Fast-food group Restaurant Brands believes it can stop the slide in sales at its Pizza Hut chain by the end of this financial year.
According to a news report from stuff.co.nz, “Second-quarter figures released yesterday showed that Restaurant Brands’ sales for the period to September 10 were $93.6 million, up 5.8 per cent as the company benefited from continuing strong growth at its KFC outlets. But Pizza Hut continued to be affected by competition, with same-store sales dropping 4 per cent compared with the same period last year.”
“This means Pizza Hutt’s same-store sales have now gone backwards in every quarter for the past two years,” said the story. “However, chief executive Russel Creedy said yesterday the latest decline represented a “substantial improvement” on the 4 per cent fall in the first quarter of the current financial year. Total Pizza Hut sales were down 7.5 per cent at $23.1 million.”