Popeyes comp sales climb 7.9%

Domestic same-store sales at Popeyes Louisiana Kitchen Inc. increased 7.9 percent during the second quarter, largely the result of menu innovation and expanded brand advertising, the quick-service chicken company said Thursday.

This comp-sales increase was more than 4 percentage points higher than the increase experienced during the year ago quarter, representing a compounded growth rate of 12 percent over the last two years, Popeyes said.

The company’s net income for the quarter increased 25 percent, to $10.3 million.

Based on its Q2 performance, Popeyes raised its guidance for the remainder of the fiscal year, projecting comp-sales growth in the range of 4.5 percent to 5 percent, up from the 3.5 percent to 4.5 percent it previously anticipated.

“Popeyes robust second-quarter results demonstrate our focused execution against the five pillars of our strategic roadmap,” said Popeyes CEO Cheryl Bachelder. “Looking forward, we believe there is along runway for continued growth of Popeyes, both in the U.S. and around the globe.”

Popeye’s opened 18 new domestic locations during Q2, all but one of which are franchised. Four domestic units were closed during the same period.
 

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