Guzman Y Gomez says it has witnessed significant sales growth in the first first quarter amid improved performance across all markets – except in the US.
The Mexican-themed fast food chain booked network sales of $278.8 million in the quarter ended September 30, up 20.7 per cent from a year ago.
This comes as sales grew 21.1 per cent to $260.2 million in Australia and by 19.3 per cent to $13.6 million in Singapore. Its Japan sales increased 25 per cent to $2.5 million while US sales declined 3.7 per cent to $2.6 million.
The company noted that comparable sales growth in Australia exceeded expectations on the back of the successful ‘Clean is the New Healthy’ campaign and demand for value items such as the $12 chicken mini-meal.
Meanwhile, the US segment delivered sales in line with expectations, with the year-ago quarter benefitting from higher sales due to the opening of new restaurants.
Guzman Y Gomez expects to meet its prospectus forecast for the fiscal year, including the opening of 31 new locations in Australia.
This article was first published on sibling website Inside Retail.
