Pizza Hut, Taco Bell parent Yum misses same-store sales estimates

Food and BeverageReuters

(Reuters) - Yum Brands Inc (NYSE:YUM) reported fourth-quarter same-store sales that missed estimates on Thursday on weak demand at its Taco Bell and Pizza Hut chains.

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Sales at its restaurants open at least a year rose 2 percent, missing the Thomson Reuters I/B/E/S estimate of 2.33 percent.

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Total revenue fell 17.4 percent to $1.58 billion, lower than the analysts' estimate of $1.59 billion, according to Thomson Reuters I/B/E/S.

Yum announced in a separate release on Thursday it would buy a 3 percent stake in online food-ordering company GrubHub Inc (NYSE:GRUB) for $200 million to increase sales through pickup and deliveries at its KFC and Taco Bell restaurants in the U.S.

(Reporting by Nivedita Balu)

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