Retail Food Group releases further statement on media scrutiny
RFG said the coverage does not accurately reflect the strong platform for growth it has established.
The Company reiterated its confidence in the strength of its franchise model, but has noted numerous times in recent disclosures the challenging and evolving retail market in which its franchisees operate, particularly within shopping centres.
According to the Company, RFG’s Franchisee support network include a dedicated Sales & Performance team tasked with working alongside our franchisees to support outlet performance and mentor successful business owners; a Franchisee Care Centre, which helps franchisees access support services and resources; a Retail Performance Optimisation team focused on operational excellence; and a Learning & Development team, backed by industry leading training facilities and resources.
Retail Food Group's first 18 weeks’ domestic weighted same store sales rose 0.7%, with the average transaction value growing 1.9%. The same store sales of each division vary with the Bakery Café division earning a 1.1% increase, Coffee Retail ending with -1.6% dip, and the QSR Division reporting a 2.7% jump.
In a release, RFG said it anticipates outlet population for 1H18 to be broadly in-line with FY17 closing network population, influenced by generally challenging retail conditions.
