AFC Enterprises (AFCE) Reports Q4 Sales, Reaffirms FY07 Sales
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AFC Enterprises, Inc. (Nasdaq: AFCE) reported operational results for its fourth quarter which began October 2, 2006 and ended December 31, 2006.
Total domestic same-store sales decreased 3.1 percent in the fourth quarter of 2006, compared to an increase of 6.9 percent in the fourth quarter of 2005.
The Company reaffirms that total domestic same-store sales for fiscal 2007 are projected to be in the range of 1.5-2.5 percent. In the first quarter, same-store sales growth is expected to be slightly negative and is expected to strengthen throughout the year, as the rollover effect of hurricane markets diminishes and the Company's new products, operational improvement efforts and promotional strategies continue to gain additional traction.
In fiscal 2007, the Company expects total new restaurant openings to be 165-175, with domestic openings consisting of approximately 60 percent of the total.
Total domestic same-store sales decreased 3.1 percent in the fourth quarter of 2006, compared to an increase of 6.9 percent in the fourth quarter of 2005.
The Company reaffirms that total domestic same-store sales for fiscal 2007 are projected to be in the range of 1.5-2.5 percent. In the first quarter, same-store sales growth is expected to be slightly negative and is expected to strengthen throughout the year, as the rollover effect of hurricane markets diminishes and the Company's new products, operational improvement efforts and promotional strategies continue to gain additional traction.
In fiscal 2007, the Company expects total new restaurant openings to be 165-175, with domestic openings consisting of approximately 60 percent of the total.
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