Arby’s Restaurant Group, Inc. (ARG), parent company of the franchisor of the Arby’s brand, has announced an international franchise development agreement with Al-Kharafi Global for General Trading & Contracting Company-WLL (Kharafi Global), to open 25 new Arby’s restaurants in the State of Kuwait and Kingdom of Saudi Arabia over the next seven years. This news follows a strong year of development for Arby’s in 2015 with 69 new restaurant openings globally along with agreements for 138 new restaurants announced in Q1 2016.
“We are excited about the agreement with Kharafi Global as we turn our attention to bringing the Arby’s brand to new markets around the world.,” said Paul Brown, Chief Executive Officer, Arby’s Restaurant Group, Inc. “We welcome Kharafi Global and their experienced restaurant development and operations team into the Arby’s family and have the utmost confidence in their success.”
“We are thrilled to bring the Arby’s brand to guests in Kuwait and Saudi Arabia,” said Haidar Al Naqeeb, Managing Director and Co-Founder, Kharafi Global. “With Arby’s continued strong sales performance, outstanding leadership and robust menu of delicious, Fast Crafted™ products, we believe the future for Arby’s is incredibly bright.”
Arby’s remains on track with its goal to surpass $4 billion in total system-wide same-store sales (SSS) by the end of 2018. In Q1 2016, the Brand announced U.S. System SSS growth of 5.8 percent1 in the first quarter of 2016. Arby’s SSS growth more than doubled a representative sample of the larger Quick Serve Restaurant (QSR) chains2, representing 22 consecutive quarters of SSS growth and 13 consecutive quarters of industry outperformance. Arby’s also reported U.S. System two-year SSS of 15.3 percent in Q1 2016.
1 Source: Internal ARG data; Includes estimates for unreported franchisees at time of release.
2 Source: The NPD Group/SalesTrack® Weekly reports same store sales collected weekly from 45 of the larger Quick Service Restaurant chains during Q1 2016 ending April 3, 2016.
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