TAST - Carrols Restaurant Group Inc. Reports Preliminary Sales Results for the Fourth Quarter and Full Year 2023 | Benzinga
SYRACUSE, N.Y., Jan. 08, 2024 (GLOBE NEWSWIRE) -- Carrols Restaurant Group, Inc. ("Carrols" or the "Company") (NASDAQ:TAST), the largest BURGER KING® franchisee in the United States, today reported its preliminary sales results for the fourth quarter and full year 2023.
Preliminary sales results for the Fourth Quarter of 2023 versus the Fourth Quarter of 2022 include:
- Total restaurant sales increased 5.7% to $470.4 million compared to $445.1 million in the fourth quarter of 2022;
- Comparable restaurant sales for the Company's Burger King® restaurants increased 7.2%; and
- Comparable restaurant sales for the Company's Popeyes® restaurants increased 7.6%.
Preliminary sales results for the Full Year 2023 versus the Full Year 2022 include:
- Total restaurant sales increased 8.4% to $1.88 billion compared to $1.73 billion in the full year of 2022;
- Comparable restaurant sales for the Company's Burger King® restaurants increased 9.3%; and
- Comparable restaurant sales for the Company's Popeyes® restaurants increased 10.1%.
Management Commentary
Deborah M. Derby, President and Chief Executive Officer of Carrols, commented "Our strong Burger King comparable restaurant sales growth of 7.2% in the fourth quarter of 2023 was driven by average check growth of 4.2%, along with a 2.9% increase in traffic. This result was primarily due to the combination of the continued operational improvement efforts by the Carrols' team and the positive impact of our franchisor's Reclaim ...