Carrols Restaurant Group sees Q3 profits grow

Net income at Carrols Restaurant Group increased during the third quarter as promotional campaigns drove sales and easing beef costs relieved commodity pressure, Burger King’s largest franchisee said Tuesday.

The company saw profits grow to $7.2 million, up from a $1.7 net loss during the year-ago quarter.

Comp sales at Carrols’ Burger King units increased 6.5 percent during Q3, rising on higher check average and a 4 percent increase in customer traffic year over year.

"We were quite pleased with our financial performance for the quarter,” Carrols CEO Daniel Accordino said in a statement. “Our third quarter results included double-digit growth in restaurant sales, a solid 6.5% increase in comparable restaurant sales, along with substantial improvements in profitability as we successfully leveraged these top-line gains.”

Restaurant remodels and acquisitions also played a role in that growth, he said, noting that the company had purchased 15 restaurants so far in 2015 and planned to complete as many as 95 remodels by year’s end.

As of Sept. 27, Carrols operated 660 Burger King units.


More from our partners