Restaurant Brands lifts Q1 sales 3.9% after adding Carl’s Jr stores
Sales at its 179 stores increase by $2.8m to $73.3m in the 12 weeks ended May 20.
Restaurant Brands, which operates four fast-food chains, lifted first-quarter sales 3.9 percent after it added the Carl's Jr burger brand to its stable in November.
Sales at its 179 stores increased by $2.8 million to $73.3 million in the 12 weeks ended May 20, from the year earlier period, the Auckland-based company says in a statement. The addition of three Carl's Jr stores during the period added $2.3 million to sales. On a same-store basis, total sales rose 3.2 percent.
Shares in Restaurant Brands gained 1 percent to $3.03.
KFC sales, which make up the bulk of the company's revenue, rose 0.1 percent to $54.1 million. Excluding the addition of a new store, sales dropped 0.9 percent.
Pizza Hut stores boosted revenue 6.7 percent to $11.3 million after the company sold 12 of its regional and lower volume stores to independent franchisees. On a same-store basis, sales jumped 28.6 percent as the chain benefited from new promotions.
Sales at the company's Starbucks Coffee chain dropped 5.1 percent to $5.6 million after two stores closed as a result of the Christchurch earthquake and the company shut a further three stores with low sales at the end of their leases. Same-store sales rose 1.7 percent.
A fourth Carl's Jr store opened near the end of the quarter on May 16 and achieved a weekly sales record for any store operated by the company, Restaurant Brands says. The Memphis BBQ Burger and Hokey Pokey Milkshake promotions continued to produce strong sales.
(BusinessDesk)
Tina Morrison
Wed, 11 Jul 2018
Wed, 11 Jul 2018
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Restaurant Brands lifts Q1 sales 3.9% after adding Carl’s Jr stores
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