AFC Enterprises Inc., parent company of Popeyes restaurants, today reported selected unaudited results for its fiscal fourth quarter and fiscal year which ended Dec. 30, 2012.
Global same-store sales increased 6 percent in Q4, on top of a 5.8-percent increase last year. For the full year, global same-store sales increased 6.8 percent, compared to a 3.1 percent increase in 2011, exceeding the company's previous guidance of positive 6 to 6.5 percent.
During the fourth quarter, the Popeyes system opened 42 domestic and 20 international restaurants, bringing full year 2012 openings to 141 restaurants, compared to 140 restaurants last year.
The Popeyes system permanently closed 75 restaurants in fiscal 2012, resulting in net unit growth of 66 restaurants, compared to 65 net restaurants in 2011.
The company expects final general and administrative expenses for fiscal 2012 will be approximately $67.6 million, or approximately 3.0 percent of system-wide sales.
"We had a great finish to an excellent year. The results are the product of each team member's execution of Popeyes' strategic plan. We view 2012 results as a step toward our bold goals of doubling the size of Popeyes' domestic system and emerging as a successful international QSR brand," said CEO Cheryl Bachelder.
Read more about operations management.