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Popeyes post 'strong quarter'

Popeyes Louisiana Kitchen Inc. reported results for its Q1 2015, ended April 19, 2015.

May 28, 2015

Popeyes Louisiana Kitchen Inc. reported results for its Q1 2015, ended April 19, 2015, the company announced.

"Popeyes delivered another strong quarter. These results were driven by our menu innovation with Louisiana-inspired food, our compelling messaging and increasing media weights. Our five pillar strategic roadmap, coupled with excellence in execution, continues to deliver consistent results quarter after quarter. The strength and reliability of our performance gives us confidence in our organic growth opportunities, which include investments in human capital and international expansion," said Popeyes' Chief Executive Officer Cheryl Bachelder in a statement.

The company's reported net income was $13.6 million, or $0.58 per diluted share, compared to $11.1 million, or $0.46 per diluted share in 2014. Adjusted earnings per diluted share were $0.58, compared to $0.46 the previous year, representing an increase of 26.1 percent.

Global same-store sales increased 7.0 percent this year compared to a 4.5 percent increase in 2014 for a two-year compounded growth rate of 11.8 percent. Popeyes' attributed its growth to continued menu innovation, expanded relevant advertising and strengthened restaurant execution.

Total domestic same-store sales increased 7.1 percent, compared to a 4.3 percent increase the year prior, for a two-year compounded growth rate of 11.7 percent.

International same-store sales increased 6.1 percent, compared to a 5.8 percent in 2014, for a two year compounded growth rate of 12.3 percent.

The company expects global same-store sales growth to range of 3.5 percent to 4.5 percent, representing a two-year trend of 11 percent across the year.