taco jan 2016 investor presentation
TRANSCRIPT
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 1/33
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 2/33
2
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 3/33
3
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 4/33
•
•
•
4
•
•
•
•
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 5/33
(1) Based on unit count(2) Represents preliminary FY2015 sales data and unit counts as of December 29, 2015. Actual results for fiscal year 2015 are expected to be released in March 2016(3) Del Taco system-wide unit count as of December 29, 2015. Mexican QSR competitive unit counts / system-wide sales are from the Technomic Top 500 2015 report reflecting 2014 results
(1) Excludes one franchised restaurant in Guam.
5
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 6/33
6
•
•
•
•
••
•
•
(1) Source: The NPD Group/CREST, Q3, 2015.
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 7/337
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 8/33
Source: Company internal price survey of Southern California Taco Bell (n=20) and Chipotle (n=20) restaurants conducted in De cember 2015
Freshly grilled chicken, hand-slicedavocado, seasoned black beans,diced onions, and handmade pico degallo, served over fresca lime rice
Fire-grilled chicken, lettuce, guacamole,pico de gallo, avocado ranch dressing,cheddar cheese and cool sour cream, allserved with Latin rice and black beans
Freshly grilled chicken,choice of cilantro-lime rice,pinto or black beans, salsa,cheese and sour cream
Freshly grilled, marinated chicken,savory secret sauce, crisp lettuce,and freshly hand-grated cheddarcheese, in a warm flour tortilla
A warm, soft flour tortilla filledwith shredded chicken, toppedwith crisp lettuce and realcheddar cheese
Flour tortilla, choice ofcilantro-lime rice, pintoor black beans, grilledchicken, salsa and cheese
or sour cream
Fresh hand-sliced avocado, chickengrilled fresh in our restaurants,handmade pico de gallo salsa, salsacasera, fresca lime rice, and seasoned
black beans.
8
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 9/339
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 10/3310
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 11/33
Source: Weighted QSR averagesame store sales per NPD Group Sales Track Report.
11
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 12/3312
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 13/3313Check Average Sources: Average check data is from public company fili ngs (JACK and FRGI as of most recent Form 10-K) and Wall Street research for CMG and Taco Bell.
(1) Preliminary and unaudited(2) During fiscal 2015 the AUV for the top 33% company – operated restaurants in the comparable store base was ≥$1.5M with an average AUV of $1.72 million
(3) 90% of these company restaurants had a fiscal 2015 restaurant contribution margin of 21% or higher. Restaurant contribution is defined as company restaurant sales less company restaurant expenses. Restaurant contribution margin is defined asrestaurant contribution as a percentage of company restaurant sales
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 14/33
Source: AUV and Restaurant Contribution %: Benchmark data is from the most recent public company fili ngs (Jack, Zoes, YUM, Popeyes, Bojangles, and Taco Cabana),Taco Bell and Popeye’s data was deri ved from their fiscal 2014 10-K forcompany-owned restaurants only(1) Restaurant contribution is defined as company restaurant sales l ess company restaurant expenses. Restaurant contribution margin is defined as restaurant contribution as a percentage of company restaurant sales
14
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 15/3315
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 16/3316
(1) Del Taco Internal Guest Experience Survey, Top Box Rating Average Score
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 17/3317
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 18/3318
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 19/3319
(1) Del Taco Internal Attitudes & Usage Study, August 2015
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 20/3320
•
•
•
•
•
•
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 21/3321
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 22/3322
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 23/33
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 24/33
24
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 25/33
25(1) Based on internal analysis and a study prepared by a leading national consulting firm.
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 26/33
26
(1) Restaurant contribution is defined as company restaurant sales less company restaurant expenses. Restaurant contribution margin is defined as restaurant contribution as a percentage of company restaurant sales(2) Restaurant contribution margin percentage for new restaurants trends lower than our mature base due to market rental rates
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 27/33
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 28/33
28
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 29/33
29
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 30/33
30
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 31/33
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 32/33
(1)
8/20/2019 TACO Jan 2016 Investor Presentation
http://slidepdf.com/reader/full/taco-jan-2016-investor-presentation 33/33
INGREDIENT % OF PURCHASE
Taco Meat
(1) All 2015 results disclosed in this presentation are based on preliminary fiscal 2015 results, are unaudited, have not been reviewed