Brinker International CEO Kevin Hochman discusses the strategies behind Chili's recent success, including new advertising campaigns and plans for restaurant renovations.
Brinker International CEO Kevin Hochman outlined the strategies that have revitalized the Chili's chain in a recent interview with CNBC's Jim Cramer. Hochman highlighted the success of new advertising campaigns, crediting them with driving customer growth and restoring the brand's relevance. He expressed confidence in Chili's continued momentum, stating that the company is witnessing a consistent improvement in its quarterly performance.
This growth is currently fueled by a remarkable 19% increase in customer traffic. 'We don't think this is the end, we think this is just the beginning of the Chili's turnaround,' Hochman emphasized.On Wednesday, Brinker International announced impressive financial results for the latest quarter, reporting $1.35 billion in sales compared to $1.06 billion during the same period last year. This positive news sent the company's share price soaring, with the stock finishing the day up more than 16%. Hochman attributed Chili's sustained growth to its ability to retain new customers. He addressed the perception that Brinker invests heavily in Chili's advertising, acknowledging the effectiveness of their marketing efforts, particularly their strategic selection of programs and live sports events.Looking ahead, Brinker International plans to renovate approximately 200 of its 1,200 Chili's locations, focusing on restaurants that require modernization. Hochman revealed that the company is developing a new design concept that will be implemented starting next year. He underscored the importance of creating a welcoming and engaging atmosphere, especially in the post-Covid era, as consumers seek out communal spaces. Chili's remains committed to its core value proposition of offering consistently affordable dining experiences.
CHILI's BRINKER INTERNATIONAL KEVIN HOCHMAN ADVERTISING RESTAURANT INDUSTRY TURNAROUND CUSTOMER GROWTH REVENUE
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