Popeyes Louisiana Kitchen Inc. reported Wednesday a 10.9-percent increase in net income for the April 20-ended first quarter.
The Atlanta-based quick-service operator increased its same-store sale guidance for the remainder of the year, to a range of 3 percent to 4 percent, from an earlier forecast of 2 percent to 3 percent.
"We are excited about the growth Popeyes is experiencing, and so are our franchisees,” said Cheryl Bachelder, Popeyes’ chief executive. “Our momentum continued with 27 new restaurants added to our system this quarter, on top of the 194 restaurants opened in 2013.”
Popeyes ended the quarter with 2,248 restaurants in the United States, three U.S. territories and 27 other countries.
1Q NET INCOME
Result: $11.1 million, or 46 cents per share% Increase: 10.9% (from $9.6 million, or 40 cents per share)
1Q REVENUE
Result: $70.1 million% Increase: 16% (from $60.4 million)
1Q SAME-STORE SALES
% Increase at global units: 4.5%
% Increase at domestic units: 4.3%
% Increase at international units: 5.8%
Source: Company report
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