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Pollo Tropical, Taco Cabana parent prelim Q3 comps down
October 7, 2008
SYRACUSE, N.Y. —Carrols Restaurant Group, Inc., the parent company of Carrols Corp., which operates Pollo Tropical and Taco Cabana and is the largest Burger King franchisee, has reported preliminary financial results for the third quarter ended Sept. 28.
Total revenues for the third quarter of 2008 are expected to be approximately $209.1 million, an expected increase of 2.7 percent over the third quarter of 2007. Comparable restaurant sales are anticipated to increase 3.5 percent at its Burger King stores, and to decrease 1.9 percent at Pollo Tropical and 0.9 percent at Taco Cabana.
The company estimates that it lost about 150 total restaurant operating days during the third quarter due to restaurant closures at Taco Cabana caused by Hurricane Ike. The company will provide additional details regarding its third quarter and nine month results and revised 2008 guidance during its upcoming quarterly conference call, which is scheduled for Nov. 4.
During the third quarter, the company opened one new Pollo Tropical restaurant and three new Taco Cabana restaurants. The company also closed two Burger King restaurants. As of Sept. 28, 2008, the company owned and operated a total of 559 restaurants, including 317 Burger King, 89 Pollo Tropical and 153 Taco Cabana restaurants.
Upcoming Investor Conference
The company will present at the Wachovia 2008 Consumer Growth Conference on Oct. 14 at 8:30 a.m. Easter time. The presentation will be webcast live from the company's website atwww.carrols.com, under the investor relations section.
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