Burger King net income soars, revenue crashes
Miami — Burger King Worldwide Inc. reported impressive net income growth during the fourth quarter and full fiscal year 2013. Consolidated net income rose 37% year-over-year to $66.8 million from $48.6 million in the quarter, and almost doubled from $117.7 million to $223.7 million for the year.
Interestingly, consolidated revenues went in the opposite direction. For the quarter, revenues dropped 34% to $265.2 million from $404.5 million. During the fiscal year, revenues declined about 42% to $1.15 billion from $1.97 billion. Consolidated same-store sales grew 1.7% during the quarter and 1.5% during the year.
Burger King said fourth quarter total reported revenues declined from the prior year primarily due to the net refranchising of 360 company-owned restaurants in 2013.
“2013 was an important year for Burger King Worldwide as we grew our brand presence around the globe and made significant progress towards achieving our long-term strategic goals,” said Daniel Swartz, CEO of Burger King Worldwide. “We completed our global refranchising initiative, fundamentally transforming our business model and putting restaurant operations into the hands of our experienced franchisees. In North America, our focus on launching fewer, more impactful products helped drive improved sales trends as the year progressed. We grew comparable sales across all three international regions, opened 670 net new restaurants globally, and formed joint ventures in France and India to lay the foundation for continued expansion. We believe that we have the right team in place to capitalize on this success in 2014 and generate long-term value for franchisees and shareholders."
Get to know Walmart’s new CEO
From loading trucks at the age of 17, to meeting his wife on the Bentonville square to becoming an assistant buyer and interacting with founder Sam Walton, Walmart’s new CEO Doug McMillon is sharing details about his journey to becoming the company’s youngest CEO.
McMillon became president and CEO of Wal-Mart Stores on Feb. 1, filling a position previously held by Mike Duke. McMillon has been with Walmart for 23 years so many inside and outside the company know him well. However, in an interview the company posted on its website recently that appeared in an internal publication called Walmart World, McMillon shared his views on a wide range of topics and offered some interesting anecdotes that even those who know him well may find surprising.
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Companies spend more on user experience research
Boston — Businesses are spending more money on and paying more attention to user experience research. According to a new survey of 1,300 marketing, product and user experience professionals from user experience technology provider Usertesting.com, 55% say usability testing budget increased in 2013.
The most popular reason (42%) was a change in attitude towards usability testing. Sixty percent of respondents said testing frequency increased in 2013, with 37% of those also saying the reason is a change in attitude toward testing. For 2014, 70% say frequency will increase.
Other notable results include:
- 41% of respondents have a dedicated team for usability testing, and 45% say two to five people work on user experience in their company.
- 84% of respondents run usability testing on websites, while 44% run usability testing on mobile apps and 43% run usability testing on mobile sites.
- 56% of respondents said the most important online trends affecting usability testing in the next five years will include multi-device interaction, and 50% selected touch interfaces.