RFG’s pizza outlet growth forecast rises to 85
Their expansion strategy is achieving significant traction.
Retail Food Group’s Project QSR400, which sees to the expansion of outlet growth of the company’s QSR pizza chains, is going well underway with the company reporting an increase in outlet growth forecast for FY14.
The Company shared that the progress of their expansion strategy is going better as expected.
RFG initially planned to launch 70 new pizza stores. But the with recent progress that the project has been achieving, the Company increased this number to 85 new stores.
RFG also added that 45 new stores set to launch by the end of 1H14, and 22 of these already franchised. The Company also revealed plans to open an additional 60 new stores of Pizza Capers and Crust Gourmet Pizza Bar in FY15.
“Whilst QSR outlet growth has accelerated beyond initial expectations, and is anticipated to deliver enhanced FY14 revenues, RFG remains alive to the fact that the short term increased number of corporate owned and operated outlets, pending their franchising, will also drive additional expense having regard to the normal 18 month maturity profile of those outlets.
“Clearly the accelerated QSR outlet growth in the present financial year will positively influence FY15 performance, however it would be premature for the Company to revise existing FY14 guidance at this juncture.
“That said, the Company continues to monitor trading performance and will keep the market appropriately informed,” said Tony Alford, CEO of Retail Food Group.
