FRGI Fiesta Restaurant

Raphael Gross Managing Director at ICR
Rich Stockinger President & Chief Executive Officer
Dirk Montgomery Chief Financial Officer
Nicole Miller Piper Sandler
Brian Vaccaro Raymond James
Call transcript
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Good afternoon and welcome to the Fiesta Restaurant Group Inc.

First Quarter 2020 Earnings Conference Call. Today's conference is being recorded. At this time, all participants are in a listen-only mode.

Following our presentation, we will conduct a question-and-answer session. for that provided up to be question. for will you time at queue Instructions

like the ahead. to Raphael now would I turn Director ICR. Gross, call at Please go Managing to over

Raphael Gross

quarter Thank Fiesta after market today. you closed release Restaurant first the operator. was XXXX Group's issued earnings

not it, If company's be the it found you have section. under can on website the already accessed Investor Relations

on the that to future Before you of that regarding based today, I'd are objectives projected call budget, statements various like statements inform business and information. operations, statements company begin, financial forward-looking make of plans, we the will limitation, operations. results These include and historical not for during management costs strategy, position without and company's the future

from materially from differ what and factors forward-looking company's correct. the the forward-looking differ may that is statements forward-looking or statements be cause in assurance results to or SEC and company will actual outcomes be the materially in that forecasted implied found statements Important filings. can by those could give expressed such can no such to expressed prove Actual results

available be information Please in Any considered call, accordance in is during for to today's the can financial its in non-GAAP the will evaluating discussed, should with -- earnings substitute GAAP such isolation not release. in comparable earnings that which or results GAAP measures be prepared company as a reconciliation and discussion believes certain of be a performance. the note measures company's in conference useful

are Financial and today Chief Stockinger; Chief the Officer, Dirk President Executive and call Montgomery. Rich Officer, On

to over call the turn I'll now And Rich.

Rich Stockinger

support update to our last the a on COVID-XX the much and thank shareholders. call other their earnings The crisis. I'd world call place different you continued like for is since today Ray. the investors during participants all first our to an Thank

covering be topics three today. I'll

driving efforts update update priorities sales provide and changes financial then the to results. Dirk operational a on and brief crisis; and key quarter our on Our will crisis; other this an a during our response in update. first

vendor for crisis of and been by steps shareholders, to of employees, communities. and continuing to as sales Our and be better their drive results. reputation be while and our follows. safety landlords our protecting our service right and the our maximize of our developing have and our a team team customers, maximizing company, those continue our to on partners, will and am brands to our doing well-being of providers and focus in proud priorities time our in Taking members and the this I liquidity leader priorities, ways new ensure

We working been cash on drew X. down to crisis had a million cash and flexibility have the protect $XX.X availability, our all as of operating and in to our began. second the quarter early maximize total revolver balance In a -- order of capacity we since capacity efficiency May

successfully more only We been with focusing have capital landlords and half projects. service our terms vendor our cut partners, and XXXX plans working are necessary cost reductions. flexible in on We CapEx payment and providers regarding

proactively financial the we on Dirk any avoid covenants pandemic. our loan of issues the covenants to in management of and at will the moment. the potential in were liquidity We our activities color future in first financial global uncertainty to provide working amend full to quarter are a loan own compliance given our this related end our lenders with economic more

ever to than more finding sales for ways a drive better Now focus new key is teams. and

to to designed our enable a better customers and our safely business model brand enjoy they choose. developing wherever however are We

to We have options. expanded and will delivery expand continue

improving Pantry and our be are pick-up safer our including rapidly options, Pantry TC and created Pollo customers. faster for capabilities have We dining and more curbside in-home and to

dining due and all safe to Pollo making company make Tropical is of are in a Since Florida our all the have Cabana XXXX, room future exit continued we time, return top have we COVID-XX Florida as which Texas, areas March are crisis the safety confident we Taco seating the and members growth. is Texas XX, better and final stages for ultimately we of the to and to in priority. Additionally, designed this restaurants that we that our in announced in we closed changes proactive our restaurants pandemic. will dine-in to positioned respectively our activity for and guests sales ensure ready team On

