Minor International's restaurants post 3% drop in same-store sales in FY 2019
System sales, however, were up 5% in the same period.
Minor International’s restaurant segment saw a 3% drop in group-wide same-store sales in FY 2019, attributed to the “challenging” operating environments across its key markets.
This is despite having posted a group-wide system sales increase of 5% in the year ended December 2019.
The business, which composed 20% of the company’s revenue of THB 129.9 billion (US$ 4.1 bn), saw a 2.7% year-on-year increase in revenues to THB 24.1 bn (US$ 761.3 m), driven by its Thailand and China stores expansion.
The company operated a total of 2,377 outlets in 2019, 107 of which are net new stores in the year, mostly The Pizza Company and Bonchon brands.
Last year, the multi-national company acquired Chicken Time, operator of Bonchon in Thailand. https://qsrmedia.asia/legal/news/minor-international-acquires-bonchon-thailand-operator
Moreover, the company entered Mexico via its franchised Japanese restaurant brand, Benihana, last year.
Further, Minor International said it is “well-prepared” to recover from the impact of COVID-19 to its restaurant business’ performance this year on the back of its “strong” multi-brand portfolio.
