7 Mar 2012

Restaurant Brands' shares fall 3.5%

6:43 pm on 7 March 2012

Shares in Restaurant Brands have fallen 3.5% after its full year sales fell.

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

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

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

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