Hurricane Isaac forced the temporary closure of 104 Popeyes restaurants for periods of approximately 1 to 5 days. All restaurants have since reopened.
Consistent with past experience, in the days preceding and following the storm, Popeyes restaurants in the region experienced strong sales volumes. The strong sales largely offset the effects of lost sales due to the temporary closures resulting in an aggregate reduction in the company's expected net income of less than $60,000.
Additionally, estimates of the storm damages to the net book value of assets at the 26 company-operated restaurants in the New Orleans area total less than $200,000.
"I am proud of our crews and franchise partners in the region. They have incredible spirit. These teams have seen many storms over the years and they are well trained to respond swiftly in order to see that Popeyes' leads the way on helping the region return to business as usual," said Ralph Bower, president of Popeyes Louisiana Kitchen U.S.
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