Restaurant Brands same store sales rise 2.2 per cent

Fast food chain owner Restaurant Brands said today its same store sales in the 12 weeks to November 29 were up 2.2 per cent.

Total sales, including new outlets, rose 3.5 per cent to $70 million.

Same store sales at its troublesome KFC chain rose 3.4 per cent to $38.0m in the quarter. Pizza Hutt NZ sales were up 0.2 per cent to $18.34m and Starbucks sales were up 1.1 per cent to $5.36m.

Year-to-date same store sales for the group were up just 0.2 per cent at $230m while KFC sales were down 0.3 per cent at $129.18m.

The company said KFC's improved sales performance was despite the withdrawal of the delivery business from some KFC stores over the quarter.

"The brand saw good growth in its Family Meal business and continued innovation around its sub-brands, including the Meteors product released as part of a particularly successful Hot 'n' Spicy chicken promotion."

KFC store numbers remained at 87, the same as the previous quarter, but one down on prior year.

The company said that despite continuing competitive pressures, Pizza Hut continued to grow both total and same store sales, achieving its highest volume of pizza sales ever over the quarter.

Starbucks same store sales were up 4.0 per cent on a year-to-date basis.

Pizza Hut Victoria experienced steady growth with same store sales up 2.1 per cent.

Restaurant Brands shares closed yesterday at $1.31, having traded between $1.05 and $1.40 in the last year.

- NZPA