AFC Enterprises Delays Results for Review
Reuters
AFC Enterprises Inc., operator of the Popeye’s Chicken & Biscuits, Church’s Chicken and Cinnabon restaurant chains, said it delayed reporting its fiscal first-quarter earnings until its new auditor completes a review.
AFC, which operates nearly 3,900 restaurants worldwide, said its audit of continuing operations had been completed, but a review of the treatment of goodwill and intangibles amortization under a new rule is unfinished.
Shares of AFC fell 8% to $29.46 in trading on Nasdaq.
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