New KFC stores in Australia helped lift Restaurant Brands’s Q2 sales by 11.6 per cent, offsetting flat or negative growth in the New Zealand company’s other food businesses.
Restaurant Brands’ total sales for the quarter reached $229 million, up from $204 million in the previous corresponding period, while year-to-date sales reached $394 million.
KFC Australia, the company’s sole Australian business, generated $55 million in sales, an increase of 41.9 per cent on a total basis, and 4.8 per cent on a same-store basis.
KFC Australia has opened one new store and acquired 13 stores in the financial year to date, with total store numbers reaching 61 during the quarter.
The fast food chain’s New Zealand sales grew 4.9 per cent in the quarter to $95 million, contributing to $164 million for the year to date – a 5.3 per cent increase year-over-year. KFC New Zealand stores remained steady at 94.
Restaurant Brands closed four Pizza Hut New Zealand stores in the period and saw sales fall 14.4 per cent to $10 million in the quarter.
The NZ pizza chain has brought in $18.7 million in sales so far this year, which marks a 10.5 per cent drop from the previous corresponding period.
Restaurant Brands’s other New Zealand brands, Starbucks and Carl’s Jr, brought in $6.6 million and $9 million for the quarter, respectively. This was on par with Starbucks’s sales in the previous corresponding period, while a drop of 7.3 per cent for Carl’s Jr.
Restaurant Brands earlier this month sold its licence for Starbucks to Tahua Capital after introducing the chain to New Zealand 20 years ago.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.
