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Restaurant Brands' third quarter sales have edged up a slight 0.8 per cent, as its KFC operation continues to perform well.
And the company's long-time dead weight Pizza Hut is starting to show "initial signs of stabilisation".
The company today said 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 $231.9m 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 $47.9m, while same store sales were up 2.9 per cent to $46.7m.
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."
Restaurant Brands said same store sales at Pizza Hut were down 4.3 per cent to $14.6m, with total sales down 8.6 per cent.
A fall of this scale is, says the company "starting to show initial signs of stabilisation".
The number of Pizza Hut stores was four lower 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 $7.2m , with the store count down three on a year ago as some poorer performing stores were closed.
On a same store basis, Starbucks sales for the quarter increased 1.6 per cent to $7m.
Restaurant Brands shares closed yesterday at 59c, down from a year high of 92c in June.
- NZPA
