RBD
12/12/2012 09:34
QUARTER
REL: 0934 HRS Restaurant Brands New Zealand Limited
QUARTER: RBD: Restaurant Brands' Third Quarter Sales
12 December 2012
NZX
Restaurant Brands' Third Quarter Sales up 0.5%
Restaurant Brands' total sales across the company's four brands - including
Carl's Jr for the first time - for the third quarter (12 weeks ended 3rd
December 2012) were $72.2 million, an increase of 0.5% or $0.3 million on the
equivalent period last year. Same store sales for the company increased by
3.2%.
KFC total sales increased 0.5% in the quarter. Starbucks sales decreased
6.9% but Pizza Hut sales were 3.5% higher than last year despite having 11
less stores at quarter end compared to the equivalent period last year.
Restaurant Brands opened the first of its Carl's Jr stores in Mangere late in
the quarter and in five days of trading produced sales of $90,000. A second
store will be opening in Palmerston North shortly after the quarter end.
KFC same store sales saw a 1.2% increase. Starbucks had a same store decline
of 2.8% but Pizza Hut saw a significant increase of 18.3%.
Year to date total sales are $238.9 million, up $0.6 million (0.2%) on the
prior year and for the year to date same store sales were up 1.3% or $2.9
million on the prior year.
KFC
KFC sales increased 0.5% or $0.3 million over the prior year to $55.4 million
despite rolling over the busy Rugby World Cup period in the prior year.
Same store sales improved by 1.2%. Successful product releases over the
third quarter included the launch of Sweet Sesame Chicken, Surf Variety
Bucket (as part of a partnership arrangement with Surf Lifesaving New
Zealand), as well as the return of old favourites like Hot and Spicy Chicken
and the BLAT Burger.
During the quarter, stores in Glen Innes, Tokoroa and Feilding were closed
temporarily for transformation with Feilding reopening during September and
Glen Innes and Tokoroa reopening during November.
The new relocated KFC Lower Hutt store opened in the early part of the
quarter in September with strong same store sales growth and a new store in
Silverdale opened in October.
Store numbers were increased to 88, one store less than prior year. This was
the same number of trading stores as the prior year as one store in
Christchurch did not trade in the prior year and was subsequently permanently
closed as a result of the earthquake.
Immediately after quarter end, Restaurant Brands acquired the operations of
the previously independently franchised store in Cambridge.
Year to date sales for KFC were $182.8 million, $0.2 million less than the
previous year to date. This was a decrease of 0.1% on a total basis and down
1.3% on a same store basis.
Pizza Hut
Total sales for Pizza Hut at $11.1 million were up $0.4 million compared to
the prior year despite a reduction of 11 stores (15%) by quarter end on the
prior year from the sale of stores to independent franchisees and closures.
Same store sales increased significantly by 18.3%. This quarter's
promotional activity was the continuance of the $4.90 Large Classics Pizza.
This provides a strong value-based entry and headline price point for Pizza
Hut in a very competitive and crowded market. Pizza Hut also extended the
complementing offer of $9.90 Large Favourites Pizza over this quarter.
The same store sales increase is particularly pleasing as it is rolling the
busy Rugby World Cup trading period in the prior year.
Store numbers were reduced by three with the sale of three stores in
Richmond, Lower Hutt and Upper Hutt during the quarter. This brought store
numbers to 60, down 11 on last year. A total of 23 stores are now operated
by independent franchisees with the company operating 60 stores.
Year to date sales for Pizza Hut were $37.0 million, $1.7 million more than
the previous year to date. This was an increase of 4.8% on a total basis and
an increase of 19.2% on a same store basis.
Total Pizza Hut system sales (including those of independent franchisees)
were $46.8 million for the year to date, up 18.6% in total and up 18.7% on a
same store basis.
Starbucks Coffee
Starbucks Coffee total quarterly sales were $5.7 million, down 6.9% on the
prior year. Same store sales were down 2.8% rolling a 6.8% increase in the
prior year.
Changes to the customer offer implemented during the previous quarter,
including revisions to beverage formulations, new food offerings and more
competitive pricing options has seen an improvement in the sales trend
particularly after adjusting for the same store sales increase in the prior
year from the Rugby World Cup period.
During the quarter, three stores located in Johnsonville, The Majestic Centre
and Victoria Street West were closed due to lease end, reducing the store
count by three to 30 stores, down five on last year.
In Christchurch, the Cashel Mall store also remains closed as a result of the
earthquake.
Year to date sales for Starbucks were $19.1 million, $1.0 million less than
the previous year to date. This was a decrease of 5.1% on a total basis and
a decrease of 2.7% on a same store basis.
Carl's Jr
Restaurant Brands opened its first Carl's Jr restaurant in Mangere just prior
to the end of the third quarter. The store made $90,000 of sales in just
five days of trading before the quarter closed and trading since the quarter
closed has continued to be ahead of expectations.
A second Carl's Jr store will open in Palmerston North today and a third
store located in the Metro Centre, Queen St in the Auckland CBD in the new
year.
Further store site evaluations and the development pipeline are well advanced
for several new stores to be opened in the next year.
For further information please contact
Russel Creedy Grant Ellis
CEO CFO/Company Secretary
Phone: 525 8710 Phone: 525 8710
ENDS
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 3rd Quarter (Q3)
(for the 12 weeks 11/9/2012 to 3/12/2012)
Q3 2012/13 ($000's) Q3 2011/12 ($000's) % change
Q3 2012/13 vs Q3 2011/12
Total Store Sales - KFC 55,384 55,101 0.5%
Total Store Sales - Pizza Hut 11,086 10,708 3.5%
Total Store Sales - Starbucks Coffee 5,685 6,106 -6.9%
Total Store Sales - Carl's Jr 90 - n/a
Total Store Sales 72,245 71,915 0.5%
Same Store Sales - KFC 54,819 54,173 1.2%
Same Store Sales - Pizza Hut 11,011 9,307 18.3%
Same Store Sales - Starbucks Coffee 5,682 5,847 -2.8%
Same Store Sales - Carl's Jr - - n/a
Total Same Store Sales 71,512 69,327 3.2%
YTD 2012/13 vs YTD 2011/12
Total Store Sales - KFC 182,826 183,013 -0.1%
Total Store Sales - Pizza Hut 36,970 35,273 4.8%
Total Store Sales - Starbucks Coffee 19,054 20,086 -5.1%
Total Store Sales - Carl's Jr 90 - n/a
Total Store Sales 238,940 238,372 0.2%
Same Store Sales - KFC 179,156 181,544 -1.3%
Same Store Sales - Pizza Hut 36,293 30,457 19.2%
Same Store Sales - Starbucks Coffee 18,936 19,468 -2.7%
Same Store Sales - Carl's Jr - - n/a
Total Same Store Sales 234,385 231,469 1.3%
NUMBER OF STORES OPEN AT QUARTER END
Qtr End no of Stores - KFC 88 89 -1
Qtr End no of Stores - Pizza Hut 60 71 -11
Qtr End no of Stores - Starbucks Coffee 30 35 -5
Qtr End no of Stores - Carl's Jr 1 - 1
Total Stores 179 195 -16
End CA:00231002 For:RBD Type:QUARTER Time:2012-12-12 09:34:20
