Pizza Hut 2009 Annual Report Download - page 132
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41
2008 vs. 2007
Income / (Expense)
2007
Store
Portfolio
Actions Other FX 2008
Company Sales
$
2
,
075
$
588
$
150
$
245
$
3
,
058
Cost of Sales
(
756
)
(
220
)
(
84
)
(
92
)
(
1
,
152
)
Cost of Labor (273 ) (88) (29) (33 ) (423)
Occupancy and Other
(
629
)
(
196
)
(
21
)
(
73
)
(
919
)
Restaurant Profit
$
417
$
84
$
16
$
47
$
564
Restaurant Margin 20.1 % 18.4
%
In 2009, the increase in China Division Company Sales and Restaurant Profit associated with store portfolio actions was
primarily driven by the development of new units and the acquisition of additional interest in and consolidation of a
former China unconsolidated affiliate during 2009. Significant other factors impacting Company Sales and/or Restaurant
Profit were Company same store sales declines of 1% and commodity deflation (primarily chicken) of $61 million.
In 2008, the increase in China Division Company Sales and Restaurant Profit associated with store portfolio actions was
primarily driven by the development of new units and the consolidation of a former China unconsolidated affiliate at the
beginning of 2008. Significant other factors impacting Company Sales and/or Restaurant Profit were Company same
store sales growth of 7% and commodity inflation (primarily chicken) of $78 million.
Form 10-K