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Yum global comps up 3% despite soft economy
October 7, 2008
LOUISVILLE, Ky. — Comparable-store sales at Yum! Brands Inc., parent company of the Pizza Hut, KFC, Taco Bell, Long John Silver's and A&W brands, increased 3 percent for the company's third quarter ended Sept. 6. Comps increased 5 percent in mainland China, 4 percent in the company's international division and 3 percent in the United States.
The increase marked Yum's 20th consecutive quarter of global same-store-sales growth. U.S. same-store-sales growth was led by strong performance at Taco Bell and Pizza Hut, partially offset by a 4 percent decline at KFC.
Revenues for the quarter were $2.8 billion, up 8 percent compared with revenues of $2.6 billion for the third quarter of 2007. Year-to-date revenues were $7.9 billion, up 10 percent compared with revenues of $7.2 billion for the same period last year.
Net income for the third quarter was $282 million, up 4 percent compared with net income of $270 million for the 2007 third quarter. Year-to-date net income was $760 million, up 12 percent compared with net income of $678 million for the first nine months of 2007.
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