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Category: Food

Retail News Asia is committed to providing both local and global retailers with the latest Food and Food & Beverage news throughout the Asian market. This on a daily base.

  • Filipino retailer plans IPO debut next month to expand footprint

    Filipino retailer plans IPO debut next month to expand footprint

    Balai Ni Fruitas, which operates a chain of bakeries and juice shops, is planning a P309.38-million initial public offering (IPO) next month to fund its expansion plans and for potential acquisitions.

    According to the Securities and Exchange Commission (SEC), the subsidiary of Fruitas Holdings, Inc. filed its registration statement on Feb. 17.

    Balai will be offering as much as 325 million primary common shares. Meanwhile, its parent firm, Fruitas Holdings, will be selling 50 million secondary common shares, along with an overallotment option of up to 37.5 million common shares.

    IPO shares will be priced up to 75 centavos apiece. According to its prospectus dated Dec. 27, 2021, the final price will be set on March 7.

    “The Company will not receive any proceeds from the offer of the secondary shares and option shares,” Balai said.

    Balai may raise up to P243.8 million in gross proceeds from the sale of 325 million primary common shares. The company may net up to P220.4 million from its IPO.

    “The Company intends to use the net proceeds from the Offer for the store network expansion, commissary set-up and potential acquisition opportunities of the Company,” Balai said.

    Majority or 81.8% of its proceeds worth P180.4 million will be used for its store network expansion. The company aims to open 120 new owned stores in Metro Manila and “selected urban areas” across the country until the end of next year.

    The company owns bakery chain Balai Pandesal, Buko ni Fruitas, and Fruitas House of Desserts. Buko ni Fruitas offers fresh coconut drinks, while Fruitas House of Dessert serves fruit shakes and desserts.

    “Vast majority of the stores to be opened from 2022-2023 are anticipated to carry the Balai Pandesal brand. Moreover, the Company also expects to expand the footprint of its other existing brands and future acquisitions which will depend on, among others, market opportunities and commercial considerations,” Balai said.

    Balai plans to allocate P20 million for its plans to set up commissaries in 2022, while another P20 million will be used to acquire other baked goods brands.

    “The Company’s potential target acquisitions will be geared towards broadening its baked goods product offering and/or adding sales channels. The Company is still in the early stages of evaluating these options and there are no definitive agreements signed,” Balai said.

    In a statement in December, Fruitas Holdings President and Chief Executive Officer Lester C. Yu said it decided to take Balai public due to the “significant growth prospects of the bakery sector.”

    Balai plans to conduct its offer period from March 16 to 22, while its tentative listing date at the small, medium, and emerging board of the Philippine Stock Exchange is set on March 30. The company has yet to decide on its stock symbol.

    The company tapped First Metro Investment Corp. as the transaction’s issue manager, bookrunner, and underwriter.

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  • Rice profits up around 15 pct

    Rice profits up around 15 pct

    Major rice producers and exporters saw their after-tax profits last year increase around 15 percent against the previous year thanks to stronger domestic and overseas sales with higher export prices.

    Loc Troi Group JSC reaped the biggest-ever revenues of over VND10.2 trillion ($443.4 million) and after-tax profits of more than VND420 billion, up 36 percent and 14 percent, respectively.

    Vietnam National Seed Group JSC (Vinaseed) made revenues of over VND1.93 trillion and after-tax profits of more than VND225 billion, posting respective year-on-year rises of 18 percent and 16 percent.

    Both net revenues and after-tax profits of Trung An Hi-tech Farming JSC increased 15 percent to VND3.12 trillion and over VND100 billion.

    Vietnam exported over 6.2 million tons of rice totaling nearly $3.3 billion last year, according to the General Department of Vietnam Customs.

    The average export price of Vietnamese rice rose 5.5 percent against 2020 to $526.8 per ton in 2021, according to the Ministry of Agriculture and Rural Development.

