Yum Brands Earnings Miss Estimates as China Weighs on KFC, Pizza Hut Sales

Taco Bell was the only chain in Yum’s portfolio to report better-than-expected same-store sales growth.

KFC reported same-store sales growth of 3% during the period, but Yum said, excluding China, same-store sales for the fried chicken chain actually climbed 10%. China is KFC's largest market by system-wide sales. Wall Street was anticipating same-store sales growth of 4.4%, according to StreetAccount estimates.

Likewise, China also weighed on Pizza Hut's results. The market is the pizza chain's second-largest. Pizza Hut reported flat same-store sales growth for the quarter. International markets, including China, saw same-store sales rise 5%. Pizza Hut's U.S. sales were also under pressure. The chain said same-store sales declined 6% in its home market.

Taco Bell was the only chain in Yum's portfolio to report better-than-expected same-store sales growth, at 5% versus an expected 2.7%.

Vi har oppsummert denne nyheten slik at du kan lese den raskt. Er du interessert i nyhetene kan du lese hele teksten her. Les mer:

nbcchicago /  🏆 545. in US

Norge Siste Nytt, Norge Overskrifter

Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.

15 AAPI-Owned Beauty Brands to Shop Right NowFrom complexion formulas to high-tech skin care, the Asian American and Pacific Islander (AAPI) community has had an outsized impact on the beauty industry.
Les mer »

10 Great Plus-Size Clothing Brands To Check Out—Including Lizzo's New Shapewear Line, YITTY!Lizzo's new shape wear line will have you out here looking 'good as hell,' and 9 more plus-size clothing brands to check out. lizzo shapewear yitty plussizefashion
Les mer »

Consumers seeking more contextual storytelling from brands: Condé NastConsumers have increasingly higher expectations around community, and luxury marketers need to foster these connections to be successful.
Les mer »

Estee Lauder: Cosmetics rebound outside of ChinaThe makeup giant cut its sales forecast due to Covid restrictions in China.
Les mer »

Pfizer beats Q1 estimates as COVID vaccine and antiviral boost revenuePfizer Inc. undefined posted better-than-expected first-quarter earnings on Tuesday, boosted by sales of its COVID-19 vaccine and antiviral Paxlovid. The...
Les mer »