August 30 – September 1, 2008 in Kingsland, GA, for more details visit www.visitkingsland.com.
Archive for August, 2008
August 30 – 31, for more details visit http://gpconservancy.org/summershade or call 404-521-0938.
August 27, 2008 from 2:30 PM – 4:00 PM at New South Cafe and Catering. Visit the GRA website.
AFC Enterprises, Inc., the franchisor and operator of Popeyes restaurants, reported results for its fiscal second quarter which ended July 13, 2008.Second Quarter 2008 Highlights compared to Second Quarter 2007:
- Net income was $6.6 million, or $0.26 per diluted share, compared to $6.6 million, or $0.22 per diluted share, last year. Excluding the pre-tax impact of $3.8 million from other non-operating income, net income would have been $4.3 million, or $0.17 per diluted share.
- Total system-wide sales increased by 1.5 percent compared to 2.9 percent last year.
- Total domestic same-store sales decreased 1.7 percent compared to a decrease of 2.1 percent last year. International same-store sales increased 1.7 percent compared to an increase of 1.7 percent last year. Total global same-store sales decreased 1.4 percent compared to a decrease of 1.7 percent last year.
- The Popeyes system opened 32 and closed 31 restaurants, bringing total net unit count to 1,901 compared to 1,878 last year.
- The Company received $12.3 million for a net favorable settlement related to a director and officers insurance claim previously described in the Company’s public filings.
- The Company’s board of directors authorized the negotiation of definitive agreements to refranchise and sell company-operated restaurant assets in Atlanta, Georgia and Nashville, Tennessee. As a result, the Company recorded an $8.1 million impairment charge associated with the restaurant assets.
- Year-to-date, the Company repurchased 2.1 million shares of common stock for $18.9 million. During the quarter, the Company recorded an additional $2.3 million payment for the final installment of the previously announced accelerated stock repurchase program.
Cheryl Bachelder, AFC Chief Executive Officer, stated, “We were pleased with our earnings performance for the second quarter. Our same-store sales continue to be impacted by the current economic environment; however, we believe our marketing and messaging helped us during the quarter as our comparable sales performance continued to outpace the chicken QSR segment. As we move into the second half of this year, we are excited to be rolling-out three new menu platforms designed to generate incremental sales with a focus on portability, value, and lunch occasions.”
As a part of its strategic plan, Popeyes is embarking on a comprehensive brand transformation that emphasizes its almost four decades of Louisiana-inspired home cooking. The initiative includes a more contemporary logo, new brand advertising and tagline, and distinctive new products.
Positioning Popeyes as a “Louisiana Kitchen,” the company employs a memorable “Louisiana Fast” theme to remind consumers that the brand’s authentic taste is based on a 12 + hour marination.
J. Christopher’s Restaurant announced that it will begin franchising throughout greater Atlanta, Nashville, TN, Charlotte, NC, Jacksonville, FL, Birmingham, AL and Charleston, SC. Currently J. Christopher’s has 20 locations in Atlanta, Nashville, Savannah and Tampa. The franchising growth strategy will be executed under President Dick Holbrook and Sam Haddock, J. Christopher’s Chief Operating Officer. Holbrook and Haddock joined founders Chris Brogdon and Jeff (J.) McCann in 2007.
For more information about J. Christopher’s Restaurants visit www.jchristophers.com.
Ted’s Montana Grill announced the promotion of Hugo Marin to vice president of operations. In his new position, Marin now oversees operations for all of the company’s 57 restaurants nationwide.
With more than 25 years of foodservice experience, Marin joined Ted’s Montana Grill in 2007 as director of operations for the Eastern region. From 2004 to 2007, he served as vice president of operations for Al Copeland Investments, overseeing operations for all four of the company’s restaurant concepts. He was an area director of operations and a general manager for The Cheesecake Factory Inc. from 1999 until 2004, and also held management positions with Romano’s Macaroni Grill.
The owners of Fifth Group Restaurants have joined forces with Executive Chef Shaun Doty, owner of Shaun’s, to create The Original El Taco in the former Sala space in Virginia-Highland. The new restaurant will open in mid-October. Doty is developing recipes for creative Mexican fare and the Fifth Group Restaurants team is working with William Peace, Peace Design, to change the look and feel of the restaurant. Doty will work with a chef de cuisine at El Taco when the restaurant opens, while remaining executive chef at Shaun’s.
For the third consecutive year, Hooters restaurants across the country raised money for the V Foundation for Cancer Research in the name of former Hooters Girl Kelly Jo Dowd. A check for $250,000 was presented to CEO of the V Foundation for Cancer Research Nick Valvano, basketball analyst Dick Vitale and Kelly Jo’s husband Mike Dowd during the Hooters 12th Annual International Swimsuit Pageant in Fort Lauderdale. The money will go toward a $2 Million grant which was established to honor Kelly Jo, who lost her battle to breast cancer in 2007 after fighting the dreaded disease for 5 years.