our pandemic: additional the regarding restaurants. We room following restaurants our wear dining in procedures on We increased stocked the and preventive sanitation cleanliness have employees We house. products taken areas safety to sanitation health COVID-XX disinfectants high-traffic the our with handwashing with all protocols to back members. in emphasis restaurant and heightened the All hand response team our gloves effective of We customer-facing in measures vendors in restaurant restaurants required the and sanitizers including are masks. and with

in all restaurant. in reduced self-service restaurant Illness Protocol with in distancing. Center sealed We Disease hours Restaurant every accordance Control federal carryout the containers. state restaurants providing stations social We soda any CDC closed All orders salsa mandates. Employee We COVID-XX are a consistent added now and local sauce closed and implemented sauces We've the served self-service now pre-packaged the operating packaging and stations in in guidelines. and markings or for National and for with Association enclosed and salsas

of hours. the dedicated COVID-XX move in the implementing during continuously we government all area As added We've restaurants sanitize measures. dining sanitation reducing open toward team members in additional are restrictions, safety following to authorities process

of We ensure any restaurants. restaurants; restaurant guest sections our We're are access at the counter and drive-thru restaurant a daily created points exit entrance enter of they all installing separate plexiglass the distancing. to service providers time the at shields we've and employees and temperature measuring

card our terminals of attendee; into processing upon at credit insert drive-thru extending their guest Modifying cards seat drive-thru the customers devices handing without outside masks not distancing, cashiers; with the allow facilities. required credit to and credit with to required are processing all to cards our devices to guests card arrangements the drive-thru customers the providing to distancing card and to entering their allow ensure our wear drive-thru for any exchanging

also eliminated to to and efficiency, this reduced customers' of have meet We restaurant and/or guests low of hours options response efficiency. improve during speed certain periods in we've adjusted also government-mandated our patterns our better low service needs and To crisis. We've our mix adjusted sales operating model match improve sales during and staffing of shifting channel to and restrictions. models improve menu to traffic

special restaurant better for people $X bonus and We've and our employees priority members the for Taking have following support taking implemented this crisis. incentive additional team to customers. during during the hour who per top management our care supervisors crisis and we serve risk the incentives offered of hourly store are actions is to our all a of

programs The assisting donation employee company significant made made were by assistance hourly fees. its benefit in were employees possible Foundation Those Group's just a enhanced donations in Restaurant Family the health recently foundation second quarter employee dedicated Directors foregoing to of their Fiesta is need. to part The announced. Additional that Board Fiesta

for our free and weekly working continue delivery Both on for all XX local which logistics to personnel, the in as responders, operate. through and front showing To medical the school-age responder first providers to thanking crisis community providers increased our of discounts of of COVID-XX XX% showing have support meals. noon actions. lines our on well hospitals, been of from always through the units a in been the first we brands Both offering lines front that military. are the a.m. and the those will to and testing Friday be has Monday children both all way service markets following as delivered the as are meals important food centers are brands kids crisis needed brands we provide to and for appreciation Supporting donating

floor workers To thank help donations to team's deserve front a local community deserves launched Hero" at Tropical recognize Local members Heroes' our hero's is quarter. our a during program social second Cabana on a will behalf allows to their coordinate hospital similar Taco also submissions to line locations hero launching a that station. April nominate media worker work fans social Pollo frontline a the in meal. "Nominate the or who be you the that to such Pollo a campaign as food thank using convenience a you fire that

representatives Every each are restaurants, we Pollo Taco in Cabana what we broader and are the we the way day our communities and of of of pride our Tropical members we team who for in which serve. stand take

with are business investors how, put our as strong working position, and forward. more we this going a in information our to We our a are and provide culture who guests about

all of productivity investments, how of drives proud are diversity, respectful we turn our particular, which opportunity promote and capital treatment and seasoned quality, in innovation. In people,

that management team are and women XX%, our team are officers proud includes, field women, of fact our field are XX% XX% of of XX% and particularly which are of our women, We and our minorities, officers of management our of Directors minorities, our Board XX% are the of are Chairperson.

