AFC Enterprises 4Q preview reveals rising sales

Popeyes parent company AFC Enterprises Inc. revealed rising sales for its fourth quarter and fiscal year 2012 in an earnings preview released Wednesday.

In the preliminary report, Atlanta-based AFC Enterprises cited a systemwide same-store sales increase of 6.8 percent for the fiscal year 2012, compared with a 3.1-percent increase in global same-store sales in the year-earlier period.

During the year, same-stores sales increased 5.3 percent at company-owned Popeyes locations, 7.5 percent at domestic franchised locations, and 2.4 percent at international franchised restaurants.

During the fourth quarter ended Dec. 30, systemwide same-store sales increased 6 percent.

The company saw same-store sales increase 7.8 percent at company-owned restaurants alongside a 6.3-percent jump in same-store sales at Popeyes’ domestic franchise locations. Same-store sales grew 3.5 percent at the company’s international franchised locations during the same period.

The company opened 141 new Popeyes restaurants during 2012 and closed 75 locations, bringing the year’s net unit growth to 66. In 2011, the company opened a net of 65 units.

“We view 2012 results as a step toward our bold goals of doubling the size of Popeyes’ domestic system and emerging as a successful international QSR brand,” said Popeyes chief executive Cheryl Bachelder in a statement.

The company expects that earnings per share in fiscal 2012 will be adjusted to $1.23-$1.24 per share to include a 53rd operating week for a 27-percent increase from $0.97 adjusted earnings per share in 2011.

Based on number of units, Popeyes is the second-largest quick-service chicken restaurant chain in the world. As of Dec. 30, 2012, the company had 2,104 locations worldwide, 2,059 of which are franchised.

The company plans to announce its official fourth-quarter and full-year 2012 earnings results by March 15.

Contact Erin Dostal at [email protected].
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