Pizza Hut falters in New Zealand and Australia

March 8, 2006

Bloomberg.com: Restaurant Brands New Zealand, a 107-unit Pizza Hut franchisee in New Zealand, reported that comparable-store sales slid 4.7 percent for the 12 weeks ended Feb. 27. Sales for the most recent quarter at its 50 Pizza Hut outlets in the Australian state of Victoria fell 11 percent, and the company expects to write down the value of the business in the full year.