7 Mar 2012

KFC sales slip, Pizza Hut struggles

2:24 pm on 7 March 2012

Restaurant Brand's full year sales have slipped as it lost business from earthquake-damaged stores and sold some of its struggling Pizza Hut restaurants.

The fast-food retailer, which also operates the KFC and Starbucks chains, made same-store sales of almost $297 million in the 2011 financial year. This was 2.5% less than the year before.

KFC generates the bulk of Restaurant Brand's revenue, and sales at stores open more than a year slipped almost 2%.

Its Pizza Hut chain continues to struggle, with sales falling almost 10% during the year, as it closed three shops and sold eight to independent operators.

However, sales rose more than 5% at its coffee chain, Starbucks.

The company doesn't give any guidance about its full year financial results which will be released in early April.