KEY POINTS:
Restaurant Brands' third quarter sales edged up 0.8 per cent as KFC continued to perform strongly and Pizza Hut started to show "initial signs of stabilisation".
The company said yesterday that for the 12 weeks ended December 1 it
had total sales of $69.6 million, with same store sales up 1.1 per cent.
Year-to-date total sales of $231.9 million were 0.6 per cent down on a year ago across the company's three brands, with same store sales improving 0.9 per cent.
In the latest quarter, KFC sales grew by 5 per cent over the corresponding period a year earlier to $47.9 million, while same store
sales were up 2.9 per cent to $46.7 million.
Benefits of investment in KFC store transformation, a consistent marketing message, and new menu items continued, Restaurant Brands said.
"This was a particularly satisfactory result in the face of tight economic conditions, rising consumer prices and the reported general downturn in retail sales."
Pizza Hut was starting to show initial signs of stabilisation, with
same store sales for the quarter down 4.3 per cent to $14.6 million and total sales down 8.6 per cent.
The number of Pizza Hut stores was four fewer than a year ago as part of a programme to progressively close red roof restaurants, the company
said.
Starbucks Coffee quarterly sales declined by 4.6 per cent to $7.2 million.
Restaurant Brands closed yesterday up 2c at 61c.
- NZPA
