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Friday September 25, 2020

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Burger King Fourth Fiscal Quarter Earnings Rise 37 Percent Following Global Re-Franchising Initiative

Feb 13, 2014 12:14 PM EST | By Justin Stock
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Burger King, global franchising initiative
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Burger King
Burger King's improvement efforts helped it see positive numbers in the 2013 fourth fiscal quarter.(Photo : Wikimedia Commons)

Burger King's improvement efforts helped it see positive numbers in the 2013 fourth fiscal quarter.

Burger King re-sold 360 restaurants, and unlocked doors to 670 new restaurants in 2013. This totals a 5.2 percent expansion the year prior.

"We completed our global refranchising initiative, fundamentally transforming our business model and putting restaurant operations into the hands of our experienced franchisees," Burger King CEO Daniel Schwartz Daniel Schwartz, Burger King CEO said in a statement The Entrepreneur reported. "In North America, our focus on launching fewer, more impactful products helped drive improved sales trends as the year progressed," Schwartz said in the statement.

Earnings increased 37 percent for the company who finished making changes to its franchises as part of its global refranchising initiative The Entrepreneur reported Thursday.. Burger King saw its net income go up 99 percent in 2013 to $234 million versus $118 million the year prior  

New items such as Satisfries and the Big King burger helped Burger King elevate sales.

Burger King saw sales increase 0.5 percent across the globe last year, but went down 0.9 percent in the United States The Entrepreneur reported.Fourth quarter numbers went up 1.7 percent across the globe, and 0.2 percent in the United States.

Burger King put satisfries on the menu in Sept. The product competes with McDonalds, and has 30 percent less fat and 20 percent fewer calories than its classic fries.The fries also have 40 percent less fat and 30 percent few calories than McDonald's fries, and sell for 20 to 30 cents more than regular fries except in kids meals where prices will stay the same USA Today reported.

Burger King brought back its Big King sandwich last month the Associated Press reported.

The sandwich has two grilled beef patties, a sesame seed bun, King Sauce similar to Thousand Island dressing, iceberg lettuce, onions, pickles and two slices of American cheese according to the Bring Back The Big King Facebook Group.

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