🧵 1. Yum Brands reports mixed quarter, with declining same-store sales at both Pizza Hut and KFC. Net income down to $1.28 per share, below expectations. #business
🧵 1. Yum Brands reports mixed quarter, with declining same-store sales at both Pizza Hut and KFC. Net income down to $1.28 per share, below expectations. #business
🧵 2. Yum's net sales rose 4% to $1.76 billion, driven by new restaurant openings. Same-store sales fell 1% overall, with Pizza Hut and KFC down 3%, and KFC's U.S. sales declining 5%.
🧵 3. KFC saw an uptick in China sales, but international same-store sales fell 3%. Pizza Hut had a 1% U.S. sales drop and 4% international decline. Taco Bell outperformed with a 5% same-store sales increase.
🧵 4. Yum plans AI drive-thru expansion at Taco Bell. The chain's focus on value helped solidify its performance amid consumer spending slowdown. Stay tuned for updates on this evolving story.
🧵 Read more at: https://www.cnbc.com/2024/08/06/yum-brands-yum-earnings-q2-2024.html