competencies unprecedented these to other contributed our to strongly time. during believe and communities, and that We and difficult core have serve ability mission this beliefs each our our to

are stakeholders this transparent our and all on long-term value. driving together -- website, into that a and move about will continuing more how in efforts, enable as commitment insight, to these additional We giving world we growth, towards be forward, our anticipate our post-COVID are our we reporting,

the disruptive supply or on the impact a chain, on chain impact, labor. our our negative Regarding has pandemic had of to COVID-XX supply significant not access

that in the impact be there to be access assurance Although, supply our no significant a there or future. chain not labor can will on

risk, proteins in food managing determine, they to product We we limited mitigate availability their are safety when safety supply appropriate we and supply how and key mitigate but potential categories risks. we are including, back our have levels, supplies. sanitation not stock ensure actively To and building flow, food operations alternative sources, supply monitoring to suppliers, inventory identified also are additional to

the and needed team implement to the to ensure continue the to to virus respond we additional members of And as closely. measures, Since situation will our the are constantly COVID-XX monitor safety efforts guests. changing,

and recent trends, accelerate the our efforts sales in to highlight I'll changing environment. sales, Now

comp XX% Cabana. April, sales for since Post-COVID-XX stabilized both were both brands, down comp and at that trends XX% April early weekly, sequential March at sales time. brands, Tropical to late realized Taco for Pollo in sales improvement having

improving the been previous have Xrd, our For May by to two day, Taco Cabana sales and driven down comps sales every weeks alcohol out sales, both carry recent over drive-thru have weeks, improved strong brands ended XX.X%. the for

weeks Pollo for increased two improved and have delivery Tropical the Xrd by driven to drive-thru sales down XX.X%, ended sales. May

of we Texas sustainable which to from base, State reaccelerates. be And the have to At that rebuild generate which delivery. estimate believe those for big bottom-line, sales roughly us economy pick-up -- created sustainable. we will a changes alcohol breakeven Taco the opportunity provide trends, as me we should drive-thru excuse sales in profitability, The Cabana. allow And the a

and change and has and for post-COVID by This margarita sales Taco. in to $X a brought post-COVID Alcohol been $XX.XX. under, just margarita brand XX% the driver the driven has big new growth, during lost has mix at period, customers period, driving packages averaged gallon

This versus a CDM, last to XX%. comp Mayo de year Cinco XX.X%. Cinco The up growth at day sales record-setting we led XX,XXX alcoholic is of with sold de over beverages. reported day And on Mayo

working bounce purchase promotions, as, with visits increasing new repeat these on We visit to and return food-focused are frequency offers. customers back such

sales, sales, this than to year to from to to X.X% restaurant sales. of both at follows. X.X% quarter, brands Pollo in sales opportunity. X.X% penetration our be improving from more big continue improve area as And in penetration restaurant with sales we versus doubled the last a and of Taco continues of capability Off-premise improving X.X% of first at Off-premise

previous During including and quarter, of providers supplement the our delivery with significantly to the number and addition partnership Uber first offers Favor Eats, DoorDash. our the ongoing brands service of we grew that Postmates

With Grubhub! partnerships now Fiesta major May in all additional the with has DSPs.

purchase delivery We alcohol of addition deliveries. believe benefit incremental firstly, are enable that are the the occasions DSPs, currently at our and drive-thru In Taco of food with the represents sales we Taco. of that to home expansion own we at popularity to additional throughout added order the will day big leverage drive-thru alcohol drivers, and a lines and testing delivery delivery and alcohol creating potential of

mobile design significantly the our curbside our company at Bottle apps digital development and digital We will feature, via strategy payment guest's are Those leading enhancements include Rocket, brands. continuing both work to with in improve features features, experience go-to-marketplace a pickup a June the are to evolving and provide ordering which interaction frictionless Pollo Tropical Cabana. to guests feel essential we These for our control experience brand go September -- of with improvements Taco landscape. over with their our will and

Pollo platforms. dine-at-home consumer meet providing and better breasts six are great company at that famous menu Pollo consumers are and the To value. the features at high-quality Pantry solutions fresh cook menu a whole the can dining TC $X; ranges chicken April of The for marinated citrus in-home Pantry preferences The chicken menu Pantry launched home; chicken in for $XX. our XX-hour

Additional programs include and bulk shrimp. Churrasco for marinated available purchase steak

famous In for up can larger-sized just feed and rice ready-to-eat addition XX features packages white the beans that people menu our $X. in to black

Taco and Cabana's value cooked on be fajita such TC that consumers chicken is flautas and provide grill options for dining the that at meat quality also to as seasoned dozen steak additional Pantry in a bulk with a can items $X.XX includes breast sized designed ready-to-cook seasoned minutes. in-home

