Restaurant Brands' Full Year Sales Exceed $740 Million, up 49%

7/03/2018 11:29:04 PM

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Restaurant Brands’ total sales for the 12 months ended 26 February 2018 were $740.8 million, up 49.0% on the prior year.

Restaurant Brands’ Chairman Ted van Arkel expressed the Board’s satisfaction with this result which was a further milestone towards the company’s $1 billion annual sales objective.

New Zealand operations generated sales of $421.4 million, up 5.4% on a total basis and 5.6% on a same store basis. Australian KFC outlets produced sales of $151.8 million, up 56.2% on a total store basis, and 8.6% on a same store basis. Hawaiian operations generated sales of $167.5 million from the 82 stores acquired in March 2017.

Restaurant Brands' total sales during the fourth quarter of the financial year (12 weeks ended 26 February 2018) were $181.3 million, an increase of 49.1% or $59.7 million on the equivalent period last year.

The bulk of the quarterly increase ($39.4 million) came from the 37 Taco Bell and 45 Pizza Hut outlets in Hawaii, Guam and Saipan acquired in March 2017. A further $15.6 million came from newly acquired KFC stores in Australia with $4.7 million from New Zealand operations.

Group same store sales for the quarter were up 5.1% with New Zealand operations up 4.5% and Australia up 6.8%.

Total company store numbers were up by 102 on the equivalent period last year to 314, primarily from the 82 store Hawaiian acquisition and a further 18 KFC stores acquired in Australia.

KFC New Zealand

Full year sales for KFC New Zealand were $319.6 million, an increase of 7.8% on a total sales basis and up 6.2% on a same store basis.

Fourth quarter sales for KFC New Zealand were $75.7 million, an increase of 7.1% on the equivalent period last year on a total sales basis and up 5.0% on a same store basis.

Store numbers increased by one to 94 during the quarter with the opening of a new store at Christchurch Airport. Store numbers were two up on the same period last year.

Pizza Hut New Zealand

Full year sales for Restaurant Brands-owned Pizza Hut stores were $41.1 million, an increase of 1.5% on a total basis, and up 8.1% on a same store basis.

Total fourth quarter sales for Restaurant Brands-owned Pizza Hut stores were $9.0 million, an increase of 0.2% on the equivalent period last year, because of sales of stores to independent franchisees in previous quarters. Same store sales for the quarter increased by 4.5%.

Network total sales for the full year were $100.7 million, an increase of 10.0%. Network total sales for the quarter were $22.8m, an increase of 6.4%.

Company owned store numbers increased by two during the quarter to 36, with the opening of new stores at Tamatea and Glenfield Mall. There are now 61 Pizza Huts operated by independent franchisees, bringing the total network to 97 stores.

Starbucks Coffee

Full year sales for Starbucks Coffee were $25.8 million, an increase of 6.3% on a same store basis.

Starbucks Coffee total sales for the fourth quarter were $6.4 million, a 2.1% decrease on the equivalent period last year. Same store sales for the quarter were up 5.7%.

Store numbers decreased by one to 22 with the closure of the Newmarket store due to the rebuilding of the mall, and two down on prior year.

Carl’s Jr.

Full year sales for Carl’s Jr. were $34.9 million, a decrease of 2.6% on a same store basis.

Total sales for the fourth quarter were $8.0 million, down 2.5% following the closure of the Otahuhu store at the end of last year. On a same store basis sales were down by 0.4%.

Store numbers remained constant at 19 during the 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 one new store opening. During the fourth quarter an additional two Yum! KFC stores were acquired, bringing store numbers to 61.

Full year sales for KFC Australia were $A139.5 million ($NZ151.8 million), an increase of 50.9% on a total store basis and 4.9% on a same store basis.

The 61 stores contributed $A39.1 million ($NZ42.7 million) in total sales during the fourth quarter, up 2.4% 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 sales of $US119.8 million (NZ$167.5 million) for the 51 weeks since acquisition.

Total sales for the fourth quarter were $US28.6 million ($NZ39.4 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 April 2018.