Pizza Hut 2011 Annual Report Download - page 136
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32
Multibrand restaurants are included in the totals above. Multibrand conversions increase the sales and points of distribution for
the second brand added to a restaurant but do not result in an additional unit count. Similarly, a new multibrand restaurant,
while increasing sales and points of distribution for two brands, results in just one additional unit count.
System Sales Growth
The following tables detail the key drivers of system sales growth for each reportable segment by year. Net unit growth represents
the net impact of actual system sales growth due to new unit openings and historical system sales lost due to closures as well as
any necessary rounding.
Same store sales growth (decline)
Net unit growth and other
Foreign currency translation
53rd week impact
% Change
% Change, excluding forex and 53rd week
Same store sales growth (decline)
Net unit growth and other
Foreign currency translation
% Change
% Change, excluding forex
2011 vs. 2010
China
19%
10
6
N/A
35%
29%
2010 vs. 2009
China
6%
11
1
18%
17%
YRI
3%
4
5
1
13%
7%
YRI
—%
4
6
10%
4%
U.S.
(1)%
(1)
N/A
2
— %
(2)%
U.S.
1 %
1
N/A
2 %
N/A
Worldwide
3%
3
3
1
10%
6%
Worldwide
2%
2
3
7%
4%
Company-Operated Store Results
The following tables detail the key drivers of the year-over-year changes of Company sales and Restaurant profit for each reportable
segment by year. Store portfolio actions represent the net impact of new unit openings, acquisitions, refranchisings and store
closures on Company sales or Restaurant profit. The impact of new unit openings and acquisitions represent the actual Company
sales or Restaurant profit for the periods the Company operated the restaurants in the current year but did not operate them in the
prior year. The impact of refranchisings and store closures represent the actual Company sales or Restaurant profit for the periods
in the prior year while the Company operated the restaurants but did not operate them in the current year.
The dollar changes in Company Restaurant profit by year were as follows:
China
Income / (Expense)
Company sales
Cost of sales
Cost of labor
Occupancy and other
Restaurant profit
Restaurant margin
2011 vs. 2010
2010
$ 4,081
(1,362)
(587)
(1,231)
$ 901
22.1%
Store
Portfolio
Actions
$436
(150)
(96)
(159)
$31
Other
$ 720
(346)
(166)
(107)
$ 101
FX
$ 250
(89)
(41)
(71)
$ 49
2011
$ 5,487
(1,947)
(890)
(1,568)
$ 1,082
19.7%
Form 10-K