    Loc Troi exported over 80,000 tons of rice worth over VND1 trillion, quadrupling in both volume and value against 2020. Vinaseed exported 60 tons of premium fragrant rice to the U.K. for the first time.

    Domestic sales also increased last year, partly due to social distancing measures imposed to curb Covid-19. Hoa Sen Rice told VnExpress its sales surged 45 percent in 2021.

    The Vietnam Food Association predicted Vietnam, which exported 505,700 tons of rice worth $246 million in January, would export over 6 million tons of rice this year. However, a sharp increase in prices of agricultural materials, especially fertilizers, will increase input costs and lowers farmer incomes.

  • Spicy sauce marketed as Australia’s first locally made sriracha

    Spicy sauce marketed as Australia’s first locally made sriracha

    Sir Racha hot sauce has added a new twist to its range, introducing a mildly punchy sauce that the company says is the first of its kind to be made in Australia.

    The original hot sauce is made from sun-ripened Australian jalapenos fermented with onion and garlic to distinguish natural sugars. It is then blended with vinegar to give it a “sour-y tang”. The sauce offers 2.6 calories, zero grams of fat and only 23mg of sodium per serve.

    Eric Robinson, hot sauce development officer at Sir Racha, said that there is nothing better than a sauce you can use liberally on everything. “It’s sweet, salty, sour and has that little bit of punch. With no added sugar, it really is a pantry staple.”

    Sir Racha is a healthy, all-natural product that supports Australian farmers & families.

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  • A2 Milk profit halves on China slowdown but sees sales pick-up

    A2 Milk profit halves on China slowdown but sees sales pick-up

    New Zealand’s A2 Milk said on Monday its first-half profit halved as sales of its infant milk formula product continued to fall in China, but forecast second-half revenue to be significantly higher than a year ago.

    The firm reported a first-half net profit after tax of NZ$56.1 million ($37.54 million), down from NZ$120 million a year ago.

    The hit to its Chinese market stems from coronavirus-induced supply disruptions to its “daigou” channel, a reseller network where people outside China buy A2’s products and ship them to Chinese consumers informally.

    That, along with contracting market share in China owing to declining birth rates, has caused A2 Milk shares to plunge more than 60 percent from pre-Covid-19 levels, reportedly making it a target for Canadian dairy firm Saputo Inc.

    A2 said it expects sales of its Chinese label and English label infant milk formula products to pick up in the second half of the year, with inventory levels expected to improve, driving revenue growth.

    However, it said it does not expect this sales growth to translate into higher profit, as it plans to spend more on its expansion strategy and it is also battling rising costs.

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  • Crab prices plunge over border trade jam

    Crab prices plunge over border trade jam

    Crab meat prices have dropped by nearly half as traders at the northern border gates with China limit purchases over export difficulties.

    The export of goods through border gates in the northern province of Lang Son has remained sluggish with many trucks having to turn around because of long customs clearance time after China tightened regulations over what it says are Covid-19 concerns.

    With China being a major buyer, the current situation has caused seafood prices in Vietnam to fall sharply.

    Bui Chi Lam, a crab-raising household in the southern province of Ca Mau, said that the selling price of top-tier crabs at the farm was just VND600,000 ($26.28) per kg , down 50 percent compared to the Lunar New Year season early this month. He has noticed a drastic fall in the number of traders looking to buy seafood.

    “Normally, when supply decreases, prices will increase. But the impact of border gate closures has caused crab prices to plummet,” Lam said, adding that crab farmers are forced to rely exclusively on domestic consumption.

    The price of regular crab meat at the farm is just VND300,000 per kg.

    Thanh, another crab farmer in Ca Mau, said prices of the crustacean will drop further if domestic consumption was low.

    Apart from crab meat, shrimp prices have also fallen to around VND150,000-200,000 per kg, depending on the variety.

    Hoa, a seafood trader in the southern region, said that prices have decreased by 10-45 percent compared to the Lunar New Year period, but purchasing power remains low.

