2.31%C 7.40 5.37%QQQQ 27.81 2.83%
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ATLANTA - AFC Enterprises Inc., which operates Popeyes fast-food restaurants, on Wednesday raised its fiscal-year guidance, due to a one-time benefit and increased cost cutting.
| AFCE | 3.86 |  0.09 |
The company now expects earnings between 66 cents to 71 cents per share, compared with previous guidance of 63 cents to 68 cents per share. The new estimate includes a one-time benefit of 3 cents per share due to a favorable settlement of insurance claims and a gain on the sale of a property previously leased to a franchisee.
The company said the increase also reflects management of expenses to help offset weaker same-store sales.
AFC lowered its expectations of sales in stores open at least one year, a key retail metric known as same-store sales, to a decline of 1 percent to 2 percent. The company previously predicted same-store sales would be flat to up 1 percent.
Shares fell 7 cents to close at $9.04.
U.S. stocks were mixed on Thursday after retailers reported mostly disappointing sales while other big-name companies announced layoffs and Europ...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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