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Johannesburg – Figures reported by quick service restaurant group Famous Brands [JSE:FBR] for 2010 FIFA World Cup trading suggest it had a feast during the tournament, and may have outshone its competitors.
Famous Brands, parent company to Steers, Wimpy and Mugg & Bean among others, said its June 2010 sales were 24% higher compared with the same month last year. That represents 83% of the December 2009 turnover, Famous Brands said on Monday, sending its shares up nearly 3% to 3 079c.
"That's a phenomenal performance," said Chris Gilmour, an analyst at Absa Asset Management. "They went all out to ensure the event worked for them – a very clever and proactive strategy. That tells you there's huge innovation within the group."
Famous Brands CEO Kevin Hedderwick said planning for the event started in mid-2009, with the group focused on getting the product to the market. That meant the pursuit of an array of different strategies.
These included modifying the logistics distribution pattern from a five-day to a six-day rolling week as well as identifying potential high volume sites and making provision for increased deliveries, additional fleet and greater staff capacity.
More than McDonald's
Gilmour said the figures suggested more tourists flocked into the country for the event, and Famous Brands appeared to have outperformed official World Cup sponsors McDonald's in terms of sales during the event.
Famous Brands' advantage, said Gilmour, was its wide range of restaurant chains while its competitors had limited brands.
McDonald's South Africa MD Greg Solomon withheld the company's sales figures during the period, saying only that June was 11% higher on top of the double-digit sales growth McDonald's SA has seen over the past few years.
He said June sales were slightly short of the traditional December figures - generally 30% to 40% higher than ordinary months.
Solomon said he was "ecstatic" about the company's performance over the period, adding that the group did not have to take any drastic measures in preparation of the tournament as it had put its systems in place way back during the Confederations Cup last year.
Casual dining group Spur Corporation [JSE:SUR], which had anticipated sales of 12% to 15% higher during the tournament, said it was in a closed period and would not comment on its World Cup performance.
- Fin24.com
Famous Brands, parent company to Steers, Wimpy and Mugg & Bean among others, said its June 2010 sales were 24% higher compared with the same month last year. That represents 83% of the December 2009 turnover, Famous Brands said on Monday, sending its shares up nearly 3% to 3 079c.
"That's a phenomenal performance," said Chris Gilmour, an analyst at Absa Asset Management. "They went all out to ensure the event worked for them – a very clever and proactive strategy. That tells you there's huge innovation within the group."
Famous Brands CEO Kevin Hedderwick said planning for the event started in mid-2009, with the group focused on getting the product to the market. That meant the pursuit of an array of different strategies.
These included modifying the logistics distribution pattern from a five-day to a six-day rolling week as well as identifying potential high volume sites and making provision for increased deliveries, additional fleet and greater staff capacity.
More than McDonald's
Gilmour said the figures suggested more tourists flocked into the country for the event, and Famous Brands appeared to have outperformed official World Cup sponsors McDonald's in terms of sales during the event.
Famous Brands' advantage, said Gilmour, was its wide range of restaurant chains while its competitors had limited brands.
McDonald's South Africa MD Greg Solomon withheld the company's sales figures during the period, saying only that June was 11% higher on top of the double-digit sales growth McDonald's SA has seen over the past few years.
He said June sales were slightly short of the traditional December figures - generally 30% to 40% higher than ordinary months.
Solomon said he was "ecstatic" about the company's performance over the period, adding that the group did not have to take any drastic measures in preparation of the tournament as it had put its systems in place way back during the Confederations Cup last year.
Casual dining group Spur Corporation [JSE:SUR], which had anticipated sales of 12% to 15% higher during the tournament, said it was in a closed period and would not comment on its World Cup performance.
- Fin24.com
