to 15%
  • Free cash flow is expected to be $165 million to $175 million
  • Diluted weighted average shares outstanding is expected to be 38 million to 40 million

The Company believes providing estimated fiscal 2019 earnings per diluted share, excluding special items, guidance provides investors the appropriate insight into the Company’s ongoing operating performance.

GUIDANCE POLICY

Brinker provides annual guidance as it relates to comparable restaurant sales, earnings per diluted share, excluding special items, certain non-GAAP measures and other key line items in the consolidated statements of comprehensive income and will only provide updates if there is a material change versus the original guidance. We are unable to reliably forecast special items such as restaurant impairments, restaurant closures, reorganization charges and legal settlements without unreasonable effort. As such, we do not present a reconciliation of forecasted non-GAAP measures to the corresponding GAAP measures. If special items are reported in the remainder of fiscal 2019, reconciliations to the appropriate GAAP measures will be provided.

Q4 and Fiscal Year (FY) Comparable Restaurant Sales1

Company-owned, reported brands and franchise; percentage

Q4 18

Q4 17

FY 18

FY 17

Brinker International

0.6

(1.8)

(1.0)

(2.1)

Chili’s Company-Owned

   Comparable Restaurant Sales

0.6

(2.2)

(1.1)

(2.3)

   Pricing Impact

(1.0)

2.9

1.3

1.8

   Mix-Shift2

0.8

1.4

1.2

1.7

   Traffic

0.8

(6.5)

(3.6)

(5.8)

Maggiano’s

   Comparable Restaurant Sales

0.3

0.5

0.1

(0.6)

   Pricing Impact

1.7

1.0

1.1

2.1

   Mix-Shift2

0.2

1.6

0.6

0.3

   Traffic

(1.6)

(2.1)

(1.6)

(3.0)

Chili’s Franchise3

(1.4)

(1.7)

(2.1)

(2.1)

U.S. Comparable Restaurant Sales

(0.5)

(0.2)

(1.8)

(1.1)

International Comparable Restaurant Sales

(2.9)

(4.2)

(2.7)

(3.7)

Chili’s Domestic4

0.4

(1.7)

(1.3)

(2.0)

System-wide5

0.0

(1.8)

(1.3)

(2.1)

1      

Comparable restaurant sales includes all restaurants that have been in operation for more than 18 months

2     

Mix-shift is calculated as the year-over-year percentage change in company sales resulting from the change in menu items ordered by guests

3     

Revenues generated by franchisees are not included in revenues on the Consolidated Statements of Comprehensive Income; however, we generate royalty revenue and advertising fees based on franchisee revenues, where applicable. We believe including franchise comparable restaurant sales provides investors information regarding brand performance that is relevant to current operations and may impact future restaurant development

4   

Chili’s Domestic comparable restaurant sales percentages are derived from sales generated by company-owned and franchise-operated Chili’s restaurants in the United States

5   

System-wide comparable restaurant sales are derived from sales generated by company-owned Chili’s and Maggiano’s restaurants in addition to the sales generated at franchise-operated Chili’s restaurants

NON-GAAP MEASURES

Brinker management uses certain non-GAAP measures in analyzing operating performance and believes that the presentation of these measures in this release provides investors with information that is beneficial to gaining an understanding of the Company’s financial results. Non-GAAP disclosures should not be viewed as a substitute for financial results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of these non-GAAP measures are included in the tables below.

Reconciliation of Net Income Excluding Special Items

Q4 18 and Q4 17; $ millions and $ per diluted share

Brinker believes excluding special items from its financial results provides investors with a clearer perspective of the Company’s ongoing operating performance and a more relevant comparison to prior period results.

