KEY POINTS:
Fast food operator Restaurant Brands, which is selling its loss-making Australian Pizza Hut business, said today New Zealand quarterly same store sales rose 3.6 per cent.
The increase for the 12 weeks ended December was on the back of improvements at its KFC stores, chief executive Vicki Salmon said. Restaurant Brands also runs the Starbucks and Pizza Hut franchises in New Zealand.
"We continue to be pleased with the results of our investment in KFC, which is resulting in improved sales performance across all stores, not just those that have been remodelled," Ms Salmon said.
Same store sales -- stores open a year ago and still operating -- were $66 million, while total sales rose 2.7 per cent to $67.8m.
Pizza Hut Victoria was not included, as it was classified as a discontinued operation at the half year.
KFC same store sales rose 10.9 per cent for the quarter, while Pizza Hut NZ same store sales fell 10.9 per cent.
"While still a tough environment, we believe that Pizza Hut New Zealand sales have stabilised over the past six weeks as a result of the changes we have made in this business," Ms Salmon said.
Starbucks same store sales rose 3.8 per cent, and total sales were up 11.4 per cent to $7.1m.
Pizza Hut Victoria, which the company is exiting by the end of the financial year in February, saw a 2 per cent decline in same store sales to $5.9m.
Restaurant Brands was continuing discussions with parties "who had approached the company and expressed an interest in participating in its future", Ms Salmon, but negotiations were at an early stage.
Shares in Restaurant Brands were flat at $1.06, having traded between 91c and $1.36 in the last year.
- NZPA
