Summer sales growth for Restaurant Brands

By Phil Boeyen, ShareChat Business News Editor

Tuesday 5th March 2002

Restaurant Brands (NZSE: RBD) appears to be benefiting from a strong domestic economy with latest quarterly sales figures showing growth in all its franchises.

The fast food company reports that for the 12 weeks ended February 25 it had total sales of $63.2 million compared to $57.7 million the previous year. Due to a change in balance date to the end of February, the company is reporting a fifth quarter for the current financial year.

Chief executive, Jim Collier, says the latest figures show that all three brands are sustaining the growth they experienced in the second half of 2001.

"Total KFC sales were up 5%, Pizza Hut grew by 10.7% and Starbucks Coffee increased 65.1%. Same store sales growth was also strong for the company's two major brands, with KFC up 5% and Pizza Hut up 4.7%.

"KFC same store growth continues the solid results seen in 2001 as a result of ongoing growth in the takeaway food category and the relaunch and upgrade of the chicken burger range."

Mr Collier says a change in format to home delivery and takeaway is also continuing to produce positive results at Pizza Hut.

At coffee franchise Starbucks sales for the fifth quarter grew by 65.1% to $5 million but the company says same store sales fell by 7.4% due to cannibalisation in some existing stores arising from new store openings.

Comments from our readers

No comments yet