Although business is thriving for KFC, Collins Foods CEO Drew O’Malley said that a price increase of 1-2% was possible, though he was unable to predict when it would occur.
Additionally, Mr. O’Malley said that for at least the upcoming month, KFC burgers would still include cabbage.
He anticipated that the lettuce shortage will end in five to seven weeks, or around the middle of August.
Collins Foods, which runs KFC and Taco Bell in Australia as well as KFC in Europe, reported an increase in revenue of 11% to $1.18 billion on Tuesday.
Like its price increases in January and June 2022, KFC will raise prices by 1% to 2%.
The data were made public as part of Collins’ financial year 2022 reporting, and one of the boasts made was that KFC is catching up to McDonald’s, the undisputed leader in fast food in Australia.
According to statistics from 2020, more Australians over the age of 14 ate Maccas than KFC—8,120,000 in comparison to 6,816,000.
According to Collins’ most recent reporting, “KFC currently leads McDonald’s on both quality and value perception rankings.”
Additionally, it disclosed that it was testing drone deliveries of meals made in “dark” kitchens and not bearing the KFC logo in five Brisbane neighborhoods.
According to the paper, trials revealed that deliveries were ‘twice as fast as regular delivery.
According to the Australian Financial Review, a drone delivery was only able to deliver an order to a customer’s home in four minutes and 30 seconds.
Collins, which operates 261 KFC restaurants in Australia as well as 23 Taco Bell locations, added 10 KFC locations last year.
Between November and May, the group’s “same store sales” increased by 2.5%, and by 4.1% since May 1.
“We do anticipate that something more will be needed,”
Fans of the renowned fried chicken are unlikely to be turned off by price increases even if they do occur at that level.
A burger may cost $30.60 at that rate, while a bucket of 21 pieces of chicken would increase from $34.95 to $35.60 at most.
Mr. O’Malley predicted that KFC will endure despite rising gasoline and electricity costs and ingredient shortages.
He claimed that the KFC brand’s “numbers” were at an all-time high and that KFC was generally “hitting its straps.”