Mixed results for Restaurant Brands

Pizza HutNew Zealand’s fast food chain operator Restaurant Brands has increased total sales during the fourth quarter of the financial year (13 weeks ended March 2, 2015) by 10.6 per cent or $8.2 million on the equivalent 12 week quarter in the prior year.

Fourth quarter sales came in at  $92.8 million. Of the total equivalent increase, KFC contributed $5.3 million, driven by strong same store sales, while Carl’s Jr. contributed a further $3.3 million, mostly from the acquisition of seven Auckland-based Carl’s Jr. stores.

Same store sales were up 5.7 per cent, led by KFC, which grew 7.5 per cent. Starbucks Coffee grew 5.3 per cent and Pizza Hut 1.7 per cent.

Carl’s Jr. was down 11.4 per cent on a same store basis as the brand continued to roll over high store opening sales experienced in the prior year.

KFC

Total sales for KFC were $67.2 million, up 9.3 per cent or $5.3 million on the equivalent 12 week period last year. This is rolling over an increase of five per cent the year before.

Same store sales were up by 7.5 per cent. The strong sales were driven by a new menu, increased marketing spend, and longer store opening hours.

Full year sales for KFC over the 53 week period were $265 million, an increase of 7.7 per cent on the equivalent 52 week period in the prior year and up 7.7 per cent on a same store basis.

Pizza Hut

Total sales for Pizza Hut were $11 million for the quarter, a decrease of 5.3 per cent on the equivalent 12 week period last year and compared with a 1.2 per cent decrease in the prior year.

This result is despite having five fewer stores as Pizza Hut continues its strategy of selling lower volume stores to independent franchisees.

Same store sales for the quarter increased by 1.7 per cent on top of 8.9 per cent growth in the same quarter of the prior year. Full year sales for Pizza Hut over the 53 week period were $48.4 million, down 1.7 per cent on the equivalent 52 week period last year, but up 6.3 per cent on a same store basis.

Starbucks

Starbucks’ total quarterly sales were $6.9 million, up $0.2 million or 2.9 per cent on the equivalent 12 week period last year, despite having one store less than the prior year.

Same store sales increased 5.3 per cent, rolling over a 7.5 per cent increase in the prior year. This is a continuation of the growth in sales driven by better value and improved customer experience initiatives implemented over the past two years.

Full year sales for Starbucks Coffee over the 53 week period were $26.1 million, an increase of two per cent on the equivalent 52 week period last year and up 5.1 per cent on a same store basis.

Store numbers remained steady during the quarter at 26, but down one on prior year.

Carl’s Jr.

Total Carl’s Jr. sales for the 13 weeks of the quarter were $7.6 million, an increase of 88.7 per cent on the equivalent 12 week period last year, with same store sales down 11.4 per cent.

The company opened a store in Manukau and acquired seven independent Auckland stores in December 2014. A further store was opened in Albany in the last week of the fiscal year.

Full year sales for Carl’s Jr. over the 53 week period were $20.1 million, an increase of 35.8 per cent on the equivalent 52 week period last year, but down 28.3 per cent on a same store basis.

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