Carrols reports increased total sales for Q4, full-year 2020

SYRACUSE, N.Y. — Carrols Restaurant Group, Inc. (NASDAQ: TAST), the nation’s largest Burger King franchisee, on Tuesday reported increased total restaurant sales during the fourth quarter and for all of 2020.

That’s according to preliminary sales figures for both time periods.

Restaurant sales totaled $420.5 million in the fourth quarter, up 5.8 percent from more than $397 million in the prior-year quarter.

The fourth quarter of 2020 included 14 weeks compared to the same quarter in 2019, which included 13 weeks. The company generated $28.4 million in restaurant sales during the 14th week in the fourth quarter of 2020, it said.

Comparable restaurant sales for the company’s Burger King restaurants decreased 0.9 percent. Comparable restaurant sales for its Popeyes restaurants fell 12.9 percent after a gain of 21.2 percent in the prior-year quarter, Carrols said.

For all of 2020, restaurant sales totaled more than $1.5 billion, a 6.5 percent increase compared to the more than $1.4 billion in the previous year. The company generated $28.4 million in restaurant sales during the year’s 53rd week.

Comparable restaurant sales for the company’s Burger King restaurants decreased 2.8 percent and the comparable restaurant sales for the company’s Popeyes restaurants dipped 0.1 percent, Carrols said.

Syracuse–based Carrols is one of the largest restaurant franchisees in the U.S. and currently operates about 1,074 restaurants. It is the largest Burger King franchisee in the U.S., currently operating 1,009 Burger King restaurants and 65 Popeyes restaurants. Carrols has operated Burger King restaurants since 1976.