Pizza Hut 2010 Annual Report Download - page 139

42
U.S.
2010 vs. 2009
Income / (Expense)
2009
Store
Portfolio
Actions Other FX 2010
Company sales $ 3,738 $ (378) $ (5) $N/A$3,355
Cost of sales (1,070) 103 (9) N/A (976)
Cost of labor
(
1,121
)
126 1 N/A
(
994
)
Occupancy and other (1,028) 115 5 N/A (908)
Restaurant
p
rofi
t
$
519
$
(
34
)
$
(
8
)
$
N/A
$
477
Restaurant margin 13.9% 14.2%
2009 vs. 2008
Income / (Expense)
2008
Store
Portfolio
Actions Other FX 2009
Company sales $ 4,410 $ (515) $ (157) $N/A$3,738
Cost of sales (1,335) 158 107
N/A (1,070)
Cost of labor
(
1,329
)
157 51 N/A
(
1,121
)
Occupancy and other (1,195) 154 13 N/A (1,028)
Restaurant
p
rofi
t
$
551
$
(
46
)
$
14
$
N/A
$
519
Restaurant margin 12.5% 13.9%
In 2010, the decrease in U.S. Company sales and Restaurant profit associated with store portfolio actions was primarily
driven by refranchising. Other significant factors impacting Restaurant profit were a negative impact from sales mix shift
partially offset by commodity deflation of $7 million. Company same store sales were flat for the year.
In 2009, the decrease in U.S. Company sales and Restaurant profit associated with store portfolio actions was primarily
driven by refranchising. Significant other factors impacting Company sales and/or Restaurant profit were Company same
store sales decline of 4%, commodity deflation of $28 million (primarily cheese), and cost savings associated with
productivity initiatives.
Form 10-K