Popeyes on growing sales, franchisee relations

Staff Writer
Popeyes on growing sales, franchisee relations

Fueled by improvement in key metrics and growing franchisee confidence, Popeyes Louisiana Kitchen is tracking favorably with its long-term growth plans, officials of parent AFC Enterprises Inc. said today.

Cheryl A. Bachelder, AFC chief executive and president, and H. Melville Hope, the company’s senior vice president and chief financial officer, gave that news to analysts on a conference call Thursday covering results for the third quarter, which were released Wednesday.

Bachelder also spoke separately with NRN about results for the quarter that saw global systemwide sales climb 5.5 percent to $450.6 million.

Before recapping quarterly and year to date results, Bachelder told analysts, “Our culinary innovations and Bonafide [bone-in] chicken promotions continue to resonate with our guests in our restaurants.”

Popeyes’ menu additions most recently have included boneless and portable limited-time chicken products like Wicked Chicken and Rip’n Chick’, as well as the ongoing Dip ’n Chick’n promotion.

AFC said Wednesday said that third-quarter net income totaled $5.8 million, or 24 cents a share, compared with $5.9 million, or 23 cents a share in the same 2010 quarter.

Revenue rose 3.8 percent to $35.4 million, on flat company-owned restaurant sales of $12.3 million and a 6.7-percent increase in franchising revenue, to $22.2 million.