El Pollo Loco Posts 80% Drop in Profits
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IRVINE — El Pollo Loco, an Irvine-based unit of TW Holdings in Spartanburg, S.C., reported that its earnings slipped 80% last year, to $1.8 million from $8.7 million in 1990.
The Mexican-style charbroiled chicken chain reported sales of $101 million, down 3.8% from $105 million the year before.
For the fourth quarter, El Pollo Loco said, its operating profits fell 68%, to $630,000 from $1.9 million in 1990. Sales declined 3.4%, to $24.5 million from $25.3 million in 1990.
The company said that the introduction of lower-priced menu items brought in more customers but reduced average bills.
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