$X.XX pound our options Eat TC of and also Pantry our and for shredded $X.XX & popular dish sizes to includes and TC including $X.XX large pound. seasoned per most side per beans peppers $X.XX Pantry XX ground refried rice beef quantity feed portion all and and at chips Heat popular for in options onions people. offers at chicken including queso

the menu field [Indiscernible] Mexican have menu Cheesy $X.XX back at we Nutella be marketing items Empanadas, building both airline brands. with Nutella corn aggressive in fan-favorite innovation and our a flautas, recently value brought and commenced. of corn field item, will Pollo, Taco Product upcoming Yuca At Cabana's Empanadas. they performing since weekly support product been reintroduced. to and at multiple training these Bites, delicious Sale continue pantry priority fritters well and recently priced were a include all including under more

has want themselves at have guests our as a to in well I closing, respond positive who that all this leadership clock team crisis. my In appreciation to especially to members the around express to for employees, my working serve and risk team our placed restaurant as way continue operation been to our

we and we to We over to exit week stronger seeing are gains communities. in the are to encouraged a And our market by the a as improving positive continue crisis will sales we week. ready trends company share continue influence believe be

it to turn cover I'll financial to over Dirk highlights. the Now,

Dirk Montgomery

Rich on provide provide first on I'm then going update you, results afternoon everyone. good management period to commentary an quarter our and during some this of strategies Thank financial uncertainty. and economic

Taco million comparable from and the revenues year declines prior to of due the underperforming at first primarily quarter XXXX. sales impact Cabana quarter first the to XX.X% period brands $XXX.X the restaurants Total decreased restaurant of in both COVID-XX

the make Tropical competitors compared sales of to and Off-premise continue and Taco consisting We quarter quarter progress And in is off-premise in sales at Cabana. than doubled still year. Pollo below to prior with penetration to year our during online first well our X.X% compared more delivery. last at catering the X.X%

million a $X.X charges million diluted other in including opportunity these huge XXXX. net or especially in share a $X.X to $X.X diluted restaurant be diluted impact, rent income to continues share per from consolidated and for including Off-premise impact net including million million was of times. $X.XX loss $X.X us first The closed from $X.XX negative charges items $X.XX $X.XX or impairment the share quarter in per primarily compared negative in of $X.X a charges restaurant million closed per

diluted see share On $X.XX $X.X adjusted first loss in $X.XX the per This XXXX. an reconciliation of compared earnings million for million diluted income quarter was details. per table more net in adjusted basis an of net $X.X to or or share. the release our Please the non-GAAP

quarter. had to $X.X or primarily that, of underperforming operate, which charge, Cabana for and during to on income through of accounting noncash million We go impact Tropical million three unfavorable per first an $X.X net the let's entries a Taco assets restaurants restaurants related significant two recorded in we Pollo the $X.XX some first share With the XXXX. that diluted quarter continue underperforming of impairment

last decline Now pricing. decrease At quarter first offset comparable in an year's transactions, in approximately in partially sales check, turning Tropical, average X.X% brands. increase comparable X.X% consisted to of This of X.X% our the Pollo in compared to decrease of X.X% a a increase an restaurant individual X.X% by restaurant decreased year.

Pollo basis to quarter. Box comparable for sales to share evidenced Tropical gain outperformance the continues the by the market on transaction both Black as compared and

also new Florida cannibalization XX an during point have the quarter core within We experienced estimated market. first impact from basis our South store

is positive new it believe we market. However, total the while development a in growing overall the for the enhance since brand us to guest allows experience our share

the pleased were generated months first comps before XXXX, of weeks has Polla building of for fourth the Comparable the of during XXXX, of February impact of Pollo the through We quarter. increased quarter Tropical on COVID from consecutive brand that XX sales restaurant sales the four momentum the first positive the X.X% crisis.

sales XXXX. has impact XX% comparable and in Reflecting for COVID quarter early XX.X%. during time the the due weeks sales COVID-XX, with that the to sequential of Pollo of the of the realized stabilized the three two May trend down first sales improvement decline of March Comp since decreased weekly and April ended sales store last weeks crisis late three

We now. are week improvement every seeing

first million branch or profitability Pollo as non-GAAP by $X.X Restaurant filings to XX% adjusted SEC the million into Tropical quarter. or Turning restaurant $XX.X XX.X% of sales. defined level EBITDA in decreased from for million sales of restaurant a our $XX.X measure at

