21.6% Increase Compared to Same Period Last Year
Operating Profit Also Increased 5 Times to 5.1 Billion KRW
Chicken and burger brand KFC announced on the 29th that its sales in the third quarter of this year reached 76.2 billion KRW, an increase of about 21.6% compared to the same period last year, achieving the highest quarterly sales ever.
Operating profit for the same period increased fivefold to 5.1 billion KRW, with an operating profit margin of 6.7%. The cumulative sales from the first to the third quarter of this year amounted to 220 billion KRW, and cumulative operating profit reached approximately 11.7 billion KRW, surpassing last year's full-year operating profit. KFC explained that ▲establishing a store portfolio ▲strengthening menu competitiveness ▲optimizing promotions were the key drivers behind the strong third-quarter performance.
KFC, which officially launched its franchise business this year, opened a total of 13 franchise stores nationwide from April to this month. Additionally, according to the newly established store portfolio, it improved operational efficiency by remodeling aging stores and withdrawing underperforming stores.
Based on qualitative growth this year, KFC plans to pursue large-scale quantitative growth next year. It will expand various types of stores suitable for commercial districts, such as drive-thru and small box stores, and focus on realizing 'smart digital' through digital-based service improvements. In terms of menu development, KFC intends to discover KFC Only products that can only be tasted at KFC.
Shin Hosang, CEO of KFC Korea, said, "It has been a year with results beyond expectations," adding, "Next year, we will aim for quantitative growth through flagship stores and franchise expansion."
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