Brinker Outlines Growth Strategy, Plans 30 New Locations Annually by FY29

Dow Jones09-17

Brinker International has set a new multiyear strategy targeting double-digit annual adjusted earnings growth and 4%-to-6% annual revenue expansion.

The parent company of Chili's Grill & Bar and Maggiano's Little Italy said Thursday as part of its investor day that its new targets are based on the company's execution to date, strong momentum and potential future growth.

Through fiscal 2029, the company is setting its 4%-to-6% annual revenue growth targets, backed by 2%-to-3% unit growth as the company ramps up development to 30 new restaurants added every year.

While the company didn't provide specific dollar figures for adjusted earnings per share, Brinker said it is targeting double-digit annual percent growth for the figure.

For shareholders, the company is planning to repurchase 3% to 5% of its common shares annually.

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