Yum Brands' Earnings Disappoint as Sales Decline at KFC and Pizza Hut
Yum Brands reported lower-than-expected earnings and revenue for the third quarter, with same-store sales declines at KFC and Pizza Hut contributing to the shortfall. The company's earnings per share were $1.37, missing the expected $1.41, and revenue was $1.83 billion, below the anticipated $1.90 billion. KFC's U.S. sales fell 5%, while Pizza Hut's international sales dropped 6%. In contrast, Taco Bell saw a 4% increase in same-store sales, bolstered by its strong value perception among consumers.