Taco Bell and KFC lift Yum Brands quarterly results
Yum Brands beats analysts’ third-quarter revenue and profit estimates, but Pizza Hut sales decline
Yum Brands beat Wall Street estimates for third-quarter revenue and profit on Wednesday, as strong sales at KFC and Taco Bell more than made up for further weakness at Pizza Hut, sending its shares up more than 4%. Competition between big US fast food chains has intensified as Yum, McDonald’s and Domino’s Pizza try to lure cash conscious customers with dollar menus, discounts and new breakfast items. Taco Bell, Yum’s fastest-growing brand, launched $1 nacho fries and a $1 Triple Melt Burritos and nachos in 2018, driving same-restaurant sales up 5% in the third quarter. Analysts had expected a 3% rise. Same store sales at the KFC division also rose 3%, beating expectations of a 2.13% growth, boosted by strong performance in international markets including Russia, Thailand, the Middle East and India. Pizza Hut, however, remained a dark spot for the company, with same-restaurant sales falling 1%, due to declines in the US, where it faces intense competition. The chain has been trying t...
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