Taco Bell, KFC power Yum Brands quarterly results
"(Reuters) - Yum Brands Inc (YUM.N) 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 percent.
Competition between big U.S. fast food chains has intensified as Yum, McDonald’s Corp (MCD.N) and Domino’s Pizza Inc (DPZ.N) 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 this year, driving same-restaurant sales up 5 percent in the third quarter. Analysts had expected a 3 percent rise.
Same store sales at the KFC division also rose 3 percent, beating expectations of a 2.13 percent 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....."
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