Yam Brand On Thursday, quarterly revenue and revenue were reported when KFC’s international restaurant and Taco Bell sales beat Wall Street estimates, backed by strong sales.
The company’s shares rose more than 7% in morning trading.
Based on the LSEG analyst survey, the company has reported what the Wall Street expected.
Earnings per share: $1.61 adjusted vs. $1.60 forecast: $23.6 billion vs. $2.35 billion
The restaurant company reported $433 million, $443 million ($1.49 per share), or $433 million ($1.49 per share), from $1.62 per share the previous year. Excluding franchise profits and other items, Yum won $1.61 per share.
Net sales increased 16% to $2.36 billion. Over half of Yum’s quarterly sales are digital, including online and shipping orders and placed through in-store kiosks.
Thanks to Taco Bell, sales at the same Yam store rose 1% in the quarter.
Taco Bell reported the same store sales growth of 5%. Executives have previously acknowledged the chain’s strong perception of value for success in recent quarters.
Sales at the same KFC store remained flat for the quarter, but the fried chicken chain has, for example, strong demand outside the US, with KFC’s system sales, for example, increasing 5% in the quarter. . Europe and Latin America reported sales growth for their double-digit systems. Sales in the chain’s international same store increased by 1% overall in the quarter.
Meanwhile, in the home market, KFC’s same U.S. store sales slipped 5%. Popeyes overtakes KFC to become the second largest chicken chain in the United States, with other startups like cane growing rapidly. Yum tapped Taco Bell’s North American President Scott Mezvinsky as KFC’s new CEO from March.
Pizza Hut, a delay in Yum’s portfolio, reported a 1% decline in sales for the same store in the quarter. The pizza chain’s sales in the same U.S. store fell by 2%, but its international business reported that it has set its sales for the same store.
“In the US, sales were under pressure due to more valuable competition in both the QSR industry and the pizza category,” Yum CEO David Gibbs said during the company’s conference call. “I have seen everyday values such as $7 contract enthusiasts effectively drive repeated visits from existing consumers. But to attract lighter, lapsed consumers, I have They must lean towards even more disruptive and unique value promotions.”
Yum opened 1,804 new restaurants during the quarter, with units increasing by 5%.
The company also deploys BYTE, its proprietary artificial intelligence-driven software for Pizza Hut, Taco Bell and KFC. For example, the technology makes it easier for consumers to order digitally and reduces kitchen complexity for employees, executives said.
“We offer franchisees a much more turnkey solution that offers us more capabilities in how we can grow,” Gibbs said.