    “I have temporarily stopped exporting and am only selling to domestic traders,” Hoa said.

    A survey of several seafood stores and markets in HCMC found that the price of grade 1 crab at stores was VND800,000 per kg and that of regular crab around half that.

    As for shrimp, though supply was lower compared to the same period last year, prices have also dropped by VND50,000 per kilo in the past two days to VND200,000 per kg (about 30 shrimps per kg).

    Hoa said both difficulties at the China border and lower purchasing power back home were major factors in the sharp drop in prices.

    Over the past week, more than 2,000 trucks of goods have been stuck at Lang Son border gates because of slow customs clearance.

    The delay in clearing container trucks at the border has been happening since the end of last year. During the Lunar New Year holiday from Jan. 19-Feb. 6, the issue was partly resolved thanks to intervention from senior officials, but it has resurfaced since.

    China was Vietnam’s second-largest export market for agricultural, forestry and fishery produce behind the U.S., with a turnover of $8.4 billion in the first 11 months of last year, accounting for 19.2 percent of Vietnam’s total agricultural exports.

    On February 17, China suspended trade through the Kim Thanh Border Gate in Vietnam’s Lao Cai Province after discovering Covid-19 cases on its side, leaving 350 container trucks stranded.

    With Chinese authorities placing the Hekou Yao Autonomous County under a lockdown, it is unclear when the trucks can cross the border.

    Four other border gates in the province: Huu Nghi International, Dong Dang, Tan Thanh and Chi Ma International Railway Stations have begun clearing goods again.

    However, China is continuing to strengthen pandemic prevention and quality control measures, so it takes 40-50 minutes to clear a truck. With a clearance capacity of 5-69 vehicles per day, the border trade congestion look set to continue.

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  • Coffee chains Starbucks, Luckin raise prices in China

    Coffee chains Starbucks, Luckin raise prices in China

    Coffee chains such as Luckin Coffee and Tim Hortons have increased the prices of their beverages in China, with U.S. giant Starbucks blaming “multiple factors” such as higher operating costs.

    The chains, among China’s largest coffee players, raised prices by between 1 yuan and 3 yuan ($0.16 and $0.47), according to menus on mobile apps and media reports, with the topic going viral on Chinese social media on Thursday.

    Although a nation of tea drinkers, China is one of the world’s fastest-growing coffee markets, with nearly 110,000 shops in larger cities by April, consultants Deloitte have said, as young people drive consumption, which lags the United States and Europe, however.

    Starbucks said it had adjusted on Wednesday the prices of some of the items after “comprehensive evaluation and consideration of multiple factors” such as operating costs, in the first increase since 2018.

    A Starbucks Americano costs 30 yuan after the price increase, up from 28 yuan.

    Packaged coffee beans and merchandise such as mugs were not affected, however, the company said in a statement.

    China’s Luckin Coffee raised the price of some beverages by about 3 yuan, taking into account operational costs such as rent, manpower, and raw material, the state-backed Shanghai Securities Journal said.

    Starbucks hiked menu prices in October and January and plans further raises this year, Chief Executive Kevin Johnson has said, in part to offset soaring labor and goods costs, but he did not specify individual products.

    Official data showed China’s coffee market grew at an annual rate of 15% in 2018, versus a global average of 2%.

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  • Subway Thailand plans 700 new stores

    Subway Thailand plans 700 new stores

    The sandwich chain is aggressively doubling its current network of restaurants in the region to over 6,000 in the next five years.

    Subway has signed a new master franchise agreement with the existing multi-unit franchisee About Passion Co. Ltd. to significantly expand its presence in Thailand.

    The new deal sees About Passion Co. Ltd. opening more than 700 new Subway locations across Thailand over the next decade, expanding on the brand’s current footprint of over 130 restaurants.

    Existing and future restaurants will adapt the sandwich chain’s “Fresh Forward” design, whilst also allowing franchisees the flexibility to incorporate elements of Thai culture into their restaurants.