Pollo mix impact related and and of restaurant and Tropical of As to and costs a higher experienced the in first sales operating fixed due restaurant lower percentage of due other wages expenses. costs, sales commodity sales higher expenses the quarter, cost to sales

XXXX. in Pollo by of Tropical defined to third-party million Other in restaurant to million and cleaning measure a first our the SEC decreased operating for quarter Adjusted delivery as in comparable $X.X lower expense addition the of contracted $X.X sales. impact negative services fees increases higher filings non-GAAP included EBITDA,

recorded to last average the primarily transactions, impairment an sales to check. a related the primarily The assets million with year. sales. to a Tropical quarter restaurant year's restaurants consisted Pollo by restaurant increase and alcohol average $X.X we At of charges, the we partially operate. the also decrease This During limited in decrease offset first transactions increase a offerings three check XX.X% comparable in X.X% Cabana, of XX.X% decline decreased that compared in Taco by comparable time quarter, underperforming for continue X.X% increase driven in of in was

XX due quarter the to March decline since first sales Taco three during XX.X% first for during the and restaurant early of had Cabana the that impact sales XXXX time sales of the down Taco and improvement XX.X%. last sales of the X the prior crisis two and of Comparable COVID-XX weeks decreased in late with first COVID trend the X.X% decreased for the Comp weeks stabilized weeks XXXX. May to quarter of weekly ended realized April sequential of

alcohol Drive-thru promotions sales XX%, part in through strong the from March of and grew by end food April X driven sales.

driven years believe Mayo customers holiday mentioned, by de new Cinco to have holiday of Rich year's May the with the compared Mayo de we Taco brand. seeing five margarita the our As momentum last has X strength sales. good promotions, to we're sales Cinco We holiday sales in very the XX% of and growth strongest brand come

defined EBITDA, or sales. quarter Restaurant in the a brand's decreased XX.X% X.X% from of to by million measure restaurant of at level $X.X sales Turning Taco or SEC million first Cabana to our filings $X.X restaurant profitability. million adjusted $X.X as non-GAAP

sales sales. higher third-party percent the lower costs in higher sales of first and negative restaurant higher cost to inefficiencies expenses to and and quarter, of addition operating a promotional Cabana including due activity operating fees and in other incurred insurance of delivery As comparable Taco impact increased discounting restaurant the

negative first filings Adjusted decreased a million $X.X by as million Taco of non-GAAP at in in to $X.X the defined quarter measure Cabana SEC XXXX. EBITDA our

$X.X restaurants assets we also During impairment the operate. continue million that charges to Cabana we two underperforming to for quarter, related recorded Taco

first our XX. on/or Turning XX current shares now we before March quarter to a repurchased Under during few program, additional items. million repurchase the financial share

cash during closely share We managing repurchases we flow. which suspended period, have this in are

capital Total were million. of in the expenditures $X.X XXXX first quarter

restaurant company-owned million Our restaurant for for million expenditures technology $X.X for new corporate. and $X.X $X.X consisted million of and $X.X development, for maintenance, million remodeling

in financial challenges presented our to management the economic the turning Now crisis. COVID plans by to response

be only previous has implementing the expenditures million aggressively organization entire protect are currently Our and day been XXXX compared necessary $XX cut budget of less following one, staff million we than the to in $XX from working range to for expenditure our for capital expected investments. estimates of to XXXX capital measures; to efficiency XXXX million. improve to $XX

a $XX term as to improved million. and to been result renegotiations, $XX has expected XXXX improve pricing flow and efficiency are cash by landlord capital which in million vendor of Working payment

have all very Rich improving for process We projects and place payments. capital review spending vendor disciplined in I and and payments.

