Restaurant Brands’ Third Quarter Sales up 45.1%

18/12/2017 4:05:11 AM

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Restaurant Brands' total sales during the third quarter of the financial year (12 weeks ended 4 December 2017) were $173.3 million, an increase of 45.1% or $53.9 million on the equivalent period last year.

The bulk of the increase ($39.2 million) came from the 37 Taco Bell and 45 Pizza Hut outlets in Hawaii, Guam and Saipan acquired in March 2017. A further $10.8 million came from newly acquired KFC stores in Australia with $3.9 million from New Zealand operations.

Group same store sales for the quarter were up 6.2% with New Zealand operations up 4.7% and Australia up 11.4%.

Year to date sales were $559.5 million, an increase of 49.0% over the prior year on a total basis, and up 6.6% on a same store basis.

Total company store numbers were up by 96 on the equivalent period last year to 310, primarily from the 82 store Hawaiian acquisition and a further 17 KFC stores acquired in Australia.

KFC New Zealand
Third quarter sales for KFC New Zealand were $73.5 million, an increase of 7.6% on the equivalent period last year on a total sales basis and up 5.6% on a same store basis.
Year to date sales for KFC New Zealand were $243.9 million, an increase of 8.0% on a total sales basis and up 6.6% on a same store basis.
Store numbers increased by one to 93 during the quarter with the opening of a new concept design in Fort Street Auckland. Store numbers were also one up on the same period last year.

Pizza Hut New Zealand
Total third quarter sales for Restaurant Brands-owned Pizza Hut stores were $9.3 million, a decrease of 2.5%on the equivalent period last year, due to having two less stores because of sales to independent franchisees in previous quarters. Same store sales for the quarter increased by 5.5%.

Year to date sales for Restaurant Brands-owned Pizza Hut stores were $32.1 million, an increase of 1.9% on a total basis, and up 9.1% on a same store basis.

Company owned store numbers remained steady during the quarter at 34 stores. There are now 61 Pizza Huts operated by independent franchisees, bringing the total network to 95 stores.

Network total sales for the quarter were $23.1m, an increase of 8.2%. Year to date network total sales were $78.0 million, an increase of 11.1%.

Starbucks Coffee
Starbucks Coffee total sales for the third quarter were $6.0 million, a 5.9% decrease on the equivalent
period last year. Same store sales for the quarter were up 6.4%.

Year to date sales for Starbucks Coffee were $19.4 million, an increase of 6.5% on a same store basis.

There were 23 stores trading over the quarter, one down on prior year.

Carl’s Jr.
Total sales for the third quarter were $8.1 million, down 7.8% following the closure of the Otahuhu
store at the end of last year. On a same store basis sales were down by 5.2%.

Year to date sales for Carl’s Jr. were $26.9 million, a decrease of 3.2% on a same store basis.

Store numbers remained constant at 19 during the quarter, one down on prior year.

KFC Australia
Restaurant Brands started the year with 42 KFC stores in New South Wales, Australia.
During the first quarter the company acquired five KFC stores from independent franchises.
Three independent franchise and eight Yum! KFC stores were acquired in the third quarter along with a store
opening bringing store numbers to 59.

The 59 stores contributed $A33.7 million ($NZ37.3 million) in total sales during the third quarter, up
5.9% on a same store basis for the quarter.

Year to date sales for KFC Australia were $A100.5 million ($NZ109.1 million), an increase of 5.9% on a
same store basis.

Taco Bell and 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 $US27.3 million ($NZ39.2 million) in total sales in the third quarter.

Year to date sales for the 39 weeks since acquisition were $US91.2 million (NZ$128.1 million).

Of the 82 stores, the Taco Bell and Pizza Hut stores located at Pearl Harbour are temporarily closed
due to ongoing infrastructure work on the base and are scheduled to reopen in March 2018.