Zoe's Kitchen Provides Preliminary Q2 Estimates; Begins Public Offering

(RTTNews) - Zoe's Kitchen, Inc. (ZOES) estimates that its income from operations will be between $1.4 million and $1.6 million for the twelve weeks ended July 14, 2014, and loss from operations will be between $4.9 million and $5.1 million for the twenty-eight weeks ended July 14, 2014.

The company expects that total revenue will range between $41.6 million and $41.8 million for the twelve weeks ended July 14, 2014, and between $87.9 million and $88.1 million for the twenty-eight weeks ended July 14, 2014.

Comparable restaurant sales are estimated to have increased between 7.3% and 7.5% for the twelve weeks ended July 14, 2014, and between 6.4% and 6.5% for the twenty-eight weeks ended July 14, 2014.

The Company expects to release financial and operating results for its twelve-week period ended July 14, 2014 on or around August 28, 2014.

In a separate press release, Zoe's Kitchen announced that it has commenced a proposed public offering of its common stock. In the Offering, the company and certain of the Company's stockholders intend to offer 4 million shares of common stock. Certain of the Company's stockholders intend to grant the underwriters the option to purchase up to 600,000 additional shares of common stock.

All of the shares in the Offering are being offered by selling stockholders, except for up to approximately 94,100 shares being offered by the Company, the proceeds of which will be used by the Company to repurchase the same number of shares from certain of its officers.