New York/Chicago — The dining-chain company Yum! Brands saw its quarterly results pulled down by a surprise drop in same-stores sales at Pizza Hut, sending the shares down on Thursday. The parent company of Taco Bell, KFC and Pizza Hut, which split off its China operations in 2016, has tried to revitalise its pizza brand amid stiff competition from Domino’s Pizza and Papa John’s International. Yum! has been trying to improve the chain’s appeal by embracing delivery, but discounts across the entire fast-food industry are making it difficult to drive growth. Yum shares slid as much as 3.1% in early trading, even after it beat on profit and revenue. The stock had dropped 2.6% this year through the close of trading on Wednesday. Pizza Hut comparable sales fell 1% in the latest quarter, while analysts had projected a 1% gain, according to Consensus Metrix. Globally, Yum’s comparable sales rose 1%, missing estimates for 1.9% growth. Rival sputters In an effort to drive a turnaround, Pizza...
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