Retail Food Group reports robust sales, plans expansion in 16 countries
Multibrand food chain franchisor Retail Food Group says sales across its domestic network have grown 16.5 per cent in the first 21 weeks of this year.
The company owns and operates Gloria Jean’s, Crust Gourmet Pizza, Donut King, Brumby’s Bakery, Cafe2U Michel’s Patisserie, Pizza Capers and The Coffee Guy.
In August, the business reported that its tax-paid profits increased threefold to $5.3 million in its full-year results.
Continuing into the new financial year, same-store sales are up by 20 per cent with Donut King performing particularly well, up by 47.6 per cent.
Customer visits to stores have grown by 20.6 per cent during the quarter to date, although staffing shortages are an ongoing issue for many outlets.
To alleviate operational pressures, the company says it has launched a baker recruitment program in partnership with the state-based TAFEs to create career opportunities.
For the first half of this year, 32 new outlets were opened while an additional 50 stores are planned across 16 countries in the remainder of FY23 (which includes four new US-based Gloria Jean’s drive-thru outlets).
In its international division, the company has reported that restructuring activity and improved trading conditions boosted underlying EBITDA by 35.5 per cent last financial year.
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