Business
Business

Popeyes same-store sales nearly flat for third quarter

By Joe Guy Collier
Nov 12, 2009

AFC Enterprises, the parent company of Popeyes, reported Thursday that global same-store sales fell 0.3 percent in the third quarter, as national advertising and value offerings helped offset a tough market for restaurants.

Atlanta-based AFC had third-quarter revenues of $31.9 million, compared to $38.3 million in the same period last year. The decline was due primarily to re-franchising 27 stores in the Atlanta and Nashville markets that were previously owned by the company.

AFC posted third-quarter net income of $3.4 million, or 13 cents a share, compared to $4 million, or 16 cents a share, in the same quarter last year.

The company said it took $1.9 million in charges in the most recent quarter for changes to a revolving credit and loan agreement. Excluding those charges, AFC said it would have earned 18 cents per share.

About the Author

Joe Guy Collier
More Stories

Keep Reading

Although Leonardo DiCaprio is the star of "One Battle After Another," there is a character and key scene written just for one of SCAD's leaders. (Jordan Strauss/Invision/AP)

Credit: Jordan Strauss/Invision/AP

SCAD film leader explains how he landed role in ‘One Battle After Another’

D.W. Moffett said his time working on the film "One Battle After Another" was a treasure trove of new experiences he brought back to the classroom.

14m ago

See video police say shows ex-PSC candidate Durand take Georgia Power secrets

Patty Durand has long criticized Georgia Power for concealing information under the cloak of trade secret about various initiatives and requests of state regulators.

Shake Shack takes a bite out of Atlanta and it’s more than just restaurants

Shake Shack this month opened an office at The Battery Atlanta in Cobb County, where it will house 100 workers.

The Latest

Stellantis plans to open a 422,000-square-foot Mopar Parts Distribution Center in Forsyth, about 60 miles south of Atlanta. (Courtesy of Stellantis)

Credit: Courtesy of Stellantis

Stellantis car parts facility planned for Georgia could mean quicker repairs

Why are Subarus so popular?

OPINION

Is this the Corvette of the future?

Featured

(Photo Illustration: Philip Robibero | Sources: Hyosub Shin for AJC, Unsplash)

Credit: Philip Robibero / AJC

THE FUTURE OF MARTA

Riding the color line: How race built Atlanta’s MARTA system

MARTA’s routes, reach and reputation were defined as much by race as by ridership, leaving a legacy of inequity that still shapes how Atlantans move — or don’t move.

Rivian layoffs to hit hundreds, but Georgia impacts expected to be small

The company is looking to reduce costs as it prepares to start production of its R2 crossover, which Rivian has said will eventually be built at its planned Georgia plant.

Bert Weiss shares his 6 favorite ‘Bert Show’ moments: Six Flags, Mariah Carey

Bert Weiss revisited some of the big moments in the early days of "The Bert Show" including incidents with Usher, Mariah Carey and Six Flags Over Georgia.