$X.X were early terminated April, office of of field total In to total furloughed, approximately is related $X.X and salary XXX which employees. personnel million, of million annualized terminated representing or approximately savings

signed addition, for for salaries presidents one quarter. all and for that vice were for now sale properties In have stage by in sales least be assurance leaseback consummated. at market owned sale contracts our or transactions four XX% or or XX% executives of the can XX be sale reduced the there no will to letter to although intend either properties any sale, We ultimately intent leaseback and are

down from efforts, Xth. of million on the the actually increased a of of since revolver drew our April as result when $XX.X we first As to week $XX.X have balances cash May million

our currently at sales As Rich breakeven is profitability. mentioned, trend

Our flow capital goal cash the capital working fund is through from expenditures sales. property increased to and efficiency

the of trends, will we sales recent result liquidity that the confident end and XXXX. of adequate a the all feel through efficiency we efforts of As have

In feel weekly. continues momentum, about our top good improve to closing, line very we it

members. team efficiency We on focused well-being to improving are our and safety we on customers and of will stay very continue and focused

exit for that company we better profit with crisis the future will positioned growth. and sales We are this confident ultimately

call questions. for up open listening, to Operator? now you Thank will and the we


ahead. from [Operator our question from Nicole Instructions] now Piper take We will Miller Sandler. ahead. Please you, Please sir. Thank go first go

equipment. your open. is ensure mute Please our is your allow reach off line to to turned signal function Your

Nicole Miller

you Can afternoon. me hear Good okay?

Rich Stockinger

Nicole. Yes, we can

Nicole Miller

thinking you a Thank questions about I'm the in dinner a just and holding bit the of seem little wanted more maybe suburban of being could Cabana influenced to of to be And you. which marketplace? Oh, both by of the nature in Taco concepts. I couple patterns, locations that up more improvement ask maybe talk specifically. terms about great. the about

Rich Stockinger

these say from what say, before. improvements would Again state we by I is guests our the getting rules foods enjoying in from consistent is nothing driven our the the a food by only and been -- at lagging past impact had seven anything oil and they're would we've negative new that of that but that, I back also again that are And and week, us. only well our we've seen But COVID-XX, in than industry. gas area away sales other is consistent with Houston. coming a beverage in new is to the having starting else do behind Texas. has by no being bit have as as again Houston alcoholic as days regarding promotions, just line Yeah. of again and you The lunchtime, not and might driven the know, hit

Nicole Miller

premise. kind mean, helpful. that maybe back very I the And basic company. thinking was brand. each level there's the Very, and a for Last a Okay. economics home-court strong public beginning advantage And were always story as to of was was unit the question, I this just it of

across you. vintage concepts top-tier performance and both bottom Or in would these the or understand single to trends across by there? you could I love are versus non-core just understand talk every versus tier? or Thank pulls So pushes let some comp somehow and literally us location? core

Rich Stockinger

The trends now Sure. pretty consistent. is right portfolio sales per much

know board. across are different in food than in down significantly. pretty the difference the down, the core say much So, of actions think at being portfolio. rental past, the taken and the than beverages now higher now this value core coming it's costs profitability got yearly And just believe that I leases' the in I here last are much in quarter. even are not increase of I the core -- had or the the margins you we is enhancement again, again with And am the schedules more here outside We've lowering said we in the would of regarding Taco, that assuming We've are latest as it's possibility the being are a because in -- on alcoholic guests great cost. food they margin than and

Antonio Taco, is well, again for a the So, said like is Houston is I most before and bit hurting little Dallas doing San improvement. showing

Nicole Miller

for you taking my questions. Thank

Rich Stockinger

Nicole. Thanks,


[Operator our now take Instructions] ahead. Vaccaro Please Raymond Brian from We will James. question from go next

Brian Vaccaro

Thanks seems to seemed And before if Pollo maybe but performance the afternoon. it at to it wanted start sales and on play that the could. April recover good I QX and bit we worsened seeing. about to industry to be seemed out starting as expected, lagging a broader recovery we're

something that's South worth get regional something may driven have specific in Florida or else to what your I'm highlighting. macro curious on just that maybe So, perspective or

Rich Stockinger

is Black well the were Pollo question. been Yes. or we're and Great as right bay right now. living quick-service not I'd below. as joined doing At level Box, there mind, We've doing. much happened, within South in in our to versus Keep market. pretty around it and people afraid before be this at poverty the ask the Florida what in of the is XX% you

So the just like the we've promotions. lower-cost, hard pushing these But pantry local than stores. lower We're things which are why the we're grocery introduced. lower-priced hard on pushing that's on prices

service. the service. than class. And not one in would quick not with I well local as menu mind say, area quick than doing our We're worse lot that competitors in doing keep we So, different also, are is a

more we and handheld service not. is quick do much So

are back. that a be of or as people those removed So, we've at dining people And platters lot to we the lessened, expect the without dining start restrictions come room, room lost will in coming those for the Pollo.

