KFC hot but Pizza Hut sales go soggy
Fast-food operator Restaurant Brands has served up more of the same in the first quarter of its new financial year - strong sales at its KFC outlets but sagging Pizza Hut figures.
Sales across the group were $70.5 million for the 12 weeks to May 21, a 4.1 per cent improvement on figures for the same period a year ago.
Same-store sales were up 4.4 per cent.
However, the growth was mostly driven by KFC, which had a 9.6 per cent rise in sales to $45.5 million.
On a same-store basis the figures were even better, up 10.6 per cent.
Chairman Ted van Arkel said the KFC sales were particularly pleasing, given that three outlets were closed for part of the quarter for a revamp.
Restaurant Brands’ Starbucks Coffee business recorded its 14th consecutive quarter of sales growth, up 7.9 per cent to $7.6 million.
Same-store sales rose 2 per cent.
However, Pizza Hut’s sales declined for the sixth quarter in a row - this time by 9.1 per cent to $17.4 million.
Same-store sales recorded their seventh consecutive drop, by 8 per cent.
The same-store sales drop is larger than for the last quarter of the 2006 financial year, but an improvement on the 10.9 per cent and 16.5 per cent falls reported in the previous two quarters.
Pizza Hut has been battling increased competition in the market - particularly from Domino’s, which has moved aggressively into this country.
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