News

Carrols Restaurant Group reports Q2 results

August 4, 2008

SYRACUSE, N.Y. — Carrols Restaurant Group Inc., which operates the restaurant brands Pollo Tropical, Taco Cabana and Burger King, has announced net income was off 35 percent for the second quarter ended June 29, 2008. Carrols is the largest Burger King franchisee based on number of stores.

Comparable restaurant sales increased 5.9 percent at Burger King and 0.1 percent at Pollo Tropical, and decreased 0.6 percent at Taco Cabana for the quarter. Comparable sales for the year to date are up 4.9 percent at Burger King despite the closing of eight stores. Comparable sales were down 0.2 percent at Pollo Tropical and up 0.2 percent at Taco Cabana.

Total revenues increased 5.1 percent to $210.7 million from $200.4 million last year, including a 5.1 percent increase for the company's Hispanic brands thanks to the opening of 12 new Pollo Tropical restaurants.

Net income for the quarter was $3.3 million, down from $5.1 million from the same quarter last year.