Restaurant Brands sales rise 2.3% on Pizza Hut, KFC
The company plans to open its first Carl's Jr outlet at the end of September and is reviewing several more sites.
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BUSINESSDESK: Restaurant Brands, which operates the local Pizza Hut, KFC and Starbucks brands, reported second-quarter sales rose 2.3%, led by an increase in Pizza Hut and KFC revenue.
Total sales rose $2.2 million to $96.1 million in the 16 weeks ended September 10, while same store sales increased 3.7% to $94.8 million, the company says.
Pizza Hut sales increased 9.5% to $15.3 million despite a reduction in 11 outlets after the sale of stores to independent franchisees and closures. The number of Pizza Hut stores now stands at 63.
Same-store sales increased 26.5% to $15.1 million, largely driven by continued success of the $4.90 large classics pizza. Pizza Hut also ran a $9.90 large favourites pizza during the quarter, which helped boost sales.
KFC sales rose 1.8% to $73.4 million, while same store sales climbed 0.7% to $72.2 million.
"Sales were enhanced by the return of the KFC Double Down burger promotion, which although not reaching the same levels as last year, certainly had a positive impact on KFC sales as a limited time offer," Restaurant Brands says.
KFC's Te Awamutu, Thames and Hawera stores were temporarily closed for renovations during the quarter, while the Lower Hutt and Park Avenue stores were closed to prepare for site relocation.
The fast food outlet also introduced the KFC pie, $20 dinner deals as well as the return of hot and spicy chicken.
Starbucks Coffee sales fell 5.1% to $7.5 million compared to the same period a year earlier. Same store sales slipped 4% $7.5 million.
Starbucks Cathedral Square store in Christchurch was permanently closed during the quarter due to lease termination after the earthquake. The number of Starbucks stores now stands at 33. Christchurch's Cashel Mall store still remains closes as a result of the quakes.
Restaurant Brands' plans to open its first Carl's Jr outlet at the end of September and is reviewing several more sites.
Hannah Lynch
Wed, 11 Jul 2018
Wed, 11 Jul 2018
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Restaurant Brands sales rise 2.3% on Pizza Hut, KFC
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