Popeyes reports higher net income, market share in Q3

Popeyes Louisiana Kitchen gave an upbeat picture of the company’s progress during the third quarter of fiscal year 2015, citing an increase in net income, an increase in same-store sales and a gain in domestic market share among U.S. quick service restaurants (QSRs) that specialize in chicken.
The company on November 11 reported a net income of $10.6 million for the quarter, up from the $9.8 million recorded during the third quarter of fiscal year 2014. The fiscal year ended October 4.
The Atlanta-based company also reported a 6 percent increase in global same-store sales so far in 2015. Domestic same-store sales are up 5.6 percent, while international same-store sales are up 9.1 percent. This follows a trend of growth established a year ago, as global same-store sales grew by 7.3 percent in 2014.
"We are pleased to report another quarter of strong sales and earnings. Our combination of innovative menu offerings, media, and messaging delivered global same-store sales of 6 percent and continued market share gains. Going forward, increasing cash flows give us the opportunity to invest in key organic growth strategies, including people initiatives, technology and international expansion. We believe the execution of these strategies will help ensure strong, sustainable financial performance for all of our stakeholders. The board approved a $200 million dollar share repurchase authorization to replace the current authorization," commented Cheryl Bachelder, Popeyes CEO.

Popeyes gains market share among chicken QSRs

Citing independent data, Popeyes reported that its domestic same-store sales have outpaced the chicken quick service restaurant (QSR) segment for 30 consecutive quarters, and the  overall QSR segment for 16 consecutive quarters, according to independent data.
According to the company, Popeyes has increased its domestic market share of the chicken QSR category to 26 percent, compared to 23.7 percent in 2014.