News

Popeyes' preliminary '13 results include 3.7 percent jump in same-store sales

January 13, 2014

Popeyes' parent company AFC Enterprises Inc. reported selected unaudited results for its fiscal fourth quarter and fiscal year which ended Dec. 29. They include a global same-store sales increase of 3.7 percent.

Two-year global same-store sales growth was 10.6 percent.

"We are very pleased with our performance for fiscal 2013. Popeyes' sustained market share growth and increased restaurant profitability continue to inspire new restaurant openings. The Popeyes system opened more new restaurants in 2013 than in any single year in the last 15 years. The energy and hard work of our franchisees and employees provide the foundation of our 13 to 15-percent long-term earnings growth plan," AFC Enterprises CEO Cheryl Bachelder said in a news release.

Also during FY '13, Popeyes' opened 126 net restaurants globally, above its previous guidance of 100 to 120, and surpassing the 66 net openings in 2012. Global same-store sales increased 0.8 percent in Q4, rolling over a 6.2-percent increase last year.

The company expects final general and administrative expenses for fiscal 2013 to be approximately $73.5 million. The company's previous guidance was $74 to $75 million at approximately 3 percent of systemwide sales.

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