Pizza Hut reveal fourth consecutive quarter of negative sales
Yum! Brands have revealed their Q2 results in a call to investors, they announced that worldwide system sales grew by 6%, KFC and Taco Bell at 7% and Pizza Hut at just 2%.
The company also opened 174 net new units for 3% net new unit growth. 244 restaurants were also refranchised, including 40 KFC, 163 Pizza Hut and 41 Taco Bell units, for proceeds of $136 million.
Greg Creed, CEO, said: “I’m pleased Yum! Brands’ intensified focus on our four distinct growth drivers helped deliver another successful quarter.”
“Core operating profit grew 19% and EPS excluding special items grew 21% during the second quarter.”
“We are maintaining our full-year 2017 guidance and are on pace with our multi-year transformation strategy designed to further unlock shareholder value.”