NEW ZEALAND: Restaurant Brands issues profit warning on poor KFC sales
New Zealand fastfood company Restaurant Brands has said that a weak sales performance at its KFC stores will cut its second-half net profit by NZ$2m (US$1.3m) from a year-earlier profit of $6.1m. The company, which also operates the Pizza Hut and Starbucks brands in New Zealand, said that since its first-half profit announcement in October, "the company's KFC business has experienced a downturn in sales, which has been a reversal of the improving trend experienced over the previous three quarters," reported Dow Jones News.
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