Carl's Jr still a star performer
New burger chain Carl's Jr helped boost Restaurant Brands' fourth-quarter sales by 6.4 per cent compared to the same period the previous year.
Restaurant Brands, which also owns the KFC, Starbucks Coffee and Pizza Hut chains, reported total sales of $77.6 million for the three months ended February 24.
Same-store sales for the period were up 3.5 per cent.
The Carl's Jr brand, which launched in November 2012, achieved total sales of $3.7m, up 108 per cent for the quarter, due to new stores opening and marketing promotions.
Same-store sales for the burger chain dropped 59.1 per cent due to strong sales in new stores during the same period the previous year.
Other than Carl's Jr, KFC's total sales were up 5 per cent to $56.9m for the period.
Same-store sales were 4.1 per cent higher, boosted by Christmas promotions.
Total sales for Pizza Hut were down slightly to $10.8m due to the closing of six stores as the company sold regional and lower-volume stores to independent franchisees.
Pizza Hut's same-store sales increased 8.9 per cent.
Starbuck's Coffee's total quarterly sales were $6.2m, up 2.7 per cent, despite having two fewer stores than the prior year.
Same-store sales for the coffee chain improved 7.6 per cent.
Restaurant Brands shares were trading up 1.8 per cent early this afternoon to $2.85.
- Fairfax Media