El Pollo Loco Plunges After Lowering Sales Forecast for 2015

Updated on

El Pollo Loco Holdings Inc., a chain of chicken restaurants, tumbled the most since its 2014 trading debut after saying sales this year would rise at the low end of its forecasted range.

El Pollo Loco fell 21 percent to close at $14.56 in New York after the forecast was released following the close of regular trading on Thursday. It was the biggest intraday drop for the company since its IPO in July 2014. With Friday’s slide, the shares are now down 27 percent this year.

Comparable-store sales this year will rise about 3 percent, compared with its previous forecast for a gain of 3 percent to 5 percent, the Irvine, California-based company said Thursday in a statement.

El Pollo Loco also said it would open three fewer franchised restaurants this year than it expected.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE