Brinker International sets 4-6% growth targets through fiscal 2029
The Chili's owner laid out a longer-term financial plan at its investor day in Dallas, including plans to open 30 new restaurants a year by fiscal 2029.
Published
Brinker International used its investor day in Dallas to lay out financial targets running through fiscal 2029. The company is aiming for annual revenue growth of 4% to 6%, backed by unit growth of 2% to 3% a year, with new restaurant openings rising to 30 annually by fiscal 2029.
The plan also calls for double-digit annual growth in non-GAAP net income per diluted share, along with annual share repurchases of 3% to 5%. Brinker said further buybacks would depend on its board approving additional authorizations.
CEO Kevin Hochman framed the targets as a continuation of recent momentum. "Chili's has never been more relevant," he said. "We are excited to keep building on this momentum."
The new targets follow a period of unusually fast growth at Chili's, which posted same-store sales gains of 31.4% and 31.6% at the peak of its turnaround. Growth has slowed since then as the chain laps those comparisons, so a 4% to 6% long-term revenue goal reads less as a new growth signal than as a formal acknowledgment of a deceleration already underway. Taken that way, the targets mark the turnaround settling into a steadier phase built on buybacks, rather than pointing to any fresh upside or downside for the stock.