Q4 18

EPS Q4 18

Q4 17

EPS Q4 17

Net income

$

43.7

$

1.01

$

50.6

$

1.02

Special items1

9.3

0.21

7.2

0.14

Income tax effect related to special items2

(2.9)

(0.06)

(2.6)

(0.05)

Special items, net of taxes

6.4

0.15

4.6

0.09

Adjustment for special tax items3

1.5

0.03

(1.1)

(0.02)

Net income excluding special items

$

51.6

$

1.19

$

54.1

$

1.09

Reconciliation of Net Income Excluding Special Items

FY 18 and FY 17; $ millions and $ per diluted share

FY 18

EPS FY 18

FY 17

EPS FY 17

Net income

$

125.9

$

2.72

$

150.8

$

2.94

Special items1

34.5

0.74

22.7

0.44

Income tax effect related to special items2

(10.4)

(0.22)

(8.4)

(0.16)

Special items, net of taxes

24.1

0.52

14.3

0.28

Adjustment for special tax items3

12.1

0.26

(1.1)

(0.02)

Net income excluding special items

$

162.1

$

3.50

$

164.0

$

3.20

1       

See footnote “2” to the Consolidated Statements of Comprehensive Income presented below for additional details on the composition of these other gains and charges.

2        

The income tax effect related to special items is based on the statutory tax rate in effect at the end of each period presented.

3        

Fiscal 2018 amounts primarily relate to the tax impact from the Tax Reform re-measurement of deferred taxes resulting from the tax rate decrease from 35.0% to 21.0% and the tax impact from IRS settlements and excess tax shortfalls associated with stock-based compensation. Fiscal 2017 amounts primarily relate to favorable resolution of liabilities established for uncertain tax positions.

Reconciliation of Restaurant Operating Margin

Q4 18 and Q4 17; $ millions

Restaurant operating margin is not a measurement determined in accordance with GAAP and should not be considered in isolation, or as an alternative to operating income as an indicator of financial performance. Restaurant operating margin is widely regarded in the restaurant industry as a useful metric by which to evaluate restaurant-level operating efficiency and performance of ongoing restaurant-level operations. This non-GAAP measure is not indicative of overall company performance and profitability in that this measure does not directly accrue benefit to the shareholders due to the nature of costs excluded. We define restaurant operating margin as Company sales less Company restaurant expenses, including Cost of sales, Restaurant labor and Restaurant expenses. Restaurant expenses include advertising expense. We believe this metric provides a more useful comparison between periods and enables investors to focus on the performance of restaurant-level operations by excluding revenues not related to food and beverage sales at company-owned restaurants, corporate General and administrative expense, Depreciation and amortization, and Other gains and charges.

Restaurant operating margin excludes Franchise and other revenues which are earned primarily from franchise royalties and other non-food and beverage revenue streams such as banquet service charges, digital entertainment revenues and gift card breakage. Depreciation and amortization expense, substantially all of which is related to restaurant-level assets, is excluded because such expense represents historical costs which do not reflect current cash outlays for the restaurants. General and administrative expense includes primarily non-restaurant-level costs associated with support of the restaurants and other activities at our corporate offices and is therefore excluded. We believe that excluding special items, included within Other gains and charges, from restaurant operating margin provides investors with a clearer perspective of the Company’s ongoing operating performance and a more useful comparison to prior period results. Restaurant operating margin as presented may not be comparable to other similarly titled measures of other companies in our industry.

Q4 18

Q4 17

Operating income – GAAP

$

70.4

$

80.3

Operating income as a percent of total revenue

8.6

%

9.9

%

Operating income

70.4

80.3

Less:  Franchise and other revenue

(25.7)

(24.8)

Plus:  Depreciation and amortization

37.7

38.9

General and administrative

33.9

30.8

Other gains and charges

9.3

8.7

Restaurant operating margin – non-GAAP

$

125.6

$

133.9

Restaurant operating margin as a percent of company sales

15.9

%

17.0

%

Reconciliation of Free Cash Flow

FY 18; $ millions

Brinker believes presenting free cash flow provides a useful measure to evaluate the cash flow available for reinvestment after considering the capital requirements of our business operations.

