News

Carrols Restaurant Group’s Burger King performance down in Q2

July 21, 2011

Syracuse, N.Y.-based Carrols Restaurant Group Inc., the largest Burger King franchisee based on number of restaurants, reported results from the second quarter 2011, ended July 3.

Carrols also reported revenues for Fiesta Restaurant Group Inc., an indirect wholly-owned subsidiary that operates the Pollo Tropical and Taco Cabana brands.

Total revenues for Carrols Restaurant Group in Q2 were approximately $209.8 million and increased 2.6 percent from the second quarter of 2010.

Restaurant sales for the company's Burger King restaurants decreased 5.2 percent to $88.6 million in Q2 with comparable restaurant sales decreasing 3.6 percent.

Burger King's drop was offset by total revenues for Fiesta Restaurant Group, which were $121.2 million, an increase of 9.2 percent from Q2 '10. Pollo Tropical revenues were up 12.5 percent to $52.6 million, including an increase in comparable restaurant sales of 10.7 percent. Taco Cabana revenues increased 6.9 percent to $68.6 million, including an increase in comparable restaurant sales of 4.5 percent.

During Q2, the company opened two Taco Cabana restaurants and closed one. It also acquired one Burger King unit and closed two.

Carrols Restaurant Group previously announced that it plans to spin-off Fiesta Restaurant Group as a separate public company by the end of this year. Carrols Restaurant Group also set Aug. 8 as the date for its next earnings release and conference call.