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#SapphireFoods #IndiaConsumption #DEVIL #InTheDetail #2QFY23 #DISASTER
Consol Revenues +36% YoY
Store Count (2 Quarter Moving Avg): 37% YoY
Which Explains why .... AVERAGE DAILY SALES per store (₹ ‘000) has been FLAT YoY !! (CHART)
Consol Revenues +36% YoY
Store Count (2 Quarter Moving Avg): 37% YoY
Which Explains why .... AVERAGE DAILY SALES per store (₹ ‘000) has been FLAT YoY !! (CHART)
KEEP IN MIND 2 POINT
(1) Anecdotally Restaurants & QSRs (& FMCG) have raised prices by 15-20% YoY due to inflation
(2) Share of DINE-IN has increased from 33% (KFC) & 23% (PH) to 44% (KFC)/38% (PH) => people spend more/head in DINE-IN due to refreshments & desert
(1) Anecdotally Restaurants & QSRs (& FMCG) have raised prices by 15-20% YoY due to inflation
(2) Share of DINE-IN has increased from 33% (KFC) & 23% (PH) to 44% (KFC)/38% (PH) => people spend more/head in DINE-IN due to refreshments & desert
So Ideally on account of INFLATION ... say 12-15% and higher Share of Dine-in ...Say 20% higher Ticket size per head on 11-15% higher Incremental Dine-in Share...
Across Channels, Avg Ticket per Meal should be higher by atleast 12 to 15% (inflation) PLUS 20% * (avg of 11 & 15%)
Across Channels, Avg Ticket per Meal should be higher by atleast 12 to 15% (inflation) PLUS 20% * (avg of 11 & 15%)
