QSR - This Burger King Franchisee's Results Say Faux-Meat Mania May Be Over
The faux-meat fad is increasingly looking like it has run its course, at least at restaurants. For proof, look no further than Carrolls Restaurant Group (NASDAQ: TAST), the largest franchisee of Burger King restaurants in the country, which just reported preliminary fourth-quarter and full-year results.
Although total quarterly restaurant sales were up over 29%, much of that was due to having acquired a number of Burger King and Popeye's restaurants in the second quarter. Absent that contribution, sales were up just 5% year over year.
But the results also showed its Burger King division was seeing comparable sales slow, falling to 2% growth from 2.7% in last year's fourth quarter. The saving grace for Carrolls was that Popeye's restaurants enjoyed a massive influx of customers after chain parent Restaurant Brands International (NYSE: QSR) reintroduced its popular chicken sandwich in November. Comps surged 21.2% for the period for the chain.