Fifty-Two Week 
Period Ended
June 27, 2018

Cash flows provided by operating activities – GAAP

$

284.5

Capital expenditures

(101.3)

Free cash flow – non-GAAP

$

183.2

WEBCAST INFORMATION

Investors and interested parties are invited to listen to today’s conference call, as management will provide further details of the quarter. The call will broadcast live on Brinker’s website today, Aug. 14, 2018 at 9 a.m. CDT:

http://investors.brinker.com/phoenix.zhtml?c=119205&p=irol-eventDetails&EventId=5271637

For those who are unable to listen to the live broadcast, a replay of the call will be available shortly thereafter and will remain on Brinker’s website until the end of the day Sept. 11, 2018.

Additional financial information, including statements of income which detail operations excluding special items, franchise and other revenues, and comparable restaurant sales trends by brand, is also available on Brinker’s website under the Financial Information section of the Investor tab.

FORWARD CALENDAR

  • SEC Form 10-K for fiscal 2018 filing on or before Aug. 27, 2018; and
  • First quarter earnings release, before market opens, Oct. 30, 2018.

ABOUT BRINKER

Brinker International, Inc. is one of the world’s leading casual dining restaurant companies. Founded in 1975 and based in Dallas, Texas, as of June 27, 2018, Brinker owned, operated, or franchised 1,686 restaurants under the names Chili’s®Grill & Bar (1,634 restaurants) and Maggiano’s Little Italy® (52 restaurants).

FORWARD LOOKING STATEMENTS

The statements and tables contained in this release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on our current plans and expectations and involve risks and uncertainties which could cause actual results to differ materially from our historical results or from those projected in forward-looking statements. These risks and uncertainties are, in many instances, beyond our control. Such risks and uncertainties include, among other things, general business and economic conditions, financial and credit market conditions, litigation, reduced disposable income, the impact of competition, the impact of mergers, acquisitions, divestitures and other strategic transactions, franchisee success, the seasonality of the Company’s business, increased minimum wages, increased health care costs, adverse weather conditions, loss of key management personnel, product availability, actions of activist shareholders, terrorist acts, consumer perception of food safety, changes in consumer taste, health epidemics or pandemics, changes in demographic trends, availability of employees, unfavorable publicity, the Company’s ability to meet its business strategy plan, material weaknesses in internal control over financial reporting, governmental regulations, tax reform, inflation, technology failures, and failure to protect the security of data of our guests and teammates, as well as the risks described under the caption “Risk Factors” in our Annual Report on Form 10-K and future filings with the Securities and Exchange Commission.

BRINKER INTERNATIONAL, INC.

Consolidated Statements of Comprehensive Income

(In thousands, except per share amounts)

(Unaudited)

Thirteen Week Period Ended

Fifty-Two Week Period Ended

June 27, 2018

June 28, 2017

June 27, 2018

June 28, 2017

Revenues:

Company sales

$

791,391

$

785,836

$

3,041,516

$

3,062,579

Franchise and other revenues1

25,702

24,825

93,901

88,258

Total revenues

817,093

810,661

3,135,417

3,150,837

Operating costs and expenses:

Company restaurants (excluding depreciation and amortization)

Cost of sales

208,199

203,579

796,007

791,321

Restaurant labor

266,995

257,051

1,033,853

1,017,945

Restaurant expenses

190,564

191,364

757,547

773,510

Company restaurant expenses

665,758

651,994

2,587,407

2,582,776

Depreciation and amortization

37,664

38,883

151,392

156,409

General and administrative

33,947

30,805

136,012

132,819

Other gains and charges2

9,333

8,671

34,500

22,655

Total operating costs and expenses

746,702

730,353

2,909,311

2,894,659

Operating income

70,391

80,308

226,106

256,178

Interest expense

16,232

13,439

58,986

49,547

Other, net

(856)

(793)

(3,102)

(1,877)

Income before provision for income taxes

55,015

67,662

170,222

208,508

Provision for income taxes

11,292

17,078

44,340

57,685

Net income

$

43,723

$

50,584

$

125,882

$

150,823

Basic net income per share

$

1.03

$

1.03

$

2.75

$

2.98

Diluted net income per share

$

1.01

$

1.02

$

2.72

$

2.94

Basic weighted average shares outstanding

42,649

48,917

45,702

50,638

Diluted weighted average shares outstanding

43,469

49,435

46,264

51,250

Other comprehensive income (loss):

Foreign currency translation adjustments3

$

(391)

$

1,084

$

186

$

(327)

Other comprehensive income (loss)

(391)

1,084

186

(327)

Comprehensive income

$

43,332

$

51,668

$

126,068

$

150,496

1

Franchise and other revenues includes royalties, development fees, franchise fees, Maggiano’s banquet service charge income, gift card breakage and discounts, digital entertainment revenue, Chili’s retail food product royalties, merchandise and delivery fee income.

