Restaurant Brands’ sales increased last year, thanks to recovery from the impacts of the Covid-19 Omicron outbreak and the addition of new stores.
Full-year sales reached $1.32 billion, up 6.7 per cent from the prior year, with the largest growth experienced across all brands in New Zealand, were sales surged 8.1 per cent to $571.8 million.
The company opened two stores there during the fourth quarter of last year, taking the number of stores to 147, in addition to the 118 Pizza Hut stores run by independent franchisees.
Australian sales increased by 10.7 per cent to A$286.6 million. However, one store closed during the fourth quarter, taking the count to 84.
Meanwhile, the loss of two stores in Maui due to a large fire in the third quarter dragged down Hawaiian sales by 1.3 per cent to US$39.9 million.
The company ended the year with 70 stores in Hawaii. Its California business booked sales of US$110.9 million, a decline of 2 per cent due to inflationary pressures impacting discretionary spending. The company opened two new stores during the fourth quarter, taking store count to 75.
Restaurant Brands operates the New Zealand franchises for KFC, Pizza Hut, Carl’s Jr and Taco Bell; KFC franchises in New South Wales, and California; and Taco Bell and Pizza Hut franchises in Hawaii, Guam and Saipan.
This article was first published on sibling website Inside Retail.
