Impact of Renewal Costs at Certain Stores on Food-Service Profit
First written in FY2019-Q2. 2 of 5 entries say "Dropped", first in FY2019-Q3. Latest entry: FY2022-Q2.
1 other company's latest entry also says "Dropped".
- FY2022-Q2DroppedAnnual report
「In the food-service business, sales opportunities declined from the previous year because we accepted requests from local governments to shorten business hours. However, in addition to continuing to capture demand for takeout and delivery, the effects of store renovations carried out in the previous and current periods also contributed, resulting in a 3.7% year-on-year increase in revenue.」
The effects of store renovations are disclosed, but the previously reported adverse impact on profit from higher renovation costs is not separately disclosed this time. - FY2021MaterialisedAnnual report
「Renovations were carried out at 10 KFC stores, resulting in higher repair expenses.」
Repair expenses actually increased in connection with renovations at 10 KFC stores. - FY2021-Q2MaterialisedAnnual report
「Renovations were carried out at 6 KFC stores, resulting in higher repair expenses.」
The food-service business renovated 6 stores, resulting in an actual increase in repair expenses. Overall, however, the food-service business recorded higher revenue and higher profit year on year. - FY2019-Q3DroppedAnnual report
「In the food-service business, campaigns at KFC stores were well received, and we continued to improve operational efficiency.」
There is no separate disclosure this time on the renovation costs at certain stores mentioned in the previous quarter. The favorable response to campaigns and improvements in operational efficiency are instead described as factors affecting food-service business performance. - FY2019-Q2First statedAnnual report
「In the food service business, sales were strong due to the success of campaign products and the Christmas season, but revenue was ¥1,422 million, up 1.7% year on year, and segment profit was ¥177 million, down 2.8%, due to expenses for refurbishing certain stores, higher labor costs and other factors.」
Renovation costs were incurred at certain stores and are cited as a factor behind the decline in food-service segment profit despite strong sales.