Yum Brands Inc missed earnings expectations, largely hit by a write down in the ...
“The Pizza Hut U.S. business... has some unique challenges given the dining state and the conditions of the assets... So that’s what they’re trying to address by moving to a more modern delivery estate,” incoming Chief Executive Officer David Gibbs said.
Overall same-store sales at Pizza Hut were flat, compared with analysts’ estimate of 1.46% growth. KFC rose 3%, also missing expectations. “That was one of the big bull pieces to the story, the big Pizza Hut turnaround... it seems to be falling kind of flat.”
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