Restaurant News Hubb
Advertisement
  • Home
  • News
  • Restaurants & Services
  • Contact us
No Result
View All Result
  • Home
  • News
  • Restaurants & Services
  • Contact us
No Result
View All Result
Restaurant News Hubb
No Result
View All Result
Home Restaurants & Services

Yum Brands meets Q2 sales expectations

admin by admin
August 3, 2022
in Restaurants & Services


Aug. 3, 2022

Yum Brands quarterly same-store sales met its estimates as more people dined out during Q2 and the brand held steady in tacos, pizza and fried chicken, according to a press release.

Taco Bell’s same-store sales were up, though the company has a smaller international footprint than Yum’s other brands.

Yum’s shares were up about 1% in premarket trading.

“Our second-quarter system sales grew 5% excluding Russia, driven by sustained development momentum,” David Gibbs, CEO, said in a statement. “Despite a complex operating environment and lapping the strongest same-store sales growth in our history, our global business continues to perform well, led by industry-leading results at Taco Bell U.S. including 8% same-store sales growth and in-line margins year-over-year. We are pleased with the continued growth of our digital business with digital sales of nearly $6 billion, fueled by the adoption of our global platforms and capabilities. Our second quarter results demonstrate the resilience and power of our unmatched global scale, unrivaled talent and world-class franchise partners that are the driving force behind the success of our iconic brands.”

Yum Brands is also in the process of transferring ownership of its Russian KFC units to a local operator who plans to rebrand the restaurants.

Other highlights included:

  • Worldwide system sales grew 3%, excluding foreign currency translation, with KFC at 1%, Taco Bell at 10% and Pizza Hut flat.
  • During the second quarter, 781 gross units were added, resulting in 463 net-new units offset by the removal of 1,165 Russia units for a total decline in unit count of 702 units during the quarter.
  • Russia units do not impact the brand’s same-store sales results for the quarter.
  • Worldwide same-store sales excluding China grew 6% during the quarter.
  • Foreign currency translation unfavorably impacted divisional operating profit by $23 million.



Source link

Tags: Finance / InvestmentOperations
Previous Post

Inflation, higher menu prices dampen restaurant visit activity

Next Post

Taco Bell’s sales surged, thanks to the Mexican Pizza

Next Post

Taco Bell’s sales surged, thanks to the Mexican Pizza

Recommended

Chopt to open contactless order store in Virginia

July 31, 2022

Daily Veg Announces First Franchise Partner and New Location in North Wilmington

August 12, 2022

Nekter promotes SVP to COO

July 30, 2022

Restaurants Should Invest in Tech Tools: You Can’t Afford Not To

July 29, 2022

Don't miss it

Restaurants & Services

California-based Epic Wings to open first Florida location

August 12, 2022
News

Fast Casual Hall of Fame inductees include Fazoli’s, Panera Bread, Native Brand leaders| Fast Casual Executive Summit

August 11, 2022
Restaurants & Services

Fat Brands will pay $2.5M to settle shareholder lawsuit

August 11, 2022
News

Krystal Excites the Night With Ray J

August 11, 2022
News

NYC Hotels Roll Out Great New Breakfasts

August 11, 2022

restaurant-20

© 2022 Restaurant News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy.

Navigate Site

  • Home
  • News
  • Restaurants & Services
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • News
  • Restaurants & Services
  • Contact us

© 2022 Restaurent News Hubb All rights reserved.