The Pizza Hut chain in Israel posted losses amounting to NIS3.2m (US$680,000) during the first nine months of fiscal 2002.
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Revenues in that period (April-December 2002) totalled NIS17.6m. Since the chain has been purchased by Alon-Dor Fuel Company, it carried out a series of efficiency measures, such as closing down non-profitable branches, reducing rented spaces and increasing the number of Pizza Hut stores in Alon-Dor fuel stations. A report in Maariv notes that despite all these efficiency measures, “the chain still posts losses.”
A competing chain, Omni, which owns Domino’s Pizza, reported that in the first 9 months of fiscal 2002 it lost NIS5.1m. The company announced it will carry out a reconstruction plan, including firing middle management staff and introducing a new marketing strategy.
