Carrols Restaurant Group, Inc. (NASDAQ:TAST) Q3 2023 Earnings Call Transcript

Tony Hull: No.

Fred Wightman: Can you?

Tony Hull: I mean we gave you a quarterly number. So, it’s definitely consistent with that mid-single-digit that we gave.

Fred Wightman: Okay. Great. And then just on the new vendor agreement I think you called that out as a 70 basis point benefit in the quarter. A 20 basis point benefit I think is what you said on an ongoing basis. What exactly is that?

Tony Hull: Burger King negotiated an improved deal with one of their large vendors at the end of August I think it was. And the benefit of that was there were incremental dollars that went to the ad fund from that and then there were incremental dollars going to the franchisees. So we’re really happy with that. It was kind of an unexpected benefit for the year and for the next 10 years. So, I think they did a fantastic job renegotiating on that deal.

Fred Wightman: Okay. Perfect. Thank you.

Operator: Thank you. At this time I would like to turn the floor back over to Deborah Derby for closing comments.

Deborah Derby: Thank you again everyone for joining us this morning and for your interest in the company. We appreciate your time, and we look forward to speaking with you next quarter.

Operator: Ladies and gentlemen, thank you for your participation. This concludes today’s event. You may disconnect your lines and walk-off the webcast at this time, and enjoy the rest of your day.