    About Passion Co. Ltd.’s focus will be to ensure restaurants are in locations with “high accessibility and visibility, including drive-throughs and non-traditional restaurant models, such as kiosks and Grab & Go,” the announcement said.

    “We have seen a strong demand for Subway across Thailand and, with About Passion Co. Ltd.’s existing knowledge of our business model and success in implementing operational excellence across their current restaurant locations, we are confident they will be successful in strategically expanding our presence in the country,” Subway chief executive officer John Chidsey said.

    “We have seen enormous success in our Subway restaurants throughout Bangkok and are committed to continuing to build profitable and sustainable growth and inspiring brand love amongst Thai consumers,” added Thanakorn Thanawarith, founder and director of About Passion Co. Ltd. “As guests across Thailand increasingly seek better-for-you, convenient and affordable food options, we’re confident Subway will be a welcome and distinct alternative to the QSR brands traditionally offered in the region.”

    Last year, Subway signed similar deals to expand in Indonesia,India, Sri Lanka, and Bangladesh.

    In an interview with QSR Media, APAC president Eric Foo said he currently expects the sandwich giant to have about 6,600 restaurants in the next five years, effectively doubling their current network and has named China and Japan as markets with “significant, untapped opportunity.”

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  • Treasury Wine shares surge as post-China focus begins to pay off

    Treasury Wine shares surge as post-China focus begins to pay off

    Treasury Wine Estates said on Wednesday its operating earnings outside mainland China jumped 28per cent, underpinned by growth in its luxury and premium brands, sending shares of the world’s largest standalone winemaker nearly 12per cent higher.

    Treasury has had to re-direct supply to the United States, Europe and domestically after a diplomatic row between Canberra and Beijing effectively closed the lucrative Chinese market to Australian wine.

    The company said it recorded strong growth in its Americas and premium brands businesses, both of which reported a 19per cent rise in their earnings before interest, tax, SGARA and material items (EBITS).

    “Penfolds growth was particularly strong in Asian markets outside of Mainland China … increasing distribution in Asia, domestic markets, Europe and the United States was a key execution highlight,” the company said in a statement.

    Reported EBITS, excluding Australian COO wine sold in mainland China, rose to A$262.4 million ($187.7 million), narrowly missing market expectations of A$265 million while its total net profit slid 7.5per cent to A$109.1 million.

    The company said trading conditions for the remainder of fiscal 2022 were expected to remain broadly in line with the first half across its key markets and channels.

    “Despite FY22 potentially shaping up to be slightly softer than expectations, we see Treasury doing a commendable job building demand for its products in new markets,” Citi analysts said in a note.

    Treasury shares jumped as much as 11.8per cent to A$11.78 in early trading, while the broader market rose 0.4per cent.

    The company said it plans to increase prices across select portfolio brands to partly mitigate the impact of elevated supply chain costs and logistics.

    The Melbourne-based firm retained its interim dividend of 15 Australian cents per share.

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  • Starbucks faces backlash in China over police incident at store

    Starbucks faces backlash in China over police incident at store

    Starbucks is battling its second bout of public fury in China in less than three months, after an incident described by the US coffee giant as a “misunderstanding” at one of its stores sparked criticism from online users and state media.

    The company came under scrutiny on Monday after a user on Weibo said that a number of police officers had been eating outside a Starbucks store in the southwestern city of Chongqing before they were told by staff to move away.

    The user’s description of the incident quickly went viral on the Twitter-like platform, prompting the ruling Communist party’s mouthpiece People’s Daily newspaper to issue a commentary, in which it called Starbucks “arrogant”.

    Chinese consumers and media have become more aggressive about protecting customer rights and monitoring the behavior of big brands, especially from overseas.

    In December, Starbucks apologised and carried out inspections and staff training across all its roughly 5,400 stores in China after a state-backed newspaper said two of its outlets used expired ingredients.

    Starbucks apologized on its Weibo account late on Monday for “inappropriate communications,” saying the whole thing was a misunderstanding.

