RBD
11/03/2015 09:27
QUARTER
PRICE SENSITIVE
REL: 0927 HRS Restaurant Brands New Zealand Limited
QUARTER: RBD: Restaurant Brands Fourth Quarter Sales
11 March 2015
NZX
Restaurant Brands' Fourth Quarter Sales up 10.6%
Note: Restaurant Brands' results for the 2014/15 financial year are on a 53
week basis vs 52 weeks for the previous year. Because the company normally
uses a 52 week (364 day) year, a "leap year" is occasionally required, hence
an extra week in the fourth quarter. All comparative % and dollar changes in
sales are restated to a 52 week equivalent. Unadjusted and adjusted
comparisons are contained in the appended tables.
Restaurant Brands' total sales during the fourth quarter of the financial
year (13 weeks ended 2 March 2015) were $92.8 million, an increase of 10.6%
or $8.2 million on the equivalent 12 week quarter in the prior year.
Of the total equivalent increase, KFC contributed $5.3 million, driven by
strong same store sales. Carl's Jr. contributed a further $3.3m mostly from
the acquisition of seven Auckland-based Carl's Jr. stores.
Same store sales for the company were up 5.7%, led by KFC which grew 7.5%,
Starbucks Coffee was up 5.3% and Pizza Hut up 1.7%. Carl's Jr. was down
11.4% on a same store basis as the brand continued to roll over high store
opening sales experienced in the prior year.
KFC
Total sales for KFC were $67.2 million, up 9.3% or $5.3 million on the
equivalent 12 week period last year. This is rolling over an increase of
5.0% the year before.
Same store sales were up by 7.5%. The strong sales continue to be driven by
the new menu (in particular around family meals), increased marketing spend
and longer store opening hours. Successful promotions in the quarter were
the unique Moroccan Burger and the Festive Season Bucket campaign and
promotions around the Cricket World Cup.
Full year sales for KFC over the 53 week period were $265.0 million, an
increase of 7.7% on the equivalent 52 week period in the prior year and up
7.7% on a same store basis.
Store numbers remained steady through the quarter at 91, up one on prior
year.
Pizza Hut
Total sales for Pizza Hut were $11.0 million for the quarter, a decrease of
5.3% on the equivalent 12 week period last year (compared with a 1.2%
decrease in the prior year). This result is despite having five fewer stores
as the company continued its strategy of selling lower volume stores to
independent franchisees.
Same store sales for the quarter increased by 1.7% on top of 8.9% growth in
the same quarter of the prior year. The brand enjoyed good sales during the
quarter from the Double Beef and Bacon pizza with free Stuffed Crust.
Full year sales for Pizza Hut over the 53 week period were $48.4 million,
down 1.7% on the equivalent 52 week period last year, but up 6.3% on a same
store basis.
There were 46 company stores at the end of the quarter versus 51 in the prior
year. With the sale of the Newmarket store to an independent franchisee
during the quarter there are now 42 Pizza Hut stores operated by independent
franchisees.
Starbucks Coffee
Starbucks Coffee total quarterly sales were $6.9 million, up $0.2 million or
2.9% on the equivalent 12 week period last year, despite having one store
less than the prior year.
Same store sales were up 5.3% (rolling over a 7.5% 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.
Full year sales for Starbucks Coffee over the 53 week period were $26.1
million, an increase of 2.0% on the equivalent 52 week period last year and
up 5.1% on a same store basis.
Store numbers remained steady during the quarter at 26, but down one on prior
year.
Carl's Jr.
Total Carl's Jr. sales for the 13 weeks of the quarter were $7.6 million, an
increase of 88.7% on the equivalent 12 week period last year with same store
sales down 11.4%.
The company opened a store in Manukau and acquired seven previously
independent Auckland stores in December 2014. A further store was opened in
Albany in the 53rd week of the fiscal year.
