202

Taco Bell sales jump, helping Yum’s profit beat expectations

This Thursday, Dec. 15, 2016, photo shows a Taco Bell restaurant in Metairie, La. Yum Brands Inc. reports earnings, Wednesday, May 3, 2017. (AP Photo/Gerald Herbert)

LOUISVILLE, Ky. (AP) — Yum Brands reported a better-than-expected profit for the first quarter as Taco Bell’s sales jumped.

The Louisville, Kentucky company said sales rose 8 percent at established locations for its Taco Bell division, which has stores mostly in North America. The KFC unit saw U.S. sales climb 2 percent, while Pizza Hut’s struggles continued with a 7 percent decline. Pizza Hut has suffered slumping sales as rival Domino’s has enjoyed six straight years of quarterly sales growth, boosted by its efforts to make ordering easier.

For the quarter, Yum Brands said it earned $280 million, or 77 cents per share. Adjusted for non-recurring gains, earnings came to 65 cents per share. That was better than the 60 cents per share analysts expected, according to Zacks Investment Research.

Total revenue for the quarter was $1.42 billion, also exceeding Street forecasts for $1.35 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on YUM at https://www.zacks.com/ap/YUM

_____

Keywords: Yum Brands, Earnings Report, Priority Earnings

Copyright © 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.



Advertiser Content