2

Other gains and charges included in the Consolidated Statements of Comprehensive Income include:

 

Thirteen Week Period Ended

Fifty-Two Week Period Ended

June 27, 2018

June 28, 2017

June 27, 2018

June 28, 2017

Cyber security incident charges

$

2,000

$

$

2,000

$

Sale-leaseback transaction charges

1,976

1,976

Restaurant impairment charges

1,797

3,338

10,930

5,190

Remodel-related costs

1,406

1,486

Foreign currency transaction loss

1,237

1,171

Accelerated depreciation

483

644

1,932

1,988

Severance and other benefits

306

369

306

6,591

Restaurant closure charges

201

463

7,522

4,084

Loss (gain) on the sale of assets, net

10

(35)

(293)

(2,659)

Hurricane-related costs (recoveries), net

(363)

5,097

Lease guarantee charges

1,089

1,943

1,089

Information technology restructuring

39

2,739

Other

280

2,764

430

3,633

$

9,333

$

8,671

$

34,500

$

22,655

Foreign currency translation adjustment included within Comprehensive income in the Consolidated Statements of Comprehensive Income represents the unrealized impact of translating the financial statements of the Canadian restaurants and the Mexican joint venture (prior to divestiture) from their respective functional currencies to U.S. dollars. This amount is not included in Net income and would only be realized upon disposition of the businesses.

 

BRINKER INTERNATIONAL, INC.

Condensed Consolidated Balance Sheets

(In thousands)

(Unaudited)

June 27, 2018

June 28, 2017

ASSETS

Current assets

$

156,284

$

144,325

Net property and equipment1

938,929

1,000,614

Total other assets

252,127

258,694

Total assets

$

1,347,340

$

1,403,633

LIABILITIES AND SHAREHOLDERS’ DEFICIT

Current installments of long-term debt

$

7,088

$

9,649

Other current liabilities

427,252

426,712

Long-term debt, less current installments

1,499,624

1,319,829

Other liabilities

131,685

141,124

Total shareholders’ deficit

(718,309)

(493,681)

Total liabilities and shareholders’ deficit

$

1,347,340

$

1,403,633

Net property and equipment at June 27, 2018 includes land and buildings for 194 of the 997 company-owned restaurants. The net book values of the land totaled $147.1 million and the buildings totaled $88.2 million associated with these restaurants. At June 27, 2018 the approximate net book value of the 137 restaurant properties included in the August 2018 completed sale leaseback transactions were land of $100.9 million and building and leasehold improvements and fixtures of $61.3 million.

 

BRINKER INTERNATIONAL, INC.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Fifty-Two Week Period Ended

June 27, 2018

June 28, 2017

Cash flows from operating activities

Net income

$

125,882

$

150,823

Adjustments to reconcile Net income to net cash from operating activities:

Depreciation and amortization

151,392

156,409

Stock-based compensation

14,245

14,568

Restructure charges and other impairments

21,704

14,412

Net loss (gain) on disposal of assets

1,602

(377)

Changes in assets and liabilities

(30,374)

(20,726)

Net cash provided by operating activities

284,451

315,109

Cash flows from investing activities

Payments for property and equipment

(101,281)

(102,573)

Proceeds from sale of assets

19,873

3,157

Insurance recoveries

1,747

Proceeds from note receivable

1,867

Net cash used in investing activities

(77,794)

(99,416)

Cash flows from financing activities

Borrowings on revolving credit facility

1,016,000

250,000

Payments on revolving credit facility

(588,000)

(388,000)

Purchases of treasury stock

(303,239)

(370,877)

Payments of dividends

(70,009)

(70,771)

Payments on long-term debt

(260,311)

(3,832)

Proceeds from issuances of treasury stock

2,321

5,621

Payments for debt issuance costs

(1,611)

(10,216)

Proceeds from issuance of long-term debt

350,000

Net cash used in financing activities

(204,849)

(238,075)

Net change in cash and cash equivalents

1,808

(22,382)

Cash and cash equivalents at beginning of year

9,064

31,446

Cash and cash equivalents at end of year

$

10,872

$

9,064

 

BRINKER INTERNATIONAL, INC.

