Yum Brands Faces Sales Decline as Taco Bell and KFC Struggle
Originally Published 1 year ago — by CNN
Yum Brands, the parent company of Taco Bell, KFC, and Pizza Hut, reported weaker-than-expected sales in the fourth quarter, with Taco Bell's sales growth declining steeply from the previous year. The company's overall same-store sales rose only 1%, missing analysts' estimates, as price-conscious consumers push back against rising fast food prices amid a surge in dining out costs compared to grocery prices. This trend is impacting lower-income consumers, a vital base for fast food chains, and is reflected in disappointing earnings reports across the industry.