Full year sales for Carl's Jr. over the 53 week period were $20.1 million, an
increase of 35.8% on the equivalent 52 week period last year, but down 28.3%
on a same store basis.
The brand is beginning to build awareness and loyalty across the total
network, which comprised 18 stores at the end of the quarter.
Annual Profit Announcement
The company will announce its full year profit results on 16 April 2015.
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 4th Quarter (Q4) - Unadjusted
(for the 13 weeks 02/12/2014 to 02/03/2015)
2014/15 ($000's) 2013/14 ($000's) % change
Q4 2014/15 vs Q4 2013/14 (Including 53rd Week)
Total Store Sales - KFC 67,214 56,938 18.0%
Total Store Sales - Pizza Hut 11,012 10,771 2.2%
Total Store Sales - Starbucks Coffee 6,937 6,225 11.4%
Total Store Sales - Carl's Jr. 7,624 3,715 105.2%
Total Store Sales 92,788 77,649 19.5%
YTD 2014/15 vs YTD 2013/14
Total Store Sales - KFC 265,038 241,521 9.7%
Total Store Sales - Pizza Hut 48,364 48,393 -0.1%
Total Store Sales - Starbucks Coffee 26,067 25,041 4.1%
Total Store Sales - Carl's Jr. 20,059 14,314 40.1%
Total Store Sales 359,529 329,269 9.2%
NUMBER OF STORES OPEN AT QUARTER END
Qtr End no of Stores - KFC 91 90 1
Qtr End no of Stores - Pizza Hut 46 51 -5
Qtr End no of Stores - Starbucks Coffee 26 27 -1
Qtr End no of Stores - Carl's Jr. 18 8 10
Total Stores 181 176 5
Summary of Results for the 4th Quarter (Q4) - Adjusted
(for the 12 weeks 02/12/2014 to 23/02/2015 - For prior year comparative
purposes the 2014/15 year is restated to a 12 week fourth quarter and 52 week
year.)
2014/15 ($000's) 2013/14 ($000's) % change
Q4 2014/15 vs Q4 2013/14 (Excluding 53rd Week)
Total Store Sales - KFC 62,260 56,938 9.3%
Total Store Sales - Pizza Hut 10,205 10,771 -5.3%
Total Store Sales - Starbucks Coffee 6,404 6,225 2.9%
Total Store Sales - Carl's Jr. 7,010 3,715 88.7%
Total Store Sales 85,879 77,649 10.6%
Same Store Sales - KFC 60,026 55,822 7.5%
Same Store Sales - Pizza Hut 9,811 9,645 1.7%
Same Store Sales - Starbucks Coffee 6,313 5,995 5.3%
Same Store Sales - Carl's Jr. 3,233 3,648 -11.4%
Total Same Store Sales 79,382 75,111 5.7%
YTD 2014/15 vs YTD 2013/14
Total Store Sales - KFC 260,084 241,521 7.7%
Total Store Sales - Pizza Hut 47,556 48,393 -1.7%
Total Store Sales - Starbucks Coffee 25,534 25,041 2.0%
Total Store Sales - Carl's Jr. 19,445 14,314 35.8%
Total Store Sales 352,620 329,269 7.1%
Same Store Sales - KFC 253,425 235,398 7.7%
Same Store Sales - Pizza Hut 47,140 44,355 6.3%
Same Store Sales - Starbucks Coffee 25,368 24,143 5.1%
Same Store Sales - Carl's Jr. 10,208 14,246 -28.3%
Total Same Store Sales 336,142 318,142 5.7%
NUMBER OF STORES OPEN AT QUARTER END
Qtr End no of Stores - KFC 91 90 1
Qtr End no of Stores - Pizza Hut 46 51 -5
Qtr End no of Stores - Starbucks Coffee 26 27 -1
Qtr End no of Stores - Carl's Jr. 17 8 9
Total Stores 180 176 4
End CA:00261701 For:RBD Type:QUARTER Time:2015-03-11 09:27:05
