- Comparable restaurant sales growth of 3% to 5% for Pollo Tropical;
- Comparable restaurant sales growth of 3% to 4% for Taco Cabana;
- Cost of sales as a percent of restaurant sales will be approximately even with the prior year, as commodity cost inflation is expected to be offset by pricing and operating initiatives;
- General and administrative expenses of $46 to $48 million, including $2 million of equity-based compensation;
- An effective tax rate of 32% to 34%, including the impact of the reinstatement of the Work Opportunity Tax Credits for 2012 and 2013;
- 14 to 17 new Company-owned restaurants; and
- Capital expenditures of approximately $45 to $50 million.
Fiesta Restaurant Group, Inc. (“Fiesta” or the “Company”) (NASDAQ: FRGI), the owner, operator, and franchisor of the Pollo Tropical® and Taco Cabana® fast-casual restaurant brands, today updated its outlook for 2013. For 2013, Fiesta has provided the following outlook: