Economy Doesn't Slow Down Burger King Results

MIAMI-An economic slowdown did not hurt Burger King’s second-quarter results, as the fast-food chain posted strong sales and earnings results. “We are not seeing a slowdown,” said John Chidsey, the company’s chief executive officer, during a conference call.

Same-restaurant sales rose 4.5% year over year throughout its portfolio, and 4.2% in North America. Earnings per share shot up 29%, hitting 36 cents.

So far this fiscal year, Burger King has doubled growth from the prior 12-month period. The company opened 105 units worldwide during the quarter, totaling 112 new restaurants over the first six months.

Most of the company’s growth, like other fast-food outfits, is taking place overseas. In the past year, it has opened 231 restaurants outside of North America, while operating 20 less in the US and Canada.

Same-stores sales were the highest, up 5.5% in its division which covers Europe, Asia and the Middle East. Burger King, which operates nearly 11,400 restaurants around the globe, recently signed agreements to enter Colombia, Brazil and Romania.