Yum Brands has reported higher sales for the third quarter, primarily driven by the solid performance at KFC.
The company lifted worldwide sales by 3 per cent during the quarter ended September 30, amid a 7 per cent increase in unit count. Same-store sales were flat.
At KFC, system sales rose 6 per cent, with same-store sales up 1 per cent. Meanwhile, Taco Bell saw a 2 per cent decrease in system sales and 4 per cent drop in same-store sales, following a very strong second quarter.
Core operating profit was down 4 per cent, but up 1 per cent when excluding Pizza Hut.
The company completed the sale of the Pizza Hut brand in Mainland China to Yum China and in other markets to LongRange Capital in August and September.
“Yum has entered its next chapter of growth, having completed the divestiture of Pizza Hut, with a sharper focus on our Raise the Bar priorities,” said CEO Chris Turner.
“With iconic brands, unmatched global scale and significant development white space, we remain confident in our ability to deliver consistent earnings growth and create long-term shareholder value,” he added.