Revenues decreased 1.0% Y/Y to $1.34B primarily due to the inclusion of the 53rd week in the fourth quarter of 2020, with the 53rd week of 4Q20 contributing an estimated $88.4M. Advertising incentives of $6.5M and forex $2.5M also contributed to the decrease in revenues, partially offset by global same store sales growth and an increase in global store counts resulting in higher supply chain and global royalty revenues.
Revenue breakdown: U.S. Company owned stores $141.23M, U.S. franchise royalties and fees $166.94M, Supply Chain $800.56M, International franchise royalties and fees $90.97M and U.S. franchise advertising of $143.2M.
Net income was up $3.8M to $155.69M primarily driven by a $34.3M pre-tax unrealized gain on the Company's investment in DPC Dash partially offset by an estimated $15.2M of net income attributable to the 53rd week in 2020.
U.S. same store sales increased 1.0% during the quarter and 3.5% for the full year. International same store sales increased 1.8% during the quarter and 8.0% for the full year.
The Company had fourth quarter global net store growth of 468 stores, comprised of 89 net U.S. store openings and 379 net international store openings.
The company raises dividend by 17% to $1.10.
The company named new CEO and CFO