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Restaurant Brands cycles out Covid closures for strong second quarter

Restaurant Brands has enjoyed a relatively strong second quarter as Covid restrictions across its key markets of Australia, New Zealand and the United States largely eased.

While Covid-19 continues to impact the business, and the quick service industry at large, Restaurant Brands’ total sales for the period were up 53 per cent on the same period of last year – hitting $265 million from $173 million.

The group’s Australian operations, which include KFC and Taco Bell, saw sales jump 33 per cent to $61.5 million during the quarter, while its newly acquired KFC and Taco Bell stores in California brought in around $38 million.

“This was primarily due to less Covid-19 trading restrictions, new store openings late last year and store acquisition activity,” the business said.

“Total year to date sales [in Australia] were $114.8 million, an increase of 21.6 per cent on the prior year and 5.2 per cent on a same store basis.”

In New Zealand, Restaurant Brands’ main market, sales exploded almost 62 per cent to $124 million, cycling out four weeks of lost trading in FY20.

“KFC, Pizza Hut and Carl’s Jr. all showed solid same store growth, whilst the newly opened Taco Bell stores continue to trade at expected levels,” the business said.

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