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Article: RESTAURANT BRANDS NEW ZEALAND; Stronger KFC offsets 'disappointing' Pizza Hut
- Article from:
- The Press
- Article date:
- March 7, 2008
- Author:
CopyrightCopyright 2008 The Press. Provided by ProQuest LLC. (Hide copyright information)
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Restaurant Brands New Zealand has failed to meet a target of
halting the slide in sales at its Pizza Hut chain by its balance
date.
Back in September, the listed Auckland fast-food chain firm's
chief executive, Russel Creedy, said the company expected by now "to
have rectified things and be back into growth in sales" at Pizza
Hut.
However, sales figures for the fourth quarter of the year, to
February 25 released yesterday showed a 12.9% drop in Pizza Hut's
sales to $15 million. Same-store sales slipped 8.2%.
In a statement Creedy described the Pizza Hut result as
disappointing "in a very competitive market". He could not be
contacted for comment yesterday.
The results from the pizza ...