Chicken Is Still a Winner: RBI’S Popeyes Posts Strong Growth as Others Falter
Chowing down on chicken appears to be a nearly pandemic-proof trend in the U.S., as Restaurant Brands International (NYSE: QSR) reported today. The company detailed a more than 40% increase in same-store sales at Popeyes "as of the third full week in May." Even with the coronavirus on the loose in March, the restaurant's sales remained flat year over year rather than declining, unlike RBI's other major brands and its competitors.
According to the same SEC filing, sales at Burger King and Tim Hortons, RBI's two other main brands, are still posting negative same-store sales figures year over year, but have improved from the second half of March. In March, Burger King sales were in the "negative low-thirties" and Tim Hortons registered in "the negative mid-forties." Burger King is now in the negative "mid-single digits" and Tim Hortons in "the negative mid-twenties."
Image source: Getty Images.
Source Fool.com
