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Yum 1Q Profit Up 73% On Continued Strength In China, US

DOW JONES NEWSWIRES Yum Brands Inc.'s (YUM) first-quarter earnings improved a better-than-expected 73% as results for the fast-food chain continued to benefit from strong growth in China, as well as improvements in the U.S. The parent company of Taco Bell, KFC and Pizza Hut has staked much of its future on emerging markets, especially China, where its Pizza Hut and KFC chains are booming in urban areas. China's rising food and labor costs, as well as signs of an economic slowdown, have put Yum at risk of losing its overseas edge. But robust same-store sales growth there in the fourth quarter proved momentum remains. For the first quarter, China continued to post double-digit same-store sales growth, up 14%, while operating profit rose 14% prior to currency changes. In November, Yum said it is separating its India business into its own standalone segment, a strong indication of its interest in expansion there, given that the only other international market it breaks out is China. Yum's domestic business has struggled, appearing to take a backseat to its international efforts. But though it sold off two smaller domestic chains last year, Yum has said it expects to make a comeback in the U.S. this year, with Taco Bell undergoing a major revamp and Pizza Hut showing same-store sales growing at year's end. U.S. same-store sales growth in the latest period rose 5% as operating earnings were 27% higher. Yum posted a profit of $458 million, or 96 cents a share, up from $264 million, or 54 cents a share, a year earlier. Excluding special items, earnings rose to 76 cents from 63 cents. Revenue increased 13% to $2.74 billion. Analysts polled by Thomson Reuters expected a profit of 73 cents a share on revenue of $2.7 billion. World-wide restaurant margin improved 1.2 percentage points to 18.6% for the quarter. Shares closed Wednesday at $72.94 and were down 1.3% after hours. Through the close, the stock was up 24% so far this year. -By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com

Stock News for Yum (YUM)
DateTimeHeadline
04/20/201406:17:33MARKET SNAPSHOT: Long View On Stocks Is Best During Weak Earnings...
03/28/201412:35:00Yum Brands Unveils New Segment Reporting Structure -- Update
03/28/201412:30:44Yum Brands Combines Existing Divisions Into Global Brand Segments
03/27/201405:20:46Yum Bids to Regain Consumer Confidence in China With New Menu
03/21/201419:38:47Yum CEO's Total Pay Drops 29% to $10 Million in 2013
03/06/201416:43:39MARKET SNAPSHOT: U.S. Stocks Rise: S&P 500 At Record
03/06/201413:29:00MARKET SNAPSHOT: U.S. Stocks: S&P 500 Eyes Record Close
03/06/201411:00:04MARKET SNAPSHOT: U.S. Stocks Rise; S&P 500 Hits Intraday High
02/04/201417:25:41MARKET SNAPSHOT: U.S. Stocks Rise; Michael Kors, Yum Brands Climb
02/04/201414:34:11MARKET SNAPSHOT: Michael Kors, Yum Brands Jump On Earnings
02/04/201412:00:39Correction to Yum Earnings Story on Monday
02/04/201411:37:54Year of the Horse Off to a Better Start for Yum Brands
02/04/201410:56:08MARKET SNAPSHOT: U.S. Stocks Edge Higher; Michael Kors Soars...
02/04/201409:24:54Hot Stocks: Hot Stocks to Watch
02/03/201419:02:35Yum's Profit Slips, But Adjusted Earnings Top Expectations...
02/03/201417:50:32Yum's Profit Slips, But Revenue Rises
01/31/201422:33:05MARKET SNAPSHOT: 'Par' Earnings Not Good Enough After 2013 Stock...
01/31/201416:08:17Jobs Report, Yellen, Results from Media Companies, Twitter, GM...
01/13/201418:10:40Yum Brands' China Same-Store Sales Rose in December
12/03/201309:06:11U.S. Hot Stocks Futures: Hot Stocks to Watch

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