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News Breaks | | | | September 11, 2012 | | 09:24 EDT |  | AFCE | AFC Enterprises reports damages for less than $200,000 caused by Hurricane Isaac
AFC Enterprises provided the following update on the effect of Hurricane Isaac on its operations. Hurricane Isaac forced the temporary closure of 104 Popeyes restaurants for periods of approximately 1 to 5 days. All restaurants have reopened. Consistent with past experience, in the days preceding and following the storm, Popeyes restaurants in the region experienced strong sales volumes. The strong sales largely offset the effects of lost sales due to the temporary closures resulting in an aggregate reduction in the Company's expected net income of less than $ 60,000. Additionally, estimates of the storm damages to the net book value of assets at the 26 Company-operated restaurants in the New Orleans area total less than $ 200,000. | |
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