    But it said staff had never chased away policemen or tried to file complaints against them.

    It continued to face criticism online on Tuesday, with a few small companies announcing on Douyin, the Chinese equivalent of TikTok, that they would “boycott” Starbucks by forbidding employees from arranging meetings in or buying drinks from the shops of the coffee chain.

    However, Hu Xijin, a prolific commentator in China who is the former editor-in-chief of the Global Times newspaper, urged his Weibo users to see the Starbucks Chongqing incident as an accident and not more, adding that Starbucks’s status as a foreign brand should not subject it to more criticism.

    “China is a country that is open to the world,” he said. “To label a mistake as arrogance is not conducive to the bigger environment of opening-up.”

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  • Japan brewer Kirin to exit Myanmar

    Japan brewer Kirin to exit Myanmar

    Japanese drinks giant Kirin said Monday (Feb 14) it will withdraw from Myanmar, after a failed bid to disentangle its operations from a joint venture with a junta-owned company after last year’s coup.

    The brewery is the latest foreign company to pull out of Myanmar with international pressure building against the junta since it ousted civilian leader Aung San Suu Kyi and waged a widespread crackdown on dissent.

    Kirin said its decision comes after months of wrangling following the coup last February, which prompted the company to express concerns about human rights and eventually seek to end its joint venture Myanmar Brewery Limited.

    Kirin has decided “to withdraw from the business in Myanmar in order to urgently terminate its joint venture partnership” with military-linked MEHPCL, the company said in a statement.

    Myanmar Brewery, whose beverages include its flagship and ubiquitous Myanmar Beer brand, boasted a market share of nearly 80 per cent, according to figures published by Kirin in 2018.

    Kirin’s attempts to terminate the partnership with MEHPCL were unsuccessful, and the Japanese drinks maker said in November that it would contest a bid to dissolve their joint brewery over fears liquidation proceedings would not be fair.

    On Monday, Kirin said it had taken “every measure to find a way forward that would allow it to continue to contribute to Myanmar’s economy and society”.

    That included filing for arbitration in Singapore in a bid to end the joint venture and proceed without the military-linked partner.

    “In the end, Kirin Holdings determined that it would be difficult to quickly terminate the joint venture in the manner it desires,” the company added in a statement.

    “Therefore, Kirin Holdings has now commenced and is proceeding with discussions with MEHPCL in order to withdraw from the business in Myanmar, giving top priority to the termination of the joint venture as soon as possible.” A junta spokesperson did not immediately respond to a request for comment.

    With the economy tanking and pressure mounting from rights groups, companies from France’s TotalEnergies to British American Tobacco and Norway’s Telenor have upped sticks or announced they will leave.

    After the coup and arrest of Myanmar’s democratic leaders, Kirin said it was “deeply concerned” by the military’s actions.

    The brewery had been under pressure even before the coup over its ties to Myanmar’s military, and launched an investigation after pressure from rights groups into whether money from its joint venture had funded rights abuses.

    In a statement, Justice For Myanmar spokesperson Yadanar Maung welcomed Kirin’s decision to withdraw from the country, praising the firm for “listening to the voice of Myanmar people and Myanmar, Japanese and global civil society”.

    “Kirin should never have entered into business with a brutal and corrupt military conglomerate,” she added, accusing the brewery of having “financed atrocity crimes and enriched top generals.”

    The activist group urged other Japanese firms doing business with the military to cut ties, and called on Kirin to avoid payments to MEHPCL or the military during the withdrawal process.

    Investors piled into Myanmar after the military relaxed its iron grip in 2011, paving the way for democratic reforms and economic liberalisation in the country of more than 50 million people.

    They poured money into telecommunications, infrastructure, manufacturing and construction projects, but the coup upended the democratic interlude and damaged the economy.

    The pandemic and supply chain disruptions have also hit the country, with Kirin saying in its earnings report released Monday that Myanmar’s beer market has shrunk by about 20 per cent.

