News

Popeyes same-store sales increase 6.2% globally, 6.3% domestically in 2014

Popeyes Louisiana Kitchen Inc. reported results for fiscal 2014 ended Dec. 28.

February 26, 2015

Popeyes Louisiana Kitchen Inc. reported results for fiscal 2014 ended Dec. 28. The Company also provided guidance for fiscal 2015 and an update on its long-term guidance.

Popeyes Chief Executive Officer Cheryl Bachelder said in a statement, "I want to take the opportunity to publicly thank our franchise owners, our restaurant teams, and our support center and field employees for the outstanding performance they achieved in 2014. Their efforts delivered industry leading global same-store sales growth of 6.2 percent and the opening of 201 new Popeyes restaurants. Looking ahead, our growth plans for 2015 remain strong, as evidenced by our guidance. Beyond 2015, we envision two investment areas that are intended to accelerate our unit economics and unit expansion - human capital and international. We believe these investments will yield excellent returns to our shareholders."

Fiscal 2014 Highlights

• Reported net income was $38.0 million, or $1.60 per diluted share.
• Adjusted earnings per diluted share were $1.65, compared to $1.43 in 2013, an increase of approximately 15 percent, consistent with previous guidance.

Same-store Sales:

Global same-store sales increased 6.2 percent in 2014, compared to a 3.7 percent increase last year, for a two-year growth of 9.9 percent.

Domestic same-store sales increased 6.3 percent, compared to 3.6 percent last year, the sixth consecutive year of positive same-store sales growth.
International same-store sales increased 5.1 percent, compared to 4.7 percent last year, the eighth consecutive year of positive same-store sales growth.

Popeyes domestic same-store sales have outpaced the chicken-QSR and the entire QSR categories for six consecutive years according to independent data.
Popeyes market share of the domestic chicken-QSR segment reached 23.2 percent for 2014, an increase from 20.8 percent in 2013.

Openings:

The Popeyes system opened 201 restaurants, which included 121 domestic and 80 international restaurants, compared to 194 total openings in the prior year.

Included in domestic openings in 2014 were 13 company-operated restaurants.

Net restaurant openings were 148, compared to 126 net restaurant openings last year.

The company’s webcast is available on its website for 90 days. At www.plki.com, select "Webcasts & Presentations" and Popeyes Louisiana Kitchen Inc. "Fourth Quarter 2014 Earnings Conference Call."