Restaurant company Brinker International EAT is the owner of restaurant chain Chili's Grill & Bar. The company's recently reported first-quarter results showed higher year-over-year sales.
Chili's may have tequila to thank for the increase in sales and for its business in general.
What Happened: Brinker International reported first-quarter revenue of $1.012 billion. Comparable sales were up 5.8% year-over-year in the quarter, leading to several price target increases from analysts.
Same-store sales for Chili's were up 6.1% year-over-year in the first quarter.
People who go to Chili's likely go there for a variety of menu items. However, there's one signature item that they might be most well-known for — margaritas.
Brinker CEO Kevin Hochman shared how much tequila Chili's buys each year to make its signature margaritas.
"If Chili's were a country, we'd be the third-largest buyer of tequila. The U.S., Mexico, Chili's," Hochman said at the Global Restaurant Leadership.
Restaurant Business Magazine Editor-in-Chief Jonathan Maze shared the fun fact on X. Chili's Twitter account also took note.
"That's our president," Chili's tweeted.
Related Link: Patron Founder John Paul DeJoria Knew Nothing About Alcohol At Launch, Company Sold For $5.1 Billion Years Later
Why It's Important: According to Restaurant Business Magazine, Chili's is the top seller of margaritas in the U.S.
The company celebrates margaritas so much that it considers the drink one of its "core four" items. The other staples include burgers, fajitas and Chicken Crispers.
Hochman said the company is looking to "get back to the basics" of why people choose casual dining restaurants.
For patrons of Chili's, some might choose the restaurant because of margaritas.
Brinker is guiding for revenue of $4.27 billion to $4.35 billion for fiscal 2024. Earnings per share in a range of $3.35 to $3.65.
Read Next: Brinker International Playbook For Chili’s ‘Mirrors’ Olive Garden, Popeyes, KFC: Analyst
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