    It said Myanmar Brewery’s sales volumes had decreased by around 30 per cent compared to the same period last year.

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  • Northern province blocks fruit trucks headed for China border

    Northern province blocks fruit trucks headed for China border

    Lang Son has decided to stop receiving fruit trucks headed for the China border for ten days starting February 16 as over 1,000 trucks are still stuck in the province.

    The provincial Department of Industry and Trade said that as of Friday morning, the total number of trucks waiting at the three border gates of Huu Nghi, Tan Thanh and Chi Ma was 1,640, of which 1,390 were carrying fresh fruit, accounting for nearly 85 percent.

    Due to China’s strict Covid-19 measures, customs clearance efficiency has been very low, with just 70-90 trucks able to cross the borders a day.

    Meanwhile, around 160 to 180 trucks reach the border gate every day, most of them carrying fresh fruits like dragonfruit, watermelon, jackfruit and mango. This will further worsen congestion at the border and damage businesses as well as farmers, officials said.

    The congestion at the northern border gates started in December 2021 after China strengthened its anti-Covid prevention measures. By mid-January 2022, afraid that their fruits would rot, many business owners had returned to the domestic market and sold them at very cheap prices.

    The government, ministries, branches and localities have had held many meetings on the issue but an effective solution to the problem has remained elusive.

    According to the General Department of Vietnam Customs, Vietnam earned $1.75 billion from exporting fruits and vegetables to China in the first 11 months of 2021, up 3.6 percent year-on-year despite Covid-19 impacts.

    China remained Vietnam’s top fruits and vegetables export market with a market share of 54 percent in the 11-month period

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  • Coca-Cola, the world’s worst plastic polluter, makes reusable pledge

    Coca-Cola, the world’s worst plastic polluter, makes reusable pledge

    The Coca-Cola Company on Thursday said it will aim for 25% of its packaging globally to be reusable by 2030, a move hailed by environmental groups who have called out the soft-drink maker for worldwide plastic pollution.

    Coca-Cola is a top target for consumer, investor, and environmental groups concerned about petroleum-based plastic single-use bottles clogging oceans, among other problems.

    The company was the world’s worst plastic polluter for the fourth year in a row in 2021, according to the global coalition Break Free From Plastic’s annual report released in October.

    “We hope that other companies will follow Coke’s leadership and set reusable packaging targets,” said the group’s global corporate campaign coordinator Emma Priestland.

    Reusable packaging includes containers that can be refilled with original products by companies or consumers, such as refillable fountain drink containers and glass and plastic bottles that are refillable or returnable, the cola maker said, referring to reuse guidelines by nonprofit Ellen MacArthur Foundation.

    In 2020, 16% of the company’s packaging was reusable. That year, 90% of its refillable glass and plastic containers were collected, it said.

    Coca-Cola’s announcement on Thursday is “the first known goal of its kind” and “a welcome change in strategy,” fund manager Green Century Capital Management said in a statement.

    Green Century and activist investor As You Sow filed a shareholder proposal urging Coca-Cola to reduce single-use plastic. They are now considering whether to withdraw their proposal.

    If Coca-Cola hits its new goal, it will be “easier to achieve our objectives of a World Without Waste, where we intend to collect back a bottle or can for every one we sell by 2030,” Chief Executive Officer James Quincey said during the company’s fourth-quarter earnings call Thursday.

    Eight in 10 American adults support government policies to reduce single-use plastic, according to a poll released on Wednesday by advocacy group Oceana.

    Coca-Cola, PepsiCo and other international brands in January called for a global pact that included calls to cut plastic production, a key growth area for the oil industry.

    Break Free From Plastic cleaned beaches in 45 countries and found nearly 20,000 Coca-Cola branded products, more than the next two largest plastic polluters – PepsiCo Inc and Unilever PLC – combined.

