The ambitious expansion strategy comes on the wings of stellar annual sales.
, bringing in over $3.7 billion in revenue, which makes it the fourth largest casual-dining chain in the country, behind Olive Garden , Applebee's , and Buffalo Wild Wings . In fact, the chicken wing chain just barely beat out the steakhouse for the third spot, even though it boasts more than double the footprint at 1,212 locations.Texas Roadhouse was able to generate average unit volumes of over $6 million, which are the highest in the casual-dining segment, according to.
Another factor that bodes well for Texas Roadhouse: Both Applebee's and Olive Garden have slowed down national expansion efforts in recent years. While the Roadhouse has seen its U.S. location count increase by 23% since 2016, Applebee's shrunk by 15%, while Olive Garden saw a modest increase of 4.3%.? Smaller markets. Founded in 1993, the steakhouse brand originally focused on medium-sized cities and metropolitan areas.
"We changed that number because we do see the upside, and the success in some of the smaller communities that we've been able to go in really allowed us to up that number," CEO Jerry Morgan said of the more ambitious growth plans during an earnings call last week."If we continue to do it right and all the world works with us, we think that we can get to that number."
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