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.
Go deeper with GlobalData
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.
For the first half the company posted a near 15% drop in six-month net profit to $4.3m.
Restaurant Brands said third-quarter same-store KFC sales were likely to be 7.5% lower than in the year-ago period.
The company said its Pizza Hut and Starbucks brands continued to perform close to expectations.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
