Restaurant Brands sales on the rise
Sales at Restaurant Brands' coffee and fast-food chains rose 4.5 per cent in the fourth quarter, reflecting stronger sales at Pizza Hut and consumer interest in the new Carl's Jr stores.
Sales for the quarter weighed in at $72.96 million, while full-year sales rose 1.2 per cent to $312m.
Same-store sales for the year edged up almost 2 per cent, with KFC and Starbucks Coffee down 1 per cent and 1.7 per cent respectively, and Pizza Hut up 21.2 per cent.
Fourth-quarter sales at Pizza Hut rose almost 7 per cent to $10.9m, despite store numbers falling from 71 to 57 - with 13 sold to independent franchisees and one closed.
The lift was partly due to the "sustained success" of its $4.90 large classic pizza deal, which was a "strong value-based entry and headline price point for Pizza Hut in a very competitive and crowded market", Restaurant Brands said.
Full-year sales at Pizza Hut were up 5.3 per cent to $47.9m.
At KFC, the company's biggest chain in terms of sales, fourth-quarter sales increased almost 2 per cent to $54.2m. Full-year sales crept up 0.3 per cent to $237m.
Starbucks' sales for the quarter were $6.1m, down 4.8 per cent year on year, following the closure of six stores. Full-year sales fell 5.1 per cent to $25.1m.
Restaurant Brands' two new Carl's Jr stores contributed sales of $1.8m for the fourth quarter and $1.9m for the full year.
It opened a third Carl's Jr on Auckland's Queen St just after balance date.
Restaurant Brands will report its full-year result on April 14. Its shares slipped just over 1 per cent in trading this morning to $2.81.
- © Fairfax NZ News