Restaurant Summary

Fiscal 2018

Fiscal 2019

Total Restaurants

Fourth Quarter
Openings

YTD Openings

Projected
Openings

Company-owned restaurants:

Chili’s domestic

940

1

6

2-4

Chili’s international

5

Maggiano’s

52

1

Total company-owned

997

1

7

2-4

Franchise restaurants:

Chili’s domestic

311

5

4

Chili’s international

378

7

34

33-38

Maggiano’s

1

Total franchise

689

7

39

38-43

Total restaurants:

Chili’s domestic

1,251

1

11

6-8

Chili’s international

383

7

34

33-38

Maggiano’s

52

1

1

Grand total

1,686

8

46

40-47

We relocated two company-owned restaurants in fiscal 2018. In fiscal 2019, we plan to relocate five company-owned restaurants. Relocations are not included in the above table.

 

SOURCE Brinker International, Inc.

For further information: Chili’s® Grill & Bar | [email protected] | 800.775.7290

« All News

BRINKER INTERNATIONAL, INC. TO HOST FOURTH QUARTER FISCAL 2018 EARNINGS CALL

DALLAS, Aug. 7, 2018 /PRNewswire/ — Brinker International, Inc. (NYSE: EAT) has scheduled its earnings conference call at 10:00 a.m. Eastern Time on Tuesday, Aug. 14, 2018 to review fourth quarter fiscal 2018 earnings, which will be announced before the market opens on Aug. 14 , 2018.

Brinker International, Inc.

The live audio webcast can be accessed through the Investor Relations section of Brinker’s web site at http://investors.brinker.com/phoenix.zhtml?c=119205&p=irol-eventDetails&EventId=5271637A replay of the conference call will also be available on the company’s web site for 30 days after the event and via Thomson StreetEvents for their service subscribers.

Brinker International owns, operates, franchises, or is involved in the ownership of restaurants under the names Chili’s® Grill & Bar and Maggiano’s Little Italy®.

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/brinker-international-inc-to-host-fourth-quarter-fiscal-2018-earnings-call-300692012.html

SOURCE Brinker International, Inc.

media.requests@brinker.com | 800-775-7290

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CHILI’S TEAM MEMBER RECEIVES 2018 NATIONAL GED TESTING SERVICE AWARD

Team Member nominated for national GED award with the help of Brinker International’s education program, Best You EDU
DALLASJuly 26, 2018 /PRNewswire/ — Today, Chili’s® Grill & Bar Team Member (better known as ChiliHead internally), Robert Valencia, accepted the 2018 National GED Testing Service Award during the Annual Testing Service Conference hosted in San Diego, CA.

GED Award Recipient, Chili's Team Member Robert Valencia

The National GED Testing Service Award recognizes students who have earned their GED credential in the past year and demonstrated exceptional dedication and achievement throughout the process.

Robert has been a dedicated ChiliHead since 2017 and has dreamed of getting his GED for many years. In Jan. 2018, Robert jumped at the opportunity to apply for the GED pathway through the comprehensive education program, Best You EDU™. This first-of-its-kind program launched on Jan. 22, 2018 by Brinker International, Inc. (owner of Chili’s and Maggiano’s Little Italy®) in partnership with Pearson to offer Brinker Team Members, from hourly to management, education opportunities at absolutely no cost to participants.

In only four weeks, Robert quickly earned his GED credentials. From there, he immediately applied for the associate degree program in Best You EDU, was accepted into college and started his first semester in June!