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  • Masan acquires majority stake in Phuc Long tea chain

    Masan acquires majority stake in Phuc Long tea chain

    Conglomerate Masan announced Wednesday that it has spent an additional $110 million to increase its ownership in the Phuc Long beverage chain from 20 percent to 51 percent.

    “Since Masan’s initial investment, Phuc Long has demonstrated strong synergies with MSN’s Point-of-Life strategy, which can now be accelerated with Phuc Long as a consolidated subsidiary of Masan,” it said in a press release.

    Masan first bought a 20 percent stake in Phuc Long in May last year for $15 million. The latest purchase puts the valuation of the tea and coffee chain at $355 million.

    Incorporating Phuc Long’s tea kiosks into Masan’s WinMart+ stores nationwide has been part of the conglomerate’s plan since last year as it sought to advance its “point of life” strategy by developing a mini-mall concept that serves a wide array of essential products and services such as groceries, beverage, pharmaceuticals and financial products.

    Masan plans to launch 2,000 such mini-malls this year, and Phuc Long is set to contribute up to VND3 trillion ($132 million) to the conglomerate revenues, which hit VND88.6 trillion last year.

    Phuc Long was established in 1968 in the Central Highlands province of Lam Dong. The company launched its tea and coffee chain in 2012 with is first store in HCMC.

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  • Record store openings drive Yum China sales growth

    Record store openings drive Yum China sales growth

    “We are pleased to report the third consecutive quarter of delivering positive same-store sales growth. With revenues exceeding $2 billion in the quarter, restaurant margin, operating profit and net income have all improved. We opened 129 new restaurants in the third quarter and we are on track to achieve our development target of 550-600 new stores in the year,” said Micky Pant, CEO of Yum China.

    “In this quarter, our strategic initiatives on digital and delivery continued to show encouraging development, which we believe will enable our long-term growth. The connection with our over 120 million loyalty members is getting stronger. The growth in mobile payments and cashless settlement methods for sales continued to outperform previous quarters. With over 5,100 restaurants across China offering delivery service, delivery contributed over 14% of company sales in the third quarter.

    Given the strength of our business and our confidence in generating strong cash flows long term, our Board of Directors has approved a regular quarterly cash dividend program and authorized additional share repurchases.  These demonstrate our strong commitment to increasing shareholder returns through disciplined capital allocation while simultaneously driving strong operating performance.

    With our strong operating results in this third quarter and our commitment to return capital to shareholders, we believe we are well-positioned to continue to increase shareholder value over the long run.”

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  • KFC Australia pilots drone-delivery service in Queensland

    KFC Australia pilots drone-delivery service in Queensland

    In an Australian-first, KFC has enlisted a drone delivery company to bring Zingers and other fried faves to homes and workplaces in the Logan area between Brisbane and the Gold Coast.

    Wing, owned by Google parent Alphabet, launched in Canberra in 2019 in a world-first, and in Logan the following year.

    Since then, suburbs within a 10km radius have been having burgers, groceries, pharmacy items, hardware products, coffee and other products zoomed in via 5kg styrofoam drones that can carry up to 1.5kg.

    Under a pilot program kicking off on Friday, the world’s most famous fried chicken brand will initially be available to a small number of households in the South East Queensland suburbs of Kingston, Logan Central, Slacks Creek, Underwood, and Woodridge.

    The service will gradually expand to include other nearby locations, Wing says, dubbing Logan “the drone delivery capital of the world”.

    “You know the future truly is here when you can get hot, fresh Kentucky Fried Chicken delivered by a drone from the click of a few buttons,” KFC Australia chief marketing officer Kristi Woolrych said.

    Wing says the number of deliveries rocketed last year as the pandemic raged on and strong demand has continued in 2022.

    Earlier this week, spokesman Jesse Suskin said the company was planning expansion in Australia.

    “We’ll be in more places in southeast Queensland. We’ve submitted for those permissions from our regulators,” Mr. Suskin said.

    “For other states, we’re actively starting to have those conversations right now.”

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