Underwhelming results in China have prompted fast food operator Yum Brands Inc to slash its annual growth forecast from 10 percent to low single-digit negative. The owner of KFC, Pizza Hut and Taco Bell chains said it expected same-store sales for the fourth quarter to range from zero percent to 4 percent, with positive same-store sales growth at KFC and negative same-store sales at Pizza Hut Casual Dining For the full year, same-store sales in China are expected to be low single-digit negative, with operating profit likely to remain flat, excluding the impact of foreign exchange, the company said in a statement…Full Article: China Daily Oct 2015
- Yum Brands, based in Kentucky (USA), has 6,867 restaurants (primarily KFC and Pizza Hut) in China.
- In August 2015, there was speculation that Yum Brands would spin off its KFC division after the CEO of Yum’s KFC Division transitioned to the CEO position of Yum China.
- In June 2015, Kentucky Fried Chickens comprised 4,889 out of Yum’s 6,853 (or 71%) restaurants in China.
- KFC is owned by Yum Brands, a company that also manages Taco Bell and Pizza Hut. The company also manages a high-end Italian restaurant in Shanghai called “Atto Primo”.