SYRACUSE, N.Y. — Carrols Restaurant Group, Inc. (NASDAQ: TAST), the nation’s largest Burger King franchisee, has reported a net loss of $9.6 million, or 19 cents a share, in the second quarter.
The net loss compares to net income of nearly $8 million, or 13 cents a share, during the second quarter of 2020.
The net loss includes a non-cash extinguishment of debt charge of $8.5 million, per the Thursday earnings report.
(Sponsored)
Timekeeping Trap: Be Careful When “Rounding” an Employee’s Work Time
The Fair Labor Standards Act (FLSA) regulations do not require an employer to track and pay an employee for the exact number of minutes they actually work. As currently written,
Close the Skills Gap: Build Your Workforce with MACNY Registered Apprenticeship Program
In today’s competitive labor market, finding qualified candidates through traditional hiring methods has never been more challenging. As industries evolve and workforce demands shift, employers are facing a growing skills
Carrols also reported total restaurant sales of $424.5 million, a 15.2 percent increase from $368.4 million in the second quarter of 2020.
Comparable restaurant sales for the company’s Burger King restaurants rose 12.6 percent, while comparable restaurant sales for Carrols’ Popeyes restaurants fell 5.3 percent.
Syracuse–based Carrols is one of the largest restaurant franchisees in North America. It is the largest Burger King franchisee in the U.S., currently operating 1,027 Burger King restaurants and 65 Popeyes restaurants. Carrols has operated Burger King restaurants since 1976.
