Yum Brands’ stock tumbles as coronavirus and Pizza Hut’s weak sales expected to hit 2020 results
Article via CNBC
"Yum Brands on Thursday warned that its 2020 results could fall short of its long-term outlook as the Wuhan coronavirus outbreak weighs on sales in China and Pizza Hut struggles to turnaround its U.S. business.
Shares of the company slid more than 4% in morning trading.
“While Yum’s business model is highly diversified such that the impact on our financial performance will not be as significant as what many companies will experience, this will certainly be a headwind for 2020,” CEO David Gibbs told analysts."
Read the full article by Amelia Lucas here.
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