Slow Pizza Hut sales in the U.S. weigh on Yum Brands' revenue
Publishing timestamp: 2023-11-01 16:07:48
Summary
Yum Brands reported better-than-expected earnings, but its quarterly revenue fell short of estimates. Pizza Hut's same-store sales growth was weaker than expected, while KFC and Taco Bell outperformed expectations. Yum's same-store sales grew 6% in the quarter, helped by strong sales at Taco Bell's U.S. locations and KFC's international restaurants. Yum China reported that sales had softened in late September through October, impacting its fourth-quarter results. Yum Brands expects to outperform its long-term growth algorithm. Yum's stock closed up less than 1%, while Yum China's tumbled more than 15%.
Sentiment: MIXED
Tickers: YUMC, YUM, 9987-HK, QSR-CA, DPZ, QSR,
Keywords: yum china holdings inc, earnings, business, breaking news: markets, domino's pizza inc, united states, business news, yum! brands inc, restaurants, restaurant brands international inc, china, dividends, retail industry, breaking news: business, markets,
Source: https://www.cnbc.com/2023/11/01/yum-brands-yum-q3-2023-earnings.html