According to a news report from stuff.co.nz, “Another flagging performance from Pizza Hut dragged fast-food operator Restaurant Brands’ total store sales down 0.9 per cent in its first quarter to May 19, but the company says the current economic downturn will have significant benefits for Pizza Hut.”
“The company, which also holds the KFC and Starbucks brands in New Zealand, said Pizza Hut recorded a “disappointing” 13 per cent fall in total sales to $15.1 million, mainly because of the closure of seven of its full pizza restaurants,” said the story. “Pizza Hut’s same-store sales for the quarter were 7.1 per cent lower. Restaurant Brands chief executive Russel Creedy said the tough economic environment was beginning to reveal a silver lining for Pizza Hut.”
