Popeyes Louisiana Kitchen Inc. (NASDAQ:PLKI) is Kentucky Fried Chicken’s largest competitor. It develops, operates, and franchises quick-service restaurants specializing in Louisiana-style fried chicken and side dishes. The company operates in two business segments, Franchise Operations and Company-Operated Restaurants.
It operates and franchises Popeyes restaurants under the trade names Popeyes Chicken & Biscuits and Popeyes Louisiana Kitchen in 47 states, the District of Columbia, three territories, and 28 foreign countries. The company was formerly known as AFC Enterprises Inc. and changed its name to Popeyes Louisiana Kitchen Inc. in January 2014. It has been a wonderful stock in the past two years, rising over 80 percent in two short years. This excellent return on investment has come from the company’s continued success in generating increased revenues and sales.
The company reported another blowout quarter. It reported net income of $11.1 million, or 46 cents per diluted share. Adjusted earnings per diluted share were 46 cents compared to 40 cents in 2013, representing a 15 percent increase year over year. Global same-store sales increased 4.5 percent in 2014 for a two-year growth rate of 9 percent. Total domestic same-store sales increased 4.3 percent compared to 4.5 percent last year. International same-store sales increased 5.8 percent compared to 4.1 percent last year.