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AFC Enterprises Reports Preliminary Fiscal 2012 Operating Results; Expected To Beat Prior Fiscal 2012 Earnings Guidance

Stocks in this article: AFCE

AFC Enterprises Chief Executive Officer Cheryl Bachelder stated “We had a great finish to an excellent year. The results are the product of each team member’s execution of Popeyes’ strategic plan. We view 2012 results as a step toward our bold goals of doubling the size of Popeyes’ domestic system and emerging as a successful international QSR brand.”

Management will provide fiscal 2013 guidance concurrent with the filing of the Company’s 2012 Annual Report on Form 10-K, which is due to be filed no later than March 15, 2013.

Corporate Profile

AFC Enterprises, Inc. is the franchisor and operator of Popeyes® restaurants, the world's second-largest Quick-Service Restaurant (“QSR”) chicken concept based on number of units. As of December 30, 2012, Popeyes had 2,104 operating restaurants in the United States, 3 territories, and 26 foreign countries. AFC’s primary objective is to deliver sales and profits by offering excellent investment opportunities in its Popeyes brand and providing exceptional franchisee support systems and services to its owners. AFC Enterprises can be found at www.afce.com.

  12 Weeks ended     Fiscal Year
12/30/12     12/25/11   12/30/12     12/25/11
Same-store sales growth
Company-operated restaurants 7.8 % (1.5 %) 5.3 % 1.1 %
Domestic franchised restaurants 6.3 % 6.2 % 7.5 % 3.1 %
Total domestic (company-operated and franchised restaurants) 6.4 % 5.9 % 7.5 % 3.0 %
International franchised restaurants 3.5 % 4.6 % 2.4 % 3.3 %
Total global system 6.0 % 5.8 % 6.8 % 3.1 %
 
Company-operated restaurants (all domestic)
Restaurants at beginning of period 40 38 40 38
New restaurant openings 5 2 5 2
Permanent closings - - - -
Temporary (closings)/re-openings, net -   -   -   -  
Restaurants at end of period 45 40 45 40
 
Franchised restaurants (domestic)
Restaurants at beginning of period 1,606 1,560 1,587 1,542
New restaurant openings 37 30 79 71
Less: Permanent closings (6 ) (2 ) (29 ) (27 )
Temporary (closings)/re-openings, net (3 ) (1 ) (3 ) 1  
Restaurants at end of period 1,634 1,587 1,634 1,587
 
Franchised restaurants (international)
Restaurants at beginning of period 414 400 408 397
New restaurant openings 20 20 57 67
Less: Permanent closings (13 ) (9 ) (46 ) (48 )
Temporary (closings)/re-openings, net 4   (3 ) 6   (8 )
Restaurants at end of period 425 408 425 408
 
Total restaurant count at end of period* 2,104   2,035   2,104   2,035  
 

* Restaurant count in 2012 includes 3 net restaurants that were temporarily closed in prior periods but were reopened by year end.

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