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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV