Restaurant Brands 3Q sales up 1.8%

Tuesday 14th December 2010

Restaurant Brands reported third quarter sales 1.8% ahead of a year earlier to $74.2 million, with KFC continuing to drive the company's gains.

Same store sales for the 12 weeks to December 6 were also up 1.8%, while year-to-date sales of $250.5m were 3.3% up on a year earlier and up 4% on a same store basis.

KFC sales were up 6.2% to $54.6m, with the same store rise being 3.9%, rolling over a 10 percent same store sales rise in the third quarter last year, Restaurant Brands said today.

A new KFC store opened at The Base shopping centre in Te Rapa in November and was trading above expectations. In the past year, four new KFC stores had opened, taking the total to 88, with a further new store opening scheduled for Thursday at Papamoa.

Pizza Hut sales fell 11.6% to $12.9m in the third quarter, while on a same store basis the fall was 5.8%.

For the year so far, Pizza Hut sales fell 6.7% to $46.6m, and were down 3.7% on a same store basis.

Two Pizza Hut stores sold during the quarter to independent franchisees were the first in the brand's sell down programme, Restaurant Brands said.

Settlement on three more sale and purchase agreements was expected early in 2011. With the Miramar store closing at lease end, Pizza Hut store numbers dropped by three to 85 at the end of the quarter, and were down seven on last year.

At Starbucks Coffee quarterly sales fell 3.3% to $6.7m, but rose 1% on a same store basis.

Year-to-date Starbucks sales were down 3.6% to $22.2m, but up 0.6% same store.

An underperforming store in Ponsonby was closed during the quarter, taking Starbucks numbers to 38, down three from a year earlier.

NZPA

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