Comparable-store sales at Pizza Hut restaurants operated by NPC International declined 12.6 percent for the second quarter ended June 30, the company has announced. Year-to-date comps were off 8.8 percent.
Revenues for the quarter were $223.8 million, up 36 percent compared with revenues of $165.1 million for the 2008 second quarter. Year-to-date revenues were $456.2 million, up 38 percent compared with revenues of $329.9 million for the first half of last year.
Net income for the quarter was $3.4 million, up 70 percent compared with net income of $2 million for the 2008 second quarter. For the year to date, net income was $9.3 million, up 50 percent compared with net income of $6.2 million for the same period last year.
NPC officials attributed the increase in sales and net income to its purchase of 288 restaurants in the fourth quarter of 2008 and the purchase of 105 stores in the first quarter of 2009.
The company expects comparable-store sales to remain negative for the next few months, primarily due to strong sales last year and the continued effects of reduced consumer spending, NPC officials said. Pizza Hut's Tuscani Pastas debuted this time last year.
The company's Q2 earnings conference call will be held Aug. 17 at 9:30 a.m. Central time. Interested parties can access the call by dialing 866-270-6057. The international number is 617-213-8891. The access code for the call is 99495464.
NPC International is the largest Pizza Hut franchisee, operating 1,153 Pizza Hut units in 28 states.