Restaurant Brands’ First Quarter Sales up 67%

2/06/2017 2:00:00 p.m.

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Restaurant Brands' total sales during the first quarter of the financial year (12 weeks ended 22 May 2017) were $161.2 million, an increase of 66.9% or $64.6 million on the equivalent period last year.

New Zealand operations generated sales of $94.8 million, up 7.1%, with an additional $21.6 million from the 47 KFC outlets in Australia (majority acquired in April 2016), and $36.7 million from the 37 Taco Bell and 45 Pizza Hut outlets in Hawaii, Guam and Saipan (acquired in March 2017).

Group same store sales for the quarter were up 7.2% with KFC New Zealand up 7.1%, Pizza Hut New Zealand up 11.3%, Starbucks Coffee up 9.8%, Carl’s Jr. slightly down at -0.3% and KFC Australia up 8.6%.

Total company store numbers were up by 83 on the equivalent period last year to 298 mainly because of the Hawaiian acquisition of 82 stores and the purchase of an additional five Australian KFC outlets in March 2017.

KFC New Zealand

  • For the first quarter sales for KFC New Zealand were $70.9 million, an increase of 8.4% on the equivalent period last year on a total store basis and up 7.1% on a same store basis for this quarter.
  • Store numbers remained steady at 92 during the quarter.

Pizza Hut New Zealand
  • Total first quarter sales for Restaurant Brands-owned Pizza Hut stores were $9.7 million, an increase of 5.1% on the equivalent period last year.
  • Same store sales for the quarter increased by 11.3%.
  • Company owned stores reduced by one during the quarter to 34 versus 35 in the prior quarter with one Pizza Hut store sold to an independent franchisee. There are now 59 Pizza Hut stores operated by independent franchisees, bringing the total network to 93 stores.

Starbucks Coffee
  • Starbucks Coffee total sales for the first quarter were $6.1 million, a 2.3% increase on the equivalent period last year. Same store sales for the quarter were up 9.8%.
  • There were 24 stores trading at the end of the quarter.

Carl’s Jr.
  • Total sales for the first quarter were $8.1 million, up 2.0% on the equivalent period last year, and slightly down on a same store basis by -0.3% due to strong sales in the equivalent period last year following two new store openings in Christchurch.
  • Store numbers remained constant at 19 during the quarter.

KFC Australia
  • On 27 April 2016 Restaurant Brands acquired 42 KFC stores in New South Wales, Australia.
  • During the first quarter the company acquired another 5 independent KFC franchise stores.
  • The 47 acquired stores contributed AUD$27.6 million (NZD$29.7 million) in total sales during the quarter.
  • Same stores increased 7.7% (in AUD) over the equivalent 26 days last year that Restaurant Brands owned the Australian KFC outlets.

Taco Bell / Pizza Hut Hawaii
  • On 7 March 2017 Restaurant Brands acquired 37 Taco Bell and 45 Pizza Hut stores in Hawaii, Guam and Saipan.
  • The 82 acquired stores contributed USD$25.7 million (NZD$36.7 million) in total sales in the eleven weeks since acquisition.