Restaurant Brands Delivers Strong First Quarter Same Store Sales Growth

29/05/2019 11:07:00 PM

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Restaurant Brands Delivers Strong First Quarter Same Store Sales Growth Across All Three Divisions
 
Restaurant Brands’ total sales for the first quarter of the financial year (12 weeks to 20 May 2019) were $182.8 million, an increase of $2.8 million or 1.6% on the equivalent period last year. Each of its operating divisions of New Zealand, Australia and Hawaii produced solid same store sales growth of +4.9%, +6.0% and +8.4% respectively.
 
New Zealand operations generated sales of $96.0 million, down 1.5% on a total basis mainly as a result of the sale of the Starbucks Coffee business in October 2018, but up 4.9% on a same store basis. Australian KFC outlets produced sales of $NZ42.8 million, constant on a total basis, and up 6.0% on a same store basis (local currency). Hawaiian operations generated sales of $NZ44.0 million, up 10.6%on a total basis and 8.4% on a same store basis (local currency).
 
Total company store numbers were down by 22 on the equivalent period last year to 287, primarily from the sale of the 22 Starbucks Coffee stores in October 2018.
 
KFC New Zealand
 
First quarter sales for KFC New Zealand were $80.0 million, an increase of 6.7% on the equivalent period last year and up 5.2% on a same store basis for this quarter.
 
Store numbers increased by three to 97 during the quarter with opening of stores at Bombay (south of Auckland), Courtenay Place in Wellington (in the new CBD format) and Tauranga Crossing.
 
Pizza Hut New Zealand
 
First quarter sales for Restaurant Brands-owned Pizza Hut stores were $7.7 million, a decrease of 16.1% on the equivalent period last year. Same store sales for the quarter decreased by 4.6%.
 
Restaurant Brands-owned store numbers increased by one during the quarter and were down by two from last year to 31, as the brand continues to build and sell stores to independent franchisees. There are now 69 Pizza Hut stores operated by independent franchisees, with the total network at 100 stores.
 
Network sales for the quarter were $22.6 million, a decrease of 3.1% on the equivalent period last year.
 
Starbucks Coffee
 
The 22 Starbucks Coffee stores were sold during October 2018.
 
Carl’s Jr.
 
Total Carl’s Jr. sales for the first quarter were $8.3 million, an increase of 9.5% on the equivalent
period last year following the introduction of delivery via the UberEats platform. Same store sales for the quarter were up by 11.8%.
 
Store numbers remained steady at 18 during the quarter.
 
KFC Australia
 
First quarter sales for KFC Australia were $A40.7 million ($NZ42.8 million), an increase of 1.9% on a total basis despite temporary closures for store refurbishments, and up 6.0% on a same store basis (local currency).
 
Store numbers remained constant at 61 during the quarter.
 
Taco Bell Hawaii
 
Total Taco Bell sales for the first quarter were up strongly to $US17.4 million ($NZ25.9 million) with some successful promotions. This was an increase of 8.0% on a total basis and 12.6% on a same store basis (local currency).
 
Store numbers remained steady at 36 during the quarter.
 
Pizza Hut Hawaii
 
Pizza Hut Hawaii also gained some sales momentum with sales for the first quarter of $US12.3 million ($NZ18.2 million), an increase of 0.1% on a total basis and up 3.1% on a same store basis (local currency).
 
Store numbers remained unchanged at 44 during the quarter.


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