Popeyes Louisiana Kitchen rose 5% in Wednesday’s afternoon trade after the quick-service restaurant operator raised its full year 2016 comparable store sales outlook and provided updated guidance for fiscal 2016 earnings in line with analysts’ estimates.
The company said that it expects to report FY16 comparable sales growth 2.8% versus 1.7% that it had initially announced late Tuesday. The prior growth guidance was 1% to 2%.
It now sees full-year EPS of $2.10 – $2.12, trimmed from the previous guidance of $2.10 – $2.15 EPS. Analysts polled by Capital IQ are expecting EPS of $2.11.