Restaurant Brands’ third quarter sales are up 34.7 per cent following its Australian acquisition of KFC outlets earlier this year.
The fast food operator’s total sales were $119.4 million, representing the 34.7 per cent increase or $30.7 million on the equivalent period last year.
The recently acquired 42 KFC outlets in Australia contributed $26.5 million, KFC New Zealand $3.9 million and Carl’s Jr. $1.2 million. Pizza Hut total company sales were down $0.9 million with the sale of five stores to independent franchisees.
The company saw positive same store sales growth for all brands, up 4.1 per cent in total. KFC New Zealand grew 4.2 per cent, Pizza Hut was up 2.4 per cent, Starbucks Coffee up 5.6 per cent and Carl’s Jr. ended the quarter with positive same store sales of 3.5 per cent.
Total company store numbers were up by 38 on the equivalent period last year to 214 with the Australian acquisition, off-set by Pizza Hut store sales to independent franchisees.
Total sales in the quarter for KFC New Zealand were $68.3 million, up 6.0 per cent or $3.9 million on the equivalent period last year. This is rolling over an increase of 6.2 per cent the year before.
Total quarterly sales for Restaurant Brands-owned Pizza Hut stores were $9.5 million, a decrease of 9.1 per cent on the equivalent period last year, due to having five fewer stores as the company continued its strategy of selling stores to independent franchisees.
Same store sales for the quarter increased by 2.4 per cent.
Starbucks Coffee total sales for the quarter were $6.4 million, a slight increase on the equivalent period last year, but with one less store.
Same store sales were up 5.6 per cent.
Year to date sales for Starbucks Coffee were $20.1 million, up 3.9 per cent on a same store basis.
Meanwhile, Sue Suckling has resigned as a director of Restaurant Brands New Zealand and its subsidiary, QSR Pty Limited on Friday last week.
The board of the fast food operator said it had ‘regretfully’ accepted her resignation.
Suckling’s resignation was signalled at the Restaurant Brands AGM back in July by Restaurant Brands Chairman, Ted Van Arkel.
In his address to the meeting, Van Arkel said Suckling (who is re-standing for election by rotation) will be retiring at the end of this year and he wanted to “acknowledge Sue’s contribution over her 10 years on the board, especially in the area of corporate governance.”
