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Rubio's Menu Sparks Growth

CARLSBAD, CA-A revised set of offerings generates higher comps for the QSR Mexican chain.

By Dees Stribling | Updated on March 16, 2005

CARLSBAD, CA-Rubio’s, a western U.S. restaurant chain that styles itself as part of the “affordable fast casual fresh Mexican grill” segment, turned in increases in both its fiscal Q4 comp-store sales and comps for the year 2004, ended Dec. 26. Comps for Q4 were up 3.2% compared with the same period in the previous year, coming on top of comp increases of 5.7% in Q2 and 4.1% in Q3 compared with their respective year-before periods. 2004 comp-store sales were up 4.3% over 2003.

Net income for the company in Q4 2004 was $272,000, compared to net income of $180,000 in the fourth quarter 2003. Net income for fiscal 2004 was $3 million, compared to a net loss of $2.4 million in 2003.

The company attributes much of the year’s success to the introduction of a new menu last summer. “In June 2004, we rolled out the ‘Fresh and Affordable Menu,’ ” said Sheri Miksa, president and CEO of the chain, during its earnings conference call on Wednesday. “ We believed then, as we still do, that traditional fast-food eaters are looking for opportunities to trade up to more healthful, fresher food at affordable prices. And the fast-casual dining users are continuing to seek distinctive food served in a fun atmosphere. The focus on the menu was to make Rubio’s food accessible to more people, and to drive frequency by making our products more affordable.”

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