Restaurant Brands sees positive same-store sales in NZ
Despite nearly three weeks of delivery and drive-through trading only, Restaurant Brands’ same-store sales in New Zealand were up 3 per cent for the quarter.
KFC and Carl’s Jr.’s strong performance after the government lifted its Covid-19 restrictions helped boost the company’s same-store sales for the three months to June 30.
Total sales, however, fell $76.6 million, a decrease of 28.8 per cent on the equivalent period last year, as a result of the government-mandated full-store closures to stem the spread of the coronavirus during April.
Year to date sales for New Zealand were $174.6 million, a decrease of 15.7 per cent in total, but up 2.7 per cent on a same store basis.
Store numbers in the country increased by two during the quarter to 150, with openings of a KFC in Christchurch CBD and a Taco Bell in Auckland CBD.
Restaurant Brands’ total sales for the second quarter were $183.3 million, an 11 per cent decrease of $22.6 million from the previous corresponding period primarily due to the full closure of the New Zealand stores for most of April.
Total year to date sales were $383.4 million, a 3.2 per cent decrease on the prior year; however on a same store basis, removing the impact of stores closed because of the Covid-19 crisis, all divisions recorded growth despite these disruptions.
In Australia, Restaurant Brands’ second quarter sales saw a 0.6 per cent drop to A$45.7 million (NZ$48.8 million), arising from the ongoing unavailability of instore dining due to local Covid-19 restrictions. On a same store basis sales were down 1.3 per cent.
Year to date sales for Australia were A$94.4 million (NZ$99.1 million), a 6.1 per cent increase on a total basis due to new store openings late last year and up 0.3 per cent on a same store basis (local currency).
In the US, second quarter sales were $35.6 million ($NZ57.9 million), an 8.0 per cent increase on a total basis and 8.1 per cent on a same store basis (local currency).
A small downturn in Taco Bell sales arising from the ongoing unavailability of instore dining (due to local Covid-19 restrictions) was more than offset by strong Pizza Hut sales which benefited from newly enhanced web order and delivery functions.
Year to date sales were $68.7 million ($NZ109.7 million), an increase of 7.2 per cent on a total basis and 8.0 per cent on a same store basis (local currency).
The company said it is expecting to release its half year trading results on September 8.
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