Brinker International’s (EAT) stock has fallen after going up over 4% after the parent company of Chili’s said comparable store sales are improving in the fourth quarter.

Brinker has provided an update on its fourth quarter and fiscal 2016 outlook and as well outlined some of its financial forecasts for fiscal 2017, ahead of its Investor Day that was scheduled to be held on Jun 9.

Brinker International stock is advanced 4.54% to $47.22 on heavy trading volume on Thursday afternoon the 9th of June after the Dallas-based restaurant operator provided updates on its fiscal 2016 fourth quarter sales. However, after the spike, the stock fell 1.21% the next day on Friday when the trading closed.

Brinker primarily engages in the ownership, operation, development and franchising of various restaurant brands under the names Chili’s Grill & Bar and Maggiano’s Little Italy.

Brinker continues to anticipate comps to improve sequentially in the fiscal fourth quarter but not return to positive territory yet. Notably, in third-quarter fiscal 2016, comps declined 3.6%, majorly because of a 4.1% drop in Chili’s franchised restaurants comps.

As of Jun 2, Brinker witnessed a 2% decline in comps on a quarter-to-date basis. This includes a 2% and 1.5% decrease in Chili’s and Maggiano’s restaurants, respectively. Notably, the quarter-to-date comps figures signify an increase of 160 basis points, from the number reported in the third quarter. Brinker primarily engages in the ownership, operation, development and franchising of various restaurant brands under the names Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy.

Brinker continues to anticipate comps to improve sequentially in the fiscal fourth quarter but not return to positive territory yet. Notably, in third-quarter fiscal 2016, comps declined 3.6%, majorly because of a 4.1% drop in Chili’s franchised restaurants comps.

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Although still negative, fourth quarter comparable store sales improved by 160 basis points from the 3.6% decline for the fiscal third quarter.

For the 2016 fiscal year, Brinker anticipates reporting earnings at the low end of its guidance of $3.55 to $3.65 per share. The figure would be above Wall Street estimates for earnings of $3.53 per share.

Additionally, Brinker set its 2017 fiscal year earnings outlook at $3.40 to $3.50 per share, in line with projections of $3.47 per share. Comparable store sales are expected to increase 0.5% to 2% during the next fiscal year. Meanwhile, capital expenditures are anticipated in $110–$120 million band.

The company will report its full fiscal fourth quarter financial report on August 11. Yesterday, 1.42 million shares of Brinker were traded, compared with its average daily volume of 1.22 million shares. Notably, the company plans to provide a full comprehensive guidance for fiscal 2017, when it reports fiscal fourth-quarter earnings on Aug 11, 2016.

So far, the company is content with the growth of its brands and plans to shed more light at its investor day on several initiatives to boost comp sales and market share in fiscal 2017 and beyond

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Sales-building initiatives undertaken by the company, such as menu innovation, extensive re imaging, better food presentation, kitchen system optimization and introduction of a better service platform should continue to drive revenues for this company despite the comps decline.