Unlike you I referenced the actual documentation from Popeyes. Your documentation was pulled from your butt.
We have nearly
doubled domestic franchise Restaurant Operating
Profits (ROP) from $177,000 in 2008 to $340,000 in
2015. Perhaps most importantly, we have grown our
share of the Chicken Quick Service Restaurant (CQSR)
market from just 14.8 percent in 2008 to 25.5 percent
in 2015.
From note 6: Restaurant Operating Profits are calculated by subtracting Operating expenses from Sales, Operating expenses consist of the following major items: Food and Paper Costs. Labor Costs, Controllable Expenses, Marketing Expenses, Non-controllable Expenses
Operating Expenses do not include any non-cash expenses such as depreciation, gains and losses on the sale of assets, deferred gains, impairment or disposal of assets and amortization.
business value, franchise fees, or loan fees.
So, yes I believe the gross profit margin as reported.
restaurant operating profit vs net profit