Popeyes' parent company reports loss

AFC Enterprises, the parent company of the Popeyes chicken chain, reported Wednesday that first-quarter net income fell 22 percent to $5 million, but the company raised its expectations for the year based on favorable response to new value offerings.

Global same-store sales rose 0.2 percent in the first quarter, compared to a 1.3 percent decrease in the same quarter a year-ago. Same-store sales, a key measure for restaurants, tracks only sales at outlets already open the year before.

AFC now projects global same-store sales for 2009 to be between negative 1 percent and positive 1 percent. It previously projected a decline of 1 percent to 3 percent. The company said it saw positive results from promotions. In May, for example, Popeyes featured a 2-piece Louisiana Tenders meal for $2.99 and nine pieces of bone-in chicken or nine tenders for $7.99.

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