AFC Enterprises key 4Q sales figure declines
From AP News | 2010-01-11 13:14:57
<div id="subtitle">AFC Enterprises key 4th-quarter sales figure dips less than prior-year period results</div><div><p>AFC Enterprises Inc., franchisor and operator of Popeyes restaurants, said Monday that a key sales figure declined less in the fourth quarter than the prior-year period on better pricing.</p><p>Casual dining operators have tried to entice consumers during the recession by offering more value-oriented menu options, as many consumers have chosen to eat at home more in an effort to save money.</p><p>AFC said global sales at restaurants open at least a year dipped 1 percent in the quarter compared with a 2.1 percent decline a year ago.</p><p>Sales at domestic restaurants open at least a year also fell 1 percent in the quarter ended Dec. 27. AFC posted a 2.8 percent decline in this category a year earlier.</p><p>The overseas sales figure edged down 0.8 percent in the quarter, compared with a 4.1 percent increase in the prior-year period.</p><p>Sales at restaurants open at least a year are a key indicator of a restaurant operator's performance since they measure growth at existing restaurants rather than newly opened ones.</p><p>For fiscal 2009, global sales at restaurants open at least a year edged up 0.7 percent, within range of AFC's outlook for sales to be at the lower end of flat to up 2 percent.</p><p>The company opened 44 new Popeyes locations in the quarter, with 95 total openings in the fiscal year. It closed 81 restaurants during fiscal 2009.</p><p>Popeyes had 1,943 restaurants at fiscal 2009's end.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=66698693&bid=informcom" /></div><div id="copyright"><div>
Copyright 2010 <a href="http://www.ap.org">AP News</a></div></div>
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