Yum shares fall after sales miss expectations

Markets Associated Press

FILE - This Jan. 31, 2014, file photo, shows a Taco Bell facade behind a KFC drive-thru sign in Saugus, Mass. Yum Brands, which operates Taco Bell, KFC, Pizza Hut, and WingStreet, reports financial results on Wednesday, Oct. 5, 2016. (AP Photo/Elise ... Amendola, File) (The Associated Press)

Yum's shares fell after the parent company of KFC, Taco Bell and Pizza Hut reported a quarterly profit and sales on Wednesday that missed Wall Street expectations.

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The company said sales at established locations for its China unit, which it is spinning off in coming weeks, fell 1 percent during the period.

Its Pizza Hut division also saw a 1 percent decline in sales at established locations, while the figure rose 4 percent for KFC. The figure rose 3 percent for the Taco Bell division, which mostly reflects the U.S.

For the quarter, Yum Brands earned $622 million, or $1.56 per share. Adjusted earnings were $1.09 per share, a penny less than analysts expected, according to FactSet.

Total sales were $3.32 billion, also short of Wall Street expectations.