Burger King’s U.S. Comparable Sales Rise 8.4% as Popeyes Falls

Restaurant Brands International posted an 8.4% increase in Burger King’s U.S. comparable sales in its fiscal third quarter, while Popeyes’ U.S. figure fell 2.2%, leaving overall comparable sales up 3.8%.

Adjusted earnings, excluding certain noncash items, were $1.10 per share, compared with $1.09 expected. Net revenue rose 3.1% to $2.53 billion, $10 million below the $2.54 billion forecast.

Net income attributable to common shareholders was $542 million, or $1.54 per share, compared with $315 million, or 96 cents per share, a year earlier.

Burger King’s latest U.S. comparable-sales increase was close to the 8.5% gain in the quarter ended June 30. Tim Hortons’ Canadian comparable sales rose 1.8%, up from 0.1% in that prior quarter; the prior-quarter results provide the comparison.

Restaurant Brands International’s international comparable sales increased 3.9%, driven by Burger King locations. The company is working to improve Popeyes’ restaurant operations and focus on its core menu. Burger King’s U.S. business is in a multiyear effort focused on improving its food and restaurants.