Jahi Chikwendiu | The Washington Post | Getty Photos
Workers line dance in the restaurant aisles in the course of the opening day of Texas Roadhouse in Nottingham, MD.
Shares of Texas Roadhouse fell far more than thirteen % in midday trade Wednesday, following the corporation noted disappointing same-retail store profits.
The closely viewed metric confirmed comparable profits at corporation shops grew one.two % for the fourth quarter, missing an estimate of 3.one % from FactSet and down from 4.five % progress a year back.
In a launch, the Kentucky-primarily based steakhouse chain attributed the decline to “the calendar change of the Xmas getaway.”
Xmas fell on a Sunday in 2016, vs . Friday in 2015.
Fourth-quarter earnings of 29 cents for every share also missed a Thomson Reuters consensus estimate of 38 cents and fell 3 cents from a year back. Texas Roadhouse said the decline was thanks to included bills, this sort of as bigger wages, in 2016.
Earnings for the quarter was $484 million, missing FactSet estimates of $497.two million but up from $454 million a year back.