Carrols Restaurant Group has reported a 21.6% increase in total restaurant sales to $368.6m for the second quarter (Q2 2019) ending 30 June 2019.
The company also reported a net loss of $3.7m, or $0.09 per diluted share in Q2 2019, compared to the net income of $7.8m, or $0.17 per diluted share during Q2 2018.
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Adjusted net income of the restaurant chain was $4.3m, or $0.07 per diluted share, compared to $10m, or $0.22 per diluted share during the prior year.
Adjusted EBITDA of the restaurant chain was $23.8m, compared to $32.8m for the same period the previous year.
Carrols Restaurant chairman and CEO Daniel T. Accordino said: “Comparable restaurant sales during the second quarter of 2019 rose 0.1% as we lapped a very strong 5.0% increase during the prior year period.
“Looking ahead, we are confident that the Burger King marketing calendar, including the Impossible Whopper launch this week and more effective promotions, can generate stronger sales performance and better restaurant-level margins through the remainder of the year.”
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By GlobalDataIn addition, Carrols Restaurant completed its merger with Cambridge Franchise Holdings by acquiring 165 additional Burger King and 55 Popeyes restaurants in ten Southeastern states on 30 April.
During the quarter, the company also closed the acquisition of 13 Burger King fast food restaurants in Baltimore, Maryland, US.
