KFC profits cookin' as new stores open

Restaurant Brands has reported third quarter sales of $74.2 million - 1.8 per cent ahead of a year earlier with KFC continuing to drive the company's gains.
Same store sales for the 12 weeks to December 6 were also up 1.8 per cent, while year-to-date sales of $250.5 million were 3.3 per cent up on a year earlier and up 4 per cent on a same store basis.
KFC sales increased 6.2 per cent to $54.6 million, with the same store rise being 3.9 per cent, rolling over a 10 per cent same store sales rise in the third quarter last year, Restaurant Brands said.
A new KFC store opened at The Base shopping centre in Te Rapa in November and was trading above expectations. In the past year, four new KFC stores had opened, taking the total to 88, with a further new store opening scheduled tomorrow at Papamoa.
Pizza Hut sales fell 11.6 per cent to $12.9 million in the third quarter, while on a same store basis the fall was 5.8 per cent.
For the year so far, Pizza Hut sales fell 6.7 per cent to $46.6 million, and were down 3.7 per cent on a same store basis.
Two Pizza Hut stores sold during the quarter to independent franchisees were the first in the brand's selldown programme, Restaurant Brands said. Settlement on three more sale and purchase agreements was expected early in 2011.
At Starbucks Coffee, quarterly sales fell 3.3 per cent to $6.7 million, but rose 1 per cent on a same store basis.
Year-to-date Starbucks sales were down 3.6 per cent to $22.2 million, but up 0.6 per cent same store.
An underperforming store in Ponsonby was closed during the quarter, taking Starbucks numbers to 38, down three from a year earlier.