How Much Money Did Popeyes Make Off Chicken Sandwich
New York (CNN Business)Popeyes' honey chicken sandwich helped requite the concatenation a major boost in the 4th quarter.
Restaurant Brands International, which owns Popeyes, Burger King and Tim Hortons, reported Monday that sales at all Popeyes restaurants jumped about 42% to $i.3 billion in the concluding three months of 2019 compared to the same menses a year before. At Popeyes restaurants open at least 17 months, sales jumped 34%.
The visitor'south stock jumped most 4% earlier the market opened Monday.
The biggest sales driver was Popeyes' new chicken sandwich, which caused a splash when it launched this summer.
Popeyes first introduced the menu item in August. Customers flocked to the restaurant concatenation and the sandwich sold out in less than two weeks. The make said at the fourth dimension that the "extraordinary demand" took it by surprise.
The sandwich -— a buttermilk battered and breaded white meat filet, topped with pickles and a choice of mayo or a spicy Cajun spread and served on a toasted brioche bun — was billed every bit Popeyes' "biggest product launch in the concluding 30 years."
Afterwards taking dandy pains to forbid another shortage, the chain brought the card detail back in November. The quaternary quarter figures show that this summer's uproar over craven sandwiches connected into fall.
The sandwich "has proven to exist a game changer for the brand in every way," said Eatery Brands International (QSR) CEO Jose Cil in a statement discussing the financial results. Cil chosen 2019 a "pivotal year," for Popeyes during an analyst phone call discussing earnings.
The sandwich helped draw customers into restaurants, where they ended up ownership other food as well.
"For the vast majority of our guests purchasing the sandwich, nosotros saw that they actually spent more on other products," said Cil. "The traffic driven by the demand of the Popeyes Chicken Sandwich helped drive growth in our entire bill of fare."
Because 2019 was such a proficient year for the brand, more U.s. franchise operators have expressed interest in opening new restaurants, Cil noted.
Popeyes' rivals have noticed America's craving for fried chicken sandwiches.
Wendy's (WEN) sparred with Popeyes on Twitter to promote its own version of the sandwich. And McDonald's (MCD) started testing fried chicken sandwiches in select markets Dec. It as well added chicken breakfast sandwiches to its national menu for a limited time.
Burger King delivered strong results for Restaurant Brands International, too
Beyond the Burger King chain, sales jumped roughly viii% to $five.ix billion in the 4th quarter compared to the aforementioned catamenia a year before. At Burger Male monarch restaurants open at least 13 months, the increment was nearly 3%.
The Impossible Whopper was "an important sales driver," said Cil, adding that Burger Male monarch plans to expand its constitute-based offerings because of the success of the product.
Tim Hortons, however, is struggling. Its sales dipped nearly 3% in the quarter. Sales at Tim Hortons cafes open at to the lowest degree 13 months fell about 4% in the fourth quarter.
Source: https://www.cnn.com/2020/02/10/business/popeyes-chicken-sandwich/index.html
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