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NPC International Inc., the largest Pizza Hut franchisee in the country with 1,153 restaurants in 28 states, has reported results for its third fiscal quarter ended Sept. 27, 2011.
Q3 highlights include:
Year-to-date highlights include:
"During the third quarter our comparable store sales strengthened from the first half of the year returning to positive territory despite rolling over very strong comparable store sales growth from the prior year," said Jim Schwartz, NPC's president and CEO.
The third quarter was buoyed by a lower-cost carry-out channel with the chain's "$10 Any" promotion, as well as the re-introduction of the $5 P'Zone.
Margins were negatively impacted by higher commodity costs and unfavorable mix changes associated with the $10 Any promotion. However, these increases were partially offset by improvements in the direct labor costs which improved due to reductions in store level wage structure associated with modifications in compensation policies.
The results were released a day after Bank of America announced it was selling the company to Olympus Partners.
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