Yum Brands tops same-store sales estimates on Taco Bell boost

Food and BeverageReuters

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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.

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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.

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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.

TickerSecurityLastChange%Chg
YUMYUM! BRANDS101.30+0.43+0.43%

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.

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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)