Christopher Adams

The Business Herald’s markets and banking reporter.

New Carl's Jr store turns over $90k in first week

Restaurant Brands opened its first Carl's Jr store in Mangere on November 29th. Photo / Supplied
Restaurant Brands opened its first Carl's Jr store in Mangere on November 29th. Photo / Supplied

Restaurant Brands' newly opened Carl's Jr burger store in Mangere has performed ahead of expectations and turned over $90,000 during its first five days of trading, the company says.

Announcing its third quarter sales figures today, the fast food operator - which also runs KFC, Pizza Hut and Starbucks in New Zealand - said its total sales rose 0.5 per cent to $72.2 million in the 12 weeks to December 3.

Restaurant Brands said trading at the Mangere Carl's Jr, which opened on November 29, had continued ahead of expectations since the third quarter ended.

A separate business, part-owned by former All Black Michael Jones, already runs four Carl's Jr stores in Glen Innes, Takinini, Pukekohe and Henderson and has the option to open more sites in Auckland.

Restaurant Brands plans to establish 35 to 60 Carl's Jr stores across New Zealand and invest $10 million into the brand each year.

The company is opening its second Carl's Jr store in Palmerston North today and will open its third on central Auckland's Queen St in the New Year.

Sales at KFC rose 0.5 per cent in the third quarter to $55.4 million, while Pizza Hut's total sales lifted by $400,000 to $11.1 million.

At $5.7 million, Starbucks' sales for the quarter were 6.9 per cent down on the same period last year.

Shares were up 1.5 per cent at $2.70 just after midday.

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