Yum Shares Gain As China Same-store Sales Recover
Yum Brands Inc. shares gained in Tuesday's extended session after the fast-food restaurant operator reported its sales in China recovered last month. Yum said same-stores sales in China rose 1% in December versus a decline of 3% in November, in part on 5% growth at KFC. In the fourth quarter, which includes the month of September, same-store sales increased 2%. Sales at KFC were up 6% but down 8% at Pizza Hut in the quarter. Yum will no longer release monthly China sales data going forward ahead of the planned separation its China operations into a separate business by the end of 2016. Shares of Yum Brands rallied 3.1% in after-hours trading.
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