“I am enrolled to start college this summer and I plan on giving it all of my effort to finish top of my class,” said Robert Valencia, Chili’s Team Member. “I often catch myself telling other Team Members about the Best You EDU program at work because it has benefited me in more ways than one…a diploma is great, but a GED can do just as much for you. Look at me – I’m starting college already!”

Best You EDU was designed to meet Team Members where they are on their educational journey, offering three main components: Foundational Education and ESL, GED and associate degrees. Robert is proof that a Team Member can obtain his or her GED and get into college in months versus years with help from his or her employer.

“Robert’s story, and countless others like his, is the reason why we developed the Best You EDU program,” said Rick Badgley, chief people officer at Brinker. “We value our Team Members and their professional growth and our goal is to invest in our current Team Members in order to promote from within versus seeking talent elsewhere. Robert’s dedication to his professional development and education has paved the way for other Team Members to follow in his footsteps.”

Robert is just one of the many Chili’s and Maggiano’s Team Members who have benefitted from Brinker’s Best You EDU program. To date, the program has helped 12 Team Members graduate with their GEDs and 65 Team Members are actively working towards earning an associate’s degree, but Brinker doesn’t plan to stop there. Learn more about Best You EDU by visiting, http://www.chilisjobs.com/growth-development/education-advantage/

About Brinker International, Inc.
Brinker International, Inc. is one of the world’s leading casual dining restaurant companies. Founded in 1975 and based in Dallas, Texas, as of the fiscal first quarter ended Sept. 27, 2017, Brinker owned, operated or franchised 1,682 restaurants under the names Chili’s® Grill & Bar (1,630 restaurants) and Maggiano’s Little Italy® (52 restaurants).

 

SOURCE Brinker International, Inc.

For further information: Chili’s® Grill & Bar | 800.775.7290

« All News

BRINKER INTERNATIONAL NAMES KELLY C. BALTES PRESIDENT OF MAGGIANO’S LITTLE ITALY

DALLAS, July 24, 2018 /PRNewswire/ — Brinker International, Inc. (NYSE: EAT) today announced that Kelly C. Baltes has been named executive vice president and president of Maggiano’s Little Italy®. In this role, Baltes will be responsible for overseeing all aspects of Maggiano’s restaurants including strategies for future growth of the brand.

Baltes brings more than 30 years of extensive and proven restaurant experience to Brinker, including leadership positions held at Cheddar’s Scratch Kitchen, Red Lobster and Olive Garden. As chairman and chief executive officer of Cheddar’s, Inc., he exemplified inspirational leadership with a commitment to visit every restaurant and meet all management team members in his first 90 days. During his tenure with the brand, he more than doubled its size, built a leadership team, initiated the name change to Cheddar’s Scratch Kitchen and achieved industry recognition as a Nation’s Restaurant News Golden Chain Award winner. Prior to that, Baltes served as executive vice president of operations for Red Lobster where he led the operational and profitability transformation that put the brand at its top performance in almost a decade.

“When you ask a Guest about their experience at Maggiano’s, they often tell stories of how we made them feel special in the restaurant and go above and beyond to make a celebratory moment even more memorable,” said Wyman Roberts, chief executive officer and president of Brinker. “I’m excited for Kelly to join our team because his experience and leadership style will be instrumental in the strategic thinking around how we continue to differentiate and perfect the Guest experience at Maggiano’s.”

“It is an honor for me to join the incredible Maggiano’s family. I have been a longtime admirer and guest of Maggiano’s and have a great deal of respect for the culture, hospitality and made-from-scratch Italian-American cuisine,” said Kelly C. Baltes. “I look forward to visiting each restaurant, meeting Teammates and working with the leadership teams for continued success of the brand.”

Brinker International, Inc. is one of the world’s leading casual dining restaurant companies. Founded in 1975 and based in Dallas, Texas, as of the fiscal third quarter ended March 28, 2018, Brinker owned, operated or franchised 1,686 restaurants under the names Chili’s® Grill & Bar (1,634 restaurants) and Maggiano’s Little Italy® (52 restaurants).

SOURCE Brinker International, Inc.

For further information: Chili’s® Grill & Bar | 800.775.7290