Popeyes Louisiana Kitchen Inc. upgraded its outlook for the year Wednesday after reporting a 6-percent increase in global same-store sales for the third quarter.
The increase comes in addition to a 7.3-percent increase in the third quarter of 2014, for a two-year increase of 13.7 percent, the company noted.
Domestic same-store sales for the third quarter ended Oct. 4 increased 5.6 percent, and international same-store sales climbed 9.1 percent.
“We are pleased to report another quarter of strong sales and earnings. Our combination of innovative menu offerings, media and messaging delivered global-same-store sales of 6 percent and continued market share gains,” Cheryl Bachelder, Popeyes CEO, said in a statement. “Going forward, increasing cash flows give us the opportunity to invest in key organic growth strategies, including people initiatives, technology and international expansion.”
Net income for the quarter was $10.6 million, or 46 cents per share, compared with $9.8 million, or 42 cents per share, a year ago.
Revenue increased about 11 percent, to $61.1 million.
The company expects same-store sales for the full year to be between 5 percent and 5.5 percent, an increase from previous guidance of 4.5 percent to 5.5 percent.
Popeyes said the chain has increased its domestic market share of the quick-service chicken category to 26 percent, compared with 23.7 percent a year ago.
The Atlanta-based chain ended the quarter with 2,475 restaurants, most of which are franchised.
For fiscal 2015, the company expects to add between 200 to 225 units, including 85 to 95 international locations.
Contact Lisa Jennings at [email protected].
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