KEY POINTS:
Start of year sales at NZX-listed Restaurant Brands are down as Pizza Hut results continue to disappoint.
First-quarter sales ending May 19 totalled $69.8 million, down from $70.5 million the previous year.
Sales at Pizza Hut fell 13 per cent to $15.2 million, which Restaurant Brands said was disappointing and largely due to store numbers dropping by seven to 96 outlets, althoughsame-store sales were down 7.1 per cent.
Most of the Pizza Hut closures were part of a continuing programme as leases expired or the company encountered exit opportunities.
The exit from Pizza Hut Victoria was concluded during the quarter.
Chief executive Russel Creedy this month sought to quash rumours of a more substantial potential exit, stating there was no plan to sell any part of the company, nor had any offers been received.
KFC sales were $47 million, up from $45.5 million, while Starbucks sales were $7.7 million, up from $7.6 million the previous year.
Sales had been affected by a contraction in retail spending and a strong combined Easter and school holiday trading period the previous year, the company said.
Sales growth at KFC of 3.4 per cent - 2.1 per cent on a same-store basis - followed a rise of 10.6 per cent the previous year.
Starbucks same-store growth was 6.7 per cent, with two fewer stores due to the end of leases.
Restaurant Brands shares closed up 1c yesterday at $87c.
