Free Subscription

  • Access 15 free news articles each month

Professional

Try one month for $5
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • Exclusive Masterclass access. Part of Retail Week 2021

KFC sales soar

 

KFCAppetite for fried chicken grew in the past three months, lifting KFC’s sales beyond expectations.

KFC operator Collins Foods, which also owns Sizzler restaurants, released unaudited financial results for the three months to July 20 on Monday.

The company’s first quarter profit is up 21 per cent to $4.5 million.

A large contributor is people’s appetite for fried chicken, with same store sales rising three per cent across Collins Foods’ 169 KFC outlets.

Collins Food MD and CEO, Kevin Perkins, says KFC’s trade in the first quarter has “exceeded expectations”.

KFC Queensland delivered 2.6 per cent growth in same store sales, while KFC Western Australia and Northern Territory generated 4.2 per cent growth in same store sales.

Sizzler Australia stores overall earnings continued to lag the prior year across this period.

Perkins said the board was closely monitoring Sizzlers’ transformation potential through its Get Refreshed initiative.

“While this program is still in the early stages of implementation, the complete Get Refreshed package including facility modernisation in Sizzler Cleveland continues to deliver encouraging early results,” he said.

He said he was pleased with the company’s overall sales and earnings over the first quarter of 2014/15 and said the outlook was positive.

Collins Foods’ earnings of $13.3 million are up 24 per cent.

The company’s shares were 10 cents higher, or 4.35 per cent, at $2.40 at 1055 AEST.

AAP

You have 7 free articles.

Masterclasses are for professionals only

Only $5 p/m for first 3 months
Become a Professional Already a professional? Login
  • Daily exclusive Members Only content straight to your inbox
  • Access to exclusive Retail Week events including all 4 Masterclasses 28 February - 3 March
  • Retail insights and intelligence
  • On-demand videos with industry professionals
  • Weekly careers advice specific to retailers
  • Independent research reports and forecasts
  • Q&A with industry experts
  • Content, content, content! Weekly and quarterly magazines