Restaurant Brands’ Second Quarter Sales Up 11.6%

20/09/2018 12:50:06 AM

>

Restaurant Brands’ total sales for the second quarter of the financial year (16 weeks to 10 September 2018) were $251.0 million, an increase of 11.6% or $26.1 million on the equivalent period last year.
 
New Zealand operations generated sales of $132.8 million, up 1.7% on a total basis and 2.4% on a same store basis. Australian KFC outlets produced sales of $NZ60.6 million, up 43.7% on a total basis, and 4.8% on a same store basis (local currency). Hawaiian operations generated sales of $NZ57.6 million, up 10.4% on a total basis and 2.0% on a same store basis (local currency).
 
Year to date sales were $431.0 million, an increase of 11.6% over the prior year on a total basis.
Total company store numbers were up by eight on the equivalent period last year to 305, primarily from the acquisition of a further 13 KFC stores in Australia offset by the sale of five New Zealand Pizza Hut stores to independent franchisees.
 
KFC New Zealand
 
Total second quarter sales for KFC New Zealand were $104.3 million, an increase of 4.9% on the equivalent period last year and up 3.5% on a same store basis for this quarter.
Year to date sales for KFC New Zealand were $179.3 million, an increase of 5.3% in total and up 3.8% on a same store basis.
 
Store numbers remained steady at 94 during the quarter.
 
Pizza Hut New Zealand
 
Total second quarter sales for Restaurant Brands-owned Pizza Hut stores were $11.3 million, a decrease of 14.4% on the equivalent period last year. Same store sales for the quarter decreased by 4.8%.
 
Year to date sales for Restaurant Brands-owned Pizza Hut stores were $20.5 million, a decrease of 10.5% in total, and down 4.9% on a same store basis.
 
Restaurant Brands-owned stores reduced by four during the quarter to 29 as four Pizza Hut stores were sold to independent franchisees. There are now 69 Pizza Hut stores operated by independent franchisees, with the total network at 98 stores.
 
Network total sales for the quarter were $32.5 million, an increase of 2.1%. Year to date network total sales were $55.8 million, an increase of 1.7%.
 
Starbucks Coffee
 
Starbucks Coffee total sales for the second quarter were $7.3 million, consistent with the equivalent period last year despite the network having one less store. Same store sales for the quarter were up 5.2%.
 
Year to date sales for Starbucks Coffee were $13.0 million, an increase of 3.8% on a same store basis.
 
Store numbers remained steady at 22 during the quarter.

Carl’s Jr.
 
Total Carl’s Jr. sales for the second quarter were $9.9 million, a decrease of 7.3% on the equivalent period last year with the network having one less store. Same store sales for the quarter were down by 1.3%.
 
Year to date sales for Carl’s Jr. were $17.5 million, a decrease of 2.0% on a same store basis.
Store numbers remained steady at 18 during the quarter.
 
KFC Australia
 
Second quarter sales for KFC Australia were $A55.6 million ($NZ60.6 million), an increase of 41.9% on a total basis and 4.8% on a same store basis (local currency).
 
Year to date sales for KFC Australia were A$95.5 million ($NZ103.4 million), an increase of 43.1% on a total basis and 4.5% on a same store basis (local currency).
 
Store numbers remained steady at 61 stores during the quarter. Store numbers were 14 up on last year from the acquisition of 13 stores and one new store opening.
 
Taco Bell Hawaii
 
Total Taco Bell sales for the second quarter were $US22.5 million ($NZ33.5 million), an increase of 2.5% on a total basis and 4.8% on a same store basis (local currency).
 
Year to date sales for Taco Bell were $US38.6 million ($NZ56.1 million), an increase of 5.5% on a total basis and 3.2% 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
 
Total Pizza Hut Hawaii sales for the second quarter were $US16.2 million ($NZ24.1 million), a decrease of 0.1% on a total basis and 1.8% on a same store basis (local currency).
 
Year to date Pizza Hut Hawaii sales were $US28.4 million ($NZ41.3 million), an increase of 4.4% on a total basis and a decrease of 2.0% on a same store basis (local currency).
 
Store numbers remained steady at 45 during the quarter. During last year a new store opened at Mall Stadium to replace the Pizza Hut Pearlridge store which closed due to the lease expiring.
 
Half Year Results
 
The financial results for the first half year will be released on 18 October 2018.