Yum Brands tops same-store sales estimates on Taco Bell boost
Feb 7 (Reuters) - Yum Brands Inc beat analysts' estimates for quarterly sales at established global outlets on Thursday, driven by strong growth at Taco Bell and KFC.
Taco Bell recorded its strongest growth in same-restaurant sales in seven quarters. Yum has been taking the U.S.-centered brand's burrito and tacos menu overseas in a replay of the success with its KFC business.
Worldwide same-store sales rose 6 percent at Taco Bell and 3 percent at KFC. Analysts were expecting an increase of 4.35 percent and 2.96 percent respectively, according to Refinitiv estimates.
The strong sales helped drive global comparable store sales up 3 percent, topping estimates of 2.48 percent.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| YUM | YUM! BRANDS INC. | 141.80 | +1.70 | +1.21% |
Yum's net income fell 23 percent to $334 million in the three months ended Dec. 31.
Excluding one-time items, Yum earned 40 cents per share.
CLICK HERE TO GET THE FOX BUSINESS APP
Total revenue fell 1 percent to $1.56 billion. Analysts had expected revenue of $1.59 billion.
Yum's shares rose 1.5 percent to $96 in early trading on Thursday. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila)