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)
Keeping Your Firm Secure on the Road to Digitization
By Dan Hernborg Sales Engineer With the looming threat of a potential recession and economic downturn, many professional service firms are looking to reduce costs and increase efficiency in preparation.
Criminal Liability for Employment Law Violations?
New York employers are often surprised to learn that wage law violations can lead to criminal penalties in addition to financial penalties. Whether payroll is outsourced, or a staffing agency
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.
