Chuy's (CHUY), a Tex-Mex chain with locations primarily in the Midwest and Southeast, has fallen just over 50% from its November high, but the company looks well positioned to handle the coronavirus outbreak from a balance sheet standpoint, transitioning to delivery, with no debt and a solid balance of cash on hand. Revenues had still grown steadily, but YoY growth has fallen consistently, and net margins have shrunk.
Coronavirus Changes to Business Model
In response to the coronavirus outbreak, Chuy's "increased its cash position by drawing down the $25 million balance under its revolving