|Burger King Sales Grow|
|Thursday, 02 August 2012 12:05|
MIAMI — Burger King Worldwide, Inc. (BKW) reported sales increase of 4.4 per cent in the second quarter of 2012.
“I am pleased with the progress made this quarter, with system-wide comparable sales up 4.4 per cent and per cent adjusted EBITDA up 19 per cent year-over-year on an organic basis,” said Bernardo Hees, CEO of the chain.
“In the U.S. and Canada, our focus on menu, restaurant image, operations, and marketing communication is beginning to generate tangible results. Internationally, we are laying the foundation for accelerated development worldwide through the formation of partnerships in Russia and China. We are excited to have listed on the NYSE this quarter and believe BKW is well positioned for long-term growth."
This news comes after the company rolled out new products in the North American Market in April. And, as part of BKW's global refranchising strategy, it refranchised 386 company-owned restaurants domestically and 78 company-owned restaurants internationally during the quarter. BKW's U.S. and Canadian franchisees have agreed to remodel 564 restaurants, bringing the total remodel commitment in the region to more than 1,500 restaurants as of June 30. In addition, 278 restaurants were sold to Carrols Restaurant Group, BKW's largest franchisee.
BKW is also expanding globally into Russia and China with a commitment to open several hundred restaurants over the next few years in the former and plans to open 1,000 restaurants over the next five to seven years in the latter. It represents the largest multi-unit development agreement in the brand's history.