Restaurant Brands’ Full Year Sales Up 7.2%

6/03/2019 9:28:22 PM

>

Restaurant Brands’ total sales for the 12 months ended 25 February 2019 were $794.0 million, up 7.2% on the prior year.
 
Restaurant Brands’ Chairman Ted van Arkel expressed the Board’s satisfaction with this result, particularly the sales achieved by the KFC and Taco Bell brands that have been earmarked for future expansion.
 
New Zealand operations generated sales of $419.8 million, down 0.4% on a total basis mainly as a result of the sale of Starbucks Coffee in October 2018, and up 2.7% on a same store basis. Australian KFC outlets produced sales of $NZ191.5 million, up 27.8% on a total basis with a full year’s trading from last year’s acquisitions, and 4.7% on a same store basis (local currency). Hawaiian operations generated sales of $NZ182.7 million, up 4.1% on a total basis and 2.0% on a same store basis (local currency).
 
Restaurant Brands’ total sales during the fourth quarter of the financial year (12 weeks ended 25 February 2019) were $181.6 million, an increase of $0.2 million or 0.1% on the equivalent period last year.
 
Total company store numbers were down by 31 on the equivalent period last year to 283, primarily because of the sale of the 22 Starbucks Coffee stores in October and the sale of eight New Zealand Pizza Hut stores to independent franchisees.
 
KFC New Zealand
Full year sales for KFC New Zealand were $336.5 million, an increase of 5.3% in total and up 4.3% on a same store basis.
 
Fourth quarter sales for KFC New Zealand were $80.1 million, an increase of 5.7% on the equivalent period last year and up 5.6% on a same store basis for this quarter.
Store numbers remained steady at 94 during the quarter.
 
Pizza Hut New Zealand
 
Full year sales for Restaurant Brands-owned Pizza Hut stores were $35.4 million, a decrease of 14.0% in total, and down 6.1% on a same store basis.
Total fourth quarter sales for Restaurant Brands-owned Pizza Hut stores were $7.3 million, a decrease of 18.5% on the equivalent period last year. Same store sales for the quarter decreased by 9.4%.
 
Restaurant Brands-owned store numbers increased by one during the quarter and down by six from last year to 30, primarily due to eight Pizza Hut stores being sold to independent franchisees. There are now 68 Pizza Hut stores operated by independent franchisees, with the total network at 98 stores.
Network total sales for the full year were $101.0 million, an increase of 0.2%. Network sales for the quarter were $22.0 million, a decrease of 3.4%.
 
Starbucks Coffee
 
Full year sales for Starbucks Coffee were $16.0 million, an increase of 4.0% on a same store basis.
 
The 22 Starbucks Coffee stores were sold on 23 October 2018.
 
Carl’s Jr.
 
Full year sales for Carl’s Jr. were $31.9 million, a decrease 8.8% on a total basis and 3.3% on a same store basis.
 
Total Carl’s Jr. sales for the fourth quarter were $7.4 million, a decrease of 7.4% on the equivalent period last year with the network having one less store than last year. Same store sales for the quarter were down by 1.5%.
 
Store numbers remained steady at 18 during the quarter.
 
KFC Australia
 
Full year sales for KFC Australia were $A178.3 million ($NZ191.5 million), an increase of 27.8% on a total basis and 4.7% on a same store basis (local currency).
 
Fourth quarter sales for KFC Australia were $A41.9 million ($NZ43.9 million), an increase of 7.2% on a total basis and 6.9% on a same store basis (local currency).
 
Store numbers decreased by one to 61 stores during the quarter with the closure of a store following the opening of a replacement store in Bondi last quarter.
 
Taco Bell Hawaii
 
Full year sales for Taco Bell were $US72.3 million ($NZ106.0 million), an increase of 5.9% on a total basis and 5.1% on a same store basis (local currency).
 
Total Taco Bell sales for the fourth quarter were $US16.9 million ($NZ24.8 million), an increase of 5.6% on a total basis and 6.5% on a same store basis (local currency).
 
Store numbers remained steady at 36 during the quarter, and reduced by one on last year with the closure of the Taco Bell Pearlridge store due to the lease expiring.
 
Pizza Hut Hawaii
 
Full year Pizza Hut Hawaii sales were $US52.4 million ($NZ76.7 million), an increase of 1.8% on a total basis and a decrease of 2.1% on a same store basis (local currency).
 
Total Pizza Hut Hawaii sales for the fourth quarter were $US12.3 million ($NZ18.0 million), a decrease of 2.1% on a total and same store basis (local currency).
 
Store numbers reduced by one to 44 during the quarter with the closure of the Pizza Hut Kona store due to the lease expiring.

Full Year Result

Restaurant Brands will be announcing its full year trading results on Tuesday 16 April.