Taco Bell, KFC drive Yum Brands profit
"Yum! Brands Inc. ended 2018 on a high note, with robust sales at its Taco Bell and KFC divisions and the closing of a deal that arguably returns Pizza Hut to the position of largest pizza chain in the world — a status Domino’s claimed earlier in the year.
In December, Pizza Hut closed a deal announced in May to form an alliance with Madrid-based Telepizza Group to convert some Telepizza units to Pizza Huts and open at least 1,300 new restaurants over the next 10 years and 2,550 unit over 20 years.
Pizza Hut could use the boost. The chain, which closed out the year with 18,431 restaurants compared to 16,748 units at the end of 2017, thanks in part to the Telepizza alliance, reported flat same-store sale for the quarter as well as for the year.
KFC, by contrast, saw a 2 percent increase for the year and 3 percent for the quarter, and Taco Bell saw a 4 percent increase for the year and 6 percent increase for the quarter."
Read the full article by Bret Thorn here.
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