Brian Vaccaro

the guess some across Orlando, dynamics variable you follow-up mentioned, markets? other some perspective thinking give Florida perspective if has been perspective Rich, of I some about it compare you give And on quarter-to-date helpful. of you those regions? the South Tampa could how any a That's Okay. you give individual to on that. some Could just could you

Rich Stockinger

range I They're look top in there's if on difference give and around on we're the hasn't a region. you consistent significant there sales you of geographic South the and Central XX%. been line. no, can Florida right But being variance in Northern much terms Florida Florida, pretty down there and the close that. kind at got decline now working a We not XX%, of

Brian Vaccaro

delivery? also right. bit South could you particular? with you has thus wanted share off-premise, it seen ask Could said just which Uber Eats, little the All that share give Okay. also you a think I believe you've Pollo the more X.X%. pretty Tropical far was And a that what in dominant of I is to on Florida in traction I percent

Rich Stockinger

we number recently Grubhub Uber market just of into quarter. on signed have the a as now They first is in rolling South mind end they two. we Eats number one started been which And is partner all DSP our the you Eats have. Uber in Keep guided just is the in core Florida. And as know out. we

Grubhub of no. getting getting more is a we we our Is the expect to Eats the and as as that number to off-premise. it And want numbers Is now expect it which of in be? of competitors? high improve. we timing No. was number to as grow The answer on Uber again, and So, in it it is terms those high as I think two

Dirk Montgomery

due of a good accounting XX% total to of mix the calendar currently That's of little roughly right now, the year had the very skewed off-premise very at to for the momentum. conditions. We've terms of in XX% delivery in dollars. success off-premise the the strong And is end catering bit

get the normal that fourth the things that at we dramatically we've once catering expect quarter contribution improve, to because had end think traction great channel. of that back in will I

We that, online also is and Rich we in sales as expect dramatically Rocket. said by our the launch new Rocket should online app, which Bottle increase Bottle as supported

Brian Vaccaro

great. And last All one then for right. me. That's just

Or with color you back just that made maybe in have a difficult back? Are On decision an permanent the headquarters decisions obviously the on share a made, standpoint? that that that curious changes, of functions cuts, the but changes a you if other it And from had you've you cuts G&A structural you to you terms pare made very three just the permanent going opportunity could in still what there either from perhaps? personnel any you've make, or pare to is headquarters?

Dirk Montgomery


So from the across Obviously, my support the versus I And we we made and press we furloughs. focus $X.X needed estimated functions in mean that comments in of that activities. our maintain all board guest-facing cuts prepared of release, work the was annualized around all million support sure and in operations making to occasions. the million as $X.X savings terminations in roughly mentioned we

dimensions So the employees the no But – furlough and kind furloughed back. be separation. brought mix of of the those are will

the we – I And So various depend more on remainder as of fronts. comprising the various on furloughs permanent. million think the to depend is viewed $X.X would to be certainly is going going

Rich Stockinger

who a has from know, line a tend to I of the Governor we am great our New in Cuomo, taking job Brian You leader. done State as a every at of York business. look aspect

We of we world the New are the going not aspect the none overhead, forward. do way in business is call reimagining our what the new on York like. look but Because things knows just of phone going every to us or

we're look a a undertaking better not but every aspect into before, replacing find as and go method better try of business at we this did opportunity new just world. to our we the and So opportunity what

looking to ways business line. top specific bottom our we're to we have line not but at So and – plans, We're improve efficiency the more no come.

Brian Vaccaro

everyone's Understood. healthy. Certainly, unprecedented times. you stays again. and Thank well I hope

Rich Stockinger

Thank you.

too. You


session. today's concludes for I any closing additional would or back team the to management call like to turn remarks. the now That question-and-answer

Rich Stockinger

hard want I their to working for opportunity team very home safety front again, but loyalty, their human why for thank people our just passion, people much worth? from closing, not of are been our for that frontline that's in their members saying, the another every priceless. most And support, the and important the the difficult, work, we're There's the office how lines. In only is taking life who've a in employees. They're out

you shareholders So speaking members, to everyone. thank looking and next to quarter. Thank forward again thank to you you team again you to our our


and you disconnect. today's may for call. ladies gentlemen now participation your This you Thank concludes