You have reached your limit of free articles this month.

Enjoy unlimited access to

Starting at just 99¢ for 8 weeks.


  • ePAPER

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks


Welcome to

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on

Chuy’s revenue jumps 15 percent in fiscal 2016


A good chunk of the growth Chuy’s saw in 2016 was fueled by the addition of new locations.

Since the start of the new year, Chuy’s has already opened two additional locations, including Cedar Park.

Austin-based Chuy’s Holdings Inc. saw its revenue jump 15.2 percent in fiscal 2016, hitting $330.6 million, the Tex-Mex chain said Tuesday.

That’s up from $287.1 million in fiscal 2015.

A good chunk of that growth was fueled by the addition of new locations, the company said, with comparable restaurant sales up just .8 percent year over year.

Adjusted net income was $18.3 million, or $1.08 per diluted share, in fiscal 2016, compared to $15.6 million, or 93 cents per diluted share.

“We grew our revenue over 15 percent during 2016, drove positive comparable store sales for the seventh year in a row and produced adjusted net income growth of 17 percent,” Chuy’s president and CEO Steve Hislop said in a written statement. “We also successfully opened 12 new Chuy’s restaurants during the year, a 17 percent increase in our store base and a key driver of our growth. We have now opened 72 restaurants in 15 states in the last 106 months bringing our total count to 80 restaurants as of Dec. 25, 2016.”

Since the start of the new fiscal year, Chuy’s has opened two additional locations, including one in Cedar Park, at 4911 183A toll road. The other is in Cumberland, Ga.

The 2016 year-end results were released the same day Chuy’s unveiled its numbers for the fourth quarter. Revenue grew 11.4 percent to $79.1 million, compared to $71 million a year earlier.

Comparable restaurant sales fell 1.1 percent. The average check increased 1.3 percent during the quarter, but there was a 2.4 percent decrease in average weekly customers. The chain cited bad weather in parts of the country and Christmas falling on a Sunday in 2016, as opposed to on a Friday the previous year, as contributing factors.

Adjusted net income rose 5.2 percent to $3.1 million, or 18 cents per diluted share.

Hislop said this year is shaping up to be a strong one for Chuy’s, which was started by Mike Young and John Zapp in 1982 with a single restaurant on Barton Springs Road in South Austin.

“For 2017, we are on track to open 12 to 14 new restaurants, including a healthy blend of new and existing markets,” Hislop said. “This year will include our first restaurants in Denver, Chicago and Miami. We continue to believe we have a huge runway for growth ahead of us and remain excited about the long-term prospects of the Chuy’s brand.”

For fiscal 2017, Chuy’s said it is projecting comparable restaurant sales growth of 1 percent to 2 percent and diluted net income per share of $1.11 to $1.15.

Chuy’s shares closed Tuesday at $28.50 in regular trading, up about 1 percent.

Reader Comments ...

Next Up in Business

Business Digest: Citigroup to pay $97.4 M in money laundering case

FINANCE Citigroup to pay $97.4 M to settle money laundering case For years, Citigroup employees feared that millions of dollars the bank was moving to Mexico might be suspicious. Yet in many cases, the bank did not alert regulators or step up its monitoring for money laundering, federal prosecutors said Monday. Even as the Citigroup unit Banamex USA...
2 more Blue Bell flavors return to stores this week
2 more Blue Bell flavors return to stores this week

Blue Bell’s slow return to normalcy continues following a nationwide recall prompted by listeria fears nearly two years ago, with the Brenham-based creamery rolling out two more flavors this week. Lime sherbet and orange sherbet are both once again available beginning Monday, the company said. Blue Bell has been gradually adding back...
Up the Ladder

Financial services Citizens Inc. has named Jeff Conklin chief accounting officer company. Health care St. David’s Medical Center has named Esther Chung chief operating officer and Lynn O’Neill chief nursing officer. Medical Elligo Health Research has named Rebecca Kush scientific innovation officer. Retail Whole Foods Market has named the...
Top Local Business Stories of the Week
Top Local Business Stories of the Week

HOME SALES Area home sales, home prices surge in April: Central Texas home sales rose just over 3 percent in April and the median price of those sales hit $305,000 — the second-highest level ever, according to new data from the Austin Board of Realtors. The median also set a record for an April. To date, the all-time high for the median home-sales...
America’s fiscal sword of Damocles

“Every man, woman and child lives under a nuclear sword of Damocles, hanging by the slenderest of threads, capable of being cut at any moment by accident or miscalculation or by madness.” President John F. Kennedy delivered those frightening words in front of the United Nations back in 1961. Not much has changed over the decades &mdash...
More Stories