New York CNN —
Chili’s is on fire.
Chili’s sales at restaurants open for at least a year increased a whopping 31% last quarter. It was Chili’s third-straight quarter of double-digit sales growth, and the results drove parent company Brinker International’s (EAT) stock up 16% on Wednesday.
The restaurant chain’s growth was fueled by more customers visiting restaurants — not Chili’s raising prices. Foot traffic to Chili’s increased 20% last quarter, the company said.
Analysts gushed over Chili’s results on an earnings call, offering congratulations to the company 11 times. One analyst
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