New-look stores and a new product range for the KFC fast food chain continued to drive sales growth for Restaurant Brands in the third quarter.
The NZX listed company - which operates the KFC, Starbucks and Pizza Hut brands - yesterday reported total sales of $67.8 million for the three months to December 4, an increase of 2.7 per cent on the same period last year. Same-stores sales were up by 3.6 per cent.
KFC was the star, showing total sales growth of 7.8 per cent - to $42 million - and a same-stores sales increase of 10.9 per cent.
Signs of the turnaround were there in the last few quarters but “for the market this is real proof”, said chief executive Vicki Salmon.
But Pizza Hutt stores continued to disappoint. Sales declined 9.8 per cent on the same period a year earlier to $18.4 million. They were also down 10.9 per cent on a same-store basis.
The final figures looked worse compared to last year, when Pizza Hutt had delivered record results, although sales had stabilised in the last quarter, Salmon said.
But the year had been a tough one, with increased competition and an economy-driven slowdown of first-half sales.
There was still work to be done on the Pizza Hutt brand, she said. A KFC-style makeover was likely.
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