Portillo's Expects At Least Nine New Restaurant Openings For FY24, Commodity Inflation Ranging From 4% To 6%
Portfolio Pulse from Benzinga Newsdesk
Portillo's has announced plans to open at least nine new restaurants in FY24, with commodity inflation expected to range from 4% to 6%. For 2025, the company targets at least 12% new restaurant growth, with a long-term outlook of approximately 12% to 15% annual new restaurant growth.
February 27, 2024 | 1:05 pm
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POSITIVE IMPACT
Portillo's plans for significant expansion with at least nine new restaurants in FY24 and aims for a 12% growth rate in 2025, with a long-term goal of 12% to 15% annual growth.
The announcement of new restaurant openings and the ambitious growth targets for the coming years are likely to be viewed positively by investors, as they indicate a strong growth trajectory and confidence in the company's business model. However, the noted commodity inflation could pose challenges to profitability, which is reflected in the confidence score.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100