trying to save costs eh
Disgusting’: Kiwis concerned after change to KFC potato and gravy leaves ‘plastic’ taste
https://www.nzherald.co.nz/lifestyle...D3UOPNKE5QAGU/
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trying to save costs eh
Disgusting’: Kiwis concerned after change to KFC potato and gravy leaves ‘plastic’ taste
https://www.nzherald.co.nz/lifestyle...D3UOPNKE5QAGU/
https://www.nzx.com/announcements/401123
Restaurant Brands Sales up 32.3% with Roll Over of COVID-19 Lockdowns
Restaurant Brands’ total sales for the third quarter to 30 September 2022 increased to $322.2 million (up 32.3% over the equivalent period last year), as sales recovered from the impacts of the 2021 COVID-19 restrictions in New Zealand and Australia.
Worldwide inflationary pressures have continued from last quarter, with the company still experiencing significant cost inflation across all regions. The company continues to implement price increases where possible in response to these increased costs.
Total year to date sales reached $907.1 million (an increase of 15.7% on the prior year). Total sales were supported by the inclusion of 20 new stores (to 372 stores in total), lower levels of COVID-19 disruption and the strengthening US and Australian dollars over the prior year.
New Zealand
Third quarter sales for New Zealand were $137.6 million, up 43.9% in total and 2.2% on a same store basis.
Prior year trading was impacted by Government-mandated trading restrictions. Adjusting the prior year sales to account for an estimated $26 million of sales lost due to COVID-19 restrictions, sales increased by 13.1% during the quarter.
All brands showed sales growth, with staff isolation requirements reducing as COVID-19 restrictions continue to be eased and overall case numbers drop.
Total year to date sales were $389.4 million, an increase of 16.3% on the prior year and 1.6% on a same store basis.
Store numbers increased by two during the quarter to 140 stores, following the opening of new Taco Bell stores in Botany, Auckland and near Christchurch Airport.
Australia
Australia’s sales for the third quarter were $A65.5 million ($NZ73.1 million), an increase of 23.6% in total (local currency). Total sales growth over the prior year is distorted by the impact of COVID-19 Government restrictions imposed during 2021.
Same store sales were up 10.4% (local currency). Mall and in-line inner city store sales continued to recover towards pre-COVID-19 sales levels.
Total year to date sales were $A188.4 million ($NZ206.5 million). This is an increase of 12.3% on a total basis on the prior year and 5.6% on a same store basis.
Store numbers increased by one during the quarter to 82 following the opening of a new Taco Bell store in Chatswood, Sydney.
Hawaii
Sales for the third quarter in Hawaii were $US39.9 million ($NZ65.1 million), showing growth of 7.7% in total and 2.6% on a same store basis (local currency).
Hawaii trading continues to be strong, with sales growing past pre-pandemic levels. The full reintroduction of the Taco Bell Mexican Pizza Taco has exceeded sales expectations and is driving sales growth into the fourth quarter.
Total year to date sales were $US115.9 million ($NZ180.3 million), an increase of 5.7% on a total basis on the prior year and 2.8% on a same store basis.
Store numbers increased by one to 75 stores during the quarter with the opening of a new Taco Bell store in Kilauea.
California
California’s sales in the third quarter were $US28.5 million ($NZ46.4 million), an increase of 3.0% on a total basis but a decrease of 3.3% on a same store basis (local currency).
Same store sales have reduced on the prior year in the absence of Government stimulus payments and with Californian consumer spending falling in the face of high inflation levels.
Total year to date sales were $US84.3 million ($NZ130.9 million), an increase of 1.7% on a total basis on the prior year but a decrease of 3.0% on a same store basis.
Store numbers increased by one during the quarter to 75 stores following the opening of a new KFC store in Ridgecrest.
No mention of margins?
At half year margins were under pressure
What's causing the downtrend? 5yr lows.
Yep exactly - cost pressures will be chewing into Margins and bottom line
to the extent they aren't recoverable or offset by margins on recovered turnover levels
Was the last period's Dividend a one off flash in the pan as new economic factors
impact results going forward ?
collins kfc australia had there results yesterday
The rising cost of food such as the chicken, lettuce and oil needed for KFC’s products has eaten into the company’s revenue, with the difference in costs not expected to be covered until 2025.
https://www.news.com.au/lifestyle/fo...7049091951267f
Yeah a bucket of chicken with sides for the family is like $60 these days.
Its getting up there. Pizza, burgers or fish n chips cheaper option
A good SP fall yesterday, with further today
SP graph for past year shows a steady slide from north of $15 a year ago ( - 50% +)
Offset by what could be a one off dividend in April 2022 along the way
A potential candidate for minorities to be taken out by the South American controlling interests at these levels ?
Lets face it - with inflationary issues, bottom line may well be evaporating into each order that goes out the doors ;)
As KFC gets more expensive one has to consider who's the biggest customers of KFC , is KFC like smoking cigerette's you will buy it no matter what ?
we already hear stories of watered down potato and gravy will chicken become more fake going forward ? in the burgers
'Algae marinated in brackish seawater' sounds quite healthy compared with usual KFC fare BP. The boiled and roasted cabbage you can get by sticking the regular KFC coleslaw in the microwave, so you are almost there. With our Russel on the way out, a new CEO is needed. I reckon you are angling for that top job BP, and doing your 'dipping your toe in the water test' for your prospective menu changes on our Sharetrader members. That's what I think....
Good luck with your job application BTW.
SNOOPY
Imagine life without KFC. Sounds like hell
Hell? ... I like the way this discussion is going ...
Attachment 14361
https://www.nzx.com/announcements/403351
Restaurant Brands New Zealand Limited (RBD) announced today that Chief Executive Officer (CEO) for the New Zealand Business, Arif Khan, will take on the position of Global Chief Operating Officer (COO), effective today. After Russel Creedy retires, Mr Khan will be appointed Acting Group CEO.
In addition CPA Julio Valdés has been appointed Group Chief Financial Officer, effective June 1st, 2023, taking over for Grant Ellis whose retirement is scheduled for May 31st, 2023.
Arif Khan looks the goods. Internal promotion always good, even if its only acting after the retirement.