=Zoe's Kitchen (ZOES) reported earnings on Thur 24 May 18 (a/h)

Zoe's Kitchen misses by $0.11, misses on revs; lowers FY18 revs guidance, below consensus 

• Reports Q1 (Mar) loss of $0.13 per share, excluding non-recurring items, $0.11 worse thanthe Capital IQ Consensus of ($0.02); revenues rose 12.7% year/year to $102.1 mln vs the $104.75 mln Capital IQ Consensus. Comparable restaurant sales of negative 2.0% to negative 4.0% (revised from flat to 2.0%).
• Co lowers guidance for FY18, sees FY18 revs of $345-352 mln vs. $360.81 mln Capital IQ Consensus Estimate, down from $358-368 mln
• "The Company is initiating certain strategic actions to improve operations and financial performance. The full financial impact of these actions has not yet been determined and is not currently included in the Company's revised outlook. These actions will include slowing new unit growth, evaluating under-performing restaurants, reducing general and administrative expenses, and increasing marketing and technology investments. These actions will likely have a material impact to our financial statements in fiscal year 2018."