Popeyes achieves positive Q2 results
Domestic and international same-store sales performance was strong.
AFC Enterprises Inc., the franchisor and operator of Popeyes, reported that its net income of $6.4 million for the second quarter ended July 12, compared with $6.6 million last year. Excluding the impact from other non-operating incomes, net income was $4.7 million compared to $4.3 million last year.
System-wide sales increased by 4.9% compared to an increase of 1.5% last year. Domestic same-store sales increased 4.3% compared to a decrease of 1.7% last year. International same-store sales rose 3.9% compared with 1.7% last year.
Year-to-date, AFC generated $14.7 million of free cash flow. Total revenues were $35.7 million compared with $39.3 million last year.
The company has also amended its 2005 credit facility, extending the maturity dates for the revolving credit and the term loans for two years to May 2012 and May 2013, respectively.