AFC Enterprises, Inc. (NASDAQ: AFCE), the franchisor and operator of Popeyes® Louisiana Kitchen restaurants, provided the following update on the effect of Hurricane Isaac on its operations.
Hurricane Isaac forced the temporary closure of 104 Popeyes restaurants for periods of approximately 1 to 5 days. All restaurants have reopened. Consistent with past experience, in the days preceding and following the storm, Popeyes restaurants in the region experienced strong sales volumes. The strong sales largely offset the effects of lost sales due to the temporary closures resulting in an aggregate reduction in the Company’s expected net income of less than $60,000.
Additionally, estimates of the storm damages to the net book value of assets at the 26 Company-operated restaurants in the New Orleans area total less than $200,000.
Ralph Bower, the president of Popeyes Louisiana Kitchen - US said, “I am proud of our crews and franchise partners in the region. They have incredible spirit. These teams have seen many storms over the years and they are well trained to respond swiftly in order to see that Popeyes’ leads the way on helping the region return to business as usual.”Corporate Profile AFC Enterprises, Inc. is the franchisor and operator of Popeyes® restaurants, the world's second-largest quick-service chicken restaurant concept based on number of units. As of July 8, 2012, Popeyes had 2,049 restaurants operating in the United States, Puerto Rico, Guam, the Cayman Islands and 25 foreign countries. AFC’s primary objective is to deliver industry-competitive growth in sales and profits by offering excellent investment opportunities in its Popeyes brand and providing exceptional support systems and services to its franchisee owners. AFC Enterprises can be found at www.afce.com.