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Popeyes Louisiana Kitchen's sales increase in Q4

Popeyes Louisiana Kitchen Inc, the franchisor and operator of Popeyes restaurants, has reported selected unaudited results for its fiscal fourth quarter and fiscal year. Global same-store sales increased 2.8 percent in the fourth quarter.

January 13, 2016

Popeyes Louisiana Kitchen Inc, the franchisor and operator of Popeyes restaurants, has reported selected unaudited results for its fiscal fourth quarter and fiscal year, which ended Dec. 27, 2015. Global same-store sales increased 2.8 percent in the fourth quarter, rolling over a 9.8-percent increase last year, according to a company press release. For the full year, global same-store sales increased 5.9 percent. Annual compounded two-year global same-store sales growth was 12.5 percent.

 "The consistent execution against our strategies delivered exciting results in 2015," said Popeyes CEO Cheryl Bachelder stated. "Our combination of menu innovation, media and messaging resulted in impressive global same-store sales growth of 5.9% for 2015. We also continued expansion of our global footprint with the opening of 219 new Popeyes' restaurants, a new milestone for the Popeyes system. Our restaurant teams, franchisee owners and support center employees continue to serve our shareholders with strong market share growth and consistent financial performance."

During the fourth quarter, the Popeyes' system opened 54 domestic and 28 international restaurants, bringing full-year 2015 openings to 219 restaurants, compared to 201 restaurants last year, th release stated. The Popeyes system permanently closed 53 restaurants in fiscal 2015, resulting in net unit growth of 166 restaurants, compared to 148 net restaurants in 2014.

Based on its fourth-quarter sales and store opening performance, the company now expects fiscal 2015 reported earnings per diluted share (EPS) will be $1.89 to $1.91. Adjusted earnings per diluted share are expected to be $1.89 to $1.91, compared to $1.65 in fiscal 2014, an increase of approximately 15 percent. The company's previous guidance for adjusted EPS was $1.86 to $1.91.