RBD
12/12/2014 09:38
QUARTER
PRICE SENSITIVE
REL: 0938 HRS Restaurant Brands New Zealand Limited
QUARTER: RBD: Restaurant Brands Third Quarter Sales
12 December 2014
NZX
Restaurant Brands' Third Quarter Sales up 6.4%
Restaurant Brands' total sales during the third quarter of the financial year
(12 weeks ended 1 December 2014) were $81.1 million, an increase of 6.4% or
$4.9 million on the equivalent period last year.
Of the total increase, KFC was the key contributor at $5.4 million, driven by
strong same store sales.
Same store sales for the company were up 7.5%, led by KFC which grew 10.8%.
Starbucks Coffee was up 4.9% and Pizza Hut up 5.8%. Carl's Jr. was down 28.9%
as it rolled over very high new store opening sales in the eight stores open
in the prior year.
KFC
Total sales for KFC increased by 9.8% or $5.4 million to $60.7 million over
the quarter (compared with a decrease of 0.1% the year before).
Same store sales were up by 10.8%. The strong sales continue to be driven by
the new menu, in particular around family meals, increased marketing spend
and revised store opening hours. Successful promotions in the quarter were
the Colonel's Stack burger (a burger created and voted for by KFC customers)
and the Surf Life Saving Bucket campaign.
Year to date sales for KFC were $197.8 million, an increase of 7.2% in total
and up 7.7% on a same store basis.
Store numbers increased by one during the quarter to 91 with the purchase of
the KFC in Oamaru, previously owned by an independent franchisee.
Pizza Hut
Total sales for Pizza Hut at $10.9 million were 1.6% down on last year
(compared with a 0.4% decrease in the prior year). This result is with five
fewer stores as the company continued its strategy of selling regional and
lower volume stores to independent franchisees.
Same store sales for the quarter increased by 5.8% on top of a 12.7% growth
in the same quarter of the prior year. During the quarter the brand launched
a revised menu, offering the consumer greater choice by adding a third range
of pizzas. The most successful promotion of the quarter was the Mexican
Flavour Fiesta range.
Year to date sales for Pizza Hut were $37.4 million, down 0.7% on a total
basis but up 7.5% on a same store basis.
There were 47 company stores at the end of the quarter versus 52 in the prior
year. There are also now 40 Pizza Hut stores operated by independent
franchisees. The Belmont and Browns Bay stores were sold to independent
franchisees during the quarter.
Starbucks Coffee
Starbucks Coffee total quarterly sales were $5.9 million, up $0.1 million or
1.0%, despite having one store less than the prior year.
Same store sales were up 4.9% (rolling over a 7.7% increase in the prior
year). This is a continuation of the growth in sales that has been driven by
better value and improved customer experience initiatives implemented over
the past two years.
Year to date sales for Starbucks Coffee were $19.1 million, an increase of
1.7% on a total basis and up 5.0% on a same store basis.
Store numbers remained steady during the quarter at 26.
Carl's Jr.
Total Carl's Jr. sales for the quarter were down 9.6% to $3.6 million with
same store sales down 28.9%. No new stores opened in the quarter, whilst the
same period last year benefitted from strong initial opening sales at
Auckland International Airport, Hastings and Otahuhu.
The brand has consolidated at post initial opening sales levels and is in a
phase of building awareness and loyalty across the total network, which
comprised 16 stores at the end of the quarter.
The company opened a new Carl's Jr. store in Manukau in the first week of the
fourth quarter and plans to open a store in Albany before the end of this
fiscal year. Already advised to the market is the acquisition of seven
independently owned Auckland stores which was settled on the 9th of December
2014.
For further information please contact
Russel Creedy Grant Ellis
CEO CFO/Company Secretary
Phone: 525 8710 Phone: 525 8710
ENDS
Summary of Results for the 3rd Quarter (Q3)
(for the 12 weeks 09/09/2014 to 01/12/2014)
2014/15 ($000's) 2013/14 ($000's) % change
Q3 2014/15 vs Q3 2013/14
Total Store Sales - KFC 60,716 55,319 9.8%
Total Store Sales - Pizza Hut 10,866 11,045 -1.6%
Total Store Sales - Starbucks Coffee 5,902 5,841 1.0%
Total Store Sales - Carl's Jr. 3,589 3,971 -9.6%
Total Store Sales 81,073 76,176 6.4%
Same Store Sales - KFC 59,002 53,233 10.8%
Same Store Sales - Pizza Hut 10,862 10,271 5.8%
Same Store Sales - Starbucks Coffee 5,897 5,623 4.9%
Same Store Sales - Carl's Jr. 2,823 3,971 -28.9%
Total Same Store Sales 78,584 73,098 7.5%
YTD 2014/15 vs YTD 2013/14
Total Store Sales - KFC 197,824 184,583 7.2%
Total Store Sales - Pizza Hut 37,352 37,622 -0.7%
Total Store Sales - Starbucks Coffee 19,130 18,816 1.7%
Total Store Sales - Carl's Jr. 12,435 10,599 17.3%
Total Store Sales 266,741 251,620 6.0%
Same Store Sales - KFC 193,399 179,575 7.7%
Same Store Sales - Pizza Hut 37,329 34,710 7.5%
Same Store Sales - Starbucks Coffee 19,056 18,148 5.0%
Same Store Sales - Carl's Jr. 6,976 10,598 -34.2%
Total Same Store Sales 256,760 243,031 5.6%
NUMBER OF STORES OPEN AT QUARTER END
Qtr End no of Stores - KFC 91 90 1
Qtr End no of Stores - Pizza Hut 47 52 -5
Qtr End no of Stores - Starbucks Coffee 26 27 -1
Qtr End no of Stores - Carl's Jr. 9 8 1
Total Stores 173 177 -4
End CA:00258819 For:RBD Type:QUARTER Time:2014-12-12 09:38:27
