Popeye's 2013 Annual Report Download - page 5

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In 2013, we grew our market share of the domestic chicken quick
service restaurant category to 20.8 percent. We opened 194 new
restaurants around the globe—our highest opening count in 15 years.
To Our Stakeholders
2013: What a Year!
It was especially exciting to see over
550 restaurants remodeled in the new
Popeyes Louisiana Kitchen image, bring-
ing the total to more than 60 percent of
the domestic system. Most importantly,
we continued to execute on our strate-
gic plan and build on our exceptional
rapport with our franchisees.
For five years running, our strategic
roadmap has been the foundation for
our consistent industry-leading results.
It encompasses the four things that a
great chain restaurant company must do
to be successful: Build a Distinctive
Brand; Create Memorable Experiences;
Grow Restaurant Profits; and Accelerate
Quality Restaurant Openings.
By remaining focused on these four
pillars, we continue to deliver excep-
tional results. It’s this discipline that has
allowed us to continue to grow, take
market share from our competition, and
drive continuous improvements in our
guest experience.
Meanwhile, our menu, message and
media are driving sales. We continue to
offer tools to help our franchisees
control costs and increase sales. When
our franchisees succeed, they open
more restaurants — which allows us to
grow the Popeyes brand and expand our
footprint. It all adds up to sustainable
growth.
Outstanding Results
Our 2013 results speak to the success of
our team and our franchise owners.
Domestic same-store sales grew for the
fifth consecutive year and international
same-store sales grew for the seventh
consecutive year.
Our adjusted earnings per diluted share
were $1.43, up 15.3 percent from $1.24
per diluted share in 2012.
With our highly franchised business
model, we generated free cash flow of
$42 million as a result of our strong
sales, new restaurants and increased
restaurant profitability.
Altogether, we added 126 net restaurants
to our global footprint for a total of
2,225 and a system growth rate of
approximately 6 percent. Our newest
locations are not only beautiful — they
are performing well, with high sales and
high returns.
Cheryl A. Bachelder
Chief Executive Officer, Popeyes Louisiana Kitchen, Inc.