Portillo’s second quarter income rose, supported by greater checklist costs

Written by Sabella Ojea

Income jumped final quarter, Portillo mentioned, because it raised menu costs to offset greater commodity prices and elevated labor bills.

Shares fell 1.6 p.c to $22.01 in pre-market buying and selling.

On Thursday, the quick meals chain reported second-quarter revenue of $6.79 million, or 12 cents per share, in comparison with $5.11 million, or 13 cents per share, for a similar interval final 12 months.

Normal and administrative prices elevated 27% to $19.6 million within the interval, and whole restaurant working bills elevated 13% to $126.5 million.

Income rose 12% to $169.2 million, with same-restaurant gross sales up 5.9% within the interval. Analysts polled by FactSet had anticipated gross sales to rise by $170.4 million.

Write to Sabela Ojea at sabela.ojea@wsj.com; sabelaojeaguix is ​​not following anybody. Autodesk_new

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