Burger King losses grow
posted on 29th July 2014
Increased competition in the burger market, as well as increased costs, are being blamed for the $4.4 million loss made by Burger King in New Zealand in 2013. The loss has increased from $1.9 million in 2012. The New Zealand operation is owned by US private equity firm Blackstone, and is not sub-franchised to individual operators here.
"Burger King New Zealand acknowledges 2013's increased competitive environment, however we remain focused on key business strategies that are right for our business," chief executive John Hunter said in an emailed statement. "Our menu innovation, restaurant expansion and refurbishment programme plus our operational and guest experience strategies remain our core focus for the continued growth of Burger King New Zealand."
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