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Burger King marks 20 quarters of positive comps
February 4, 2009
MIAMI — Comparable-store sales at Burger King restaurants in the United States and Canada grew 1.9 percent for the company's second quarter ended Dec. 31 and 2.4 percent for the year to date, the company has announced. Comp increases were fueled in part by strategic pricing initiatives as well as product promotions, such as the Mushroom ‘N' Swiss Steakhouse Burger limited time offer, the introduction of the new BK Kids Meal and the kick-off of the Whopper Virgins marketing campaign.
Comparable-store sales for the company's restaurants in Latin America grew 4.1 percent for the quarter and 4.6 percent for the year to date. Worldwide, comps were up 2.9 percent, the 20tth consecutive quarter of worldwide positive comps and the company's best positive comp sales trend in three decades.
Revenues for the quarter were $634 million, up 3 percent compares with revenues of $613 million for the second quarter of 2007. Year-to-date revenues were $1.31 billion, up 7 percent compared with revenues of $1.22 billion for the first six months of last year.
Net income for the quarter was $44 million, off 10 percent compared with net income of $49 million for the 2007 second quarter. Year-to-date net income was $94 million, off 4 percent compared with net income of $98 million for the first six months of last year.
Burger King is projecting full-year earnings per share of $1.44 - $1.49.
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