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Restaurant Brands lifts 1st quarter sales 3.9 percent after adding Carl's Jr stores

Wednesday 29th May 2013

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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 said in a statement. The addition of three Carl's Jr stores during the period added $2.3 million to sales, the company said. 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 closed 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 said. The Memphis BBQ Burger and Hokey Pokey Milkshake promotions continued to produce strong sales, the company said.

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