Yum Brands China October Same-Store Sales Grow 5% Year-Over-Year
November 12 2015 - 5:40PM
Dow Jones News
By Maria Armental
Yum Brands Inc. said same-store sales for its struggling China
division grew 5% in October, helped by growth at KFC but weighed by
Pizza Hut, though growth was slower than its September pace of
6%.
Shares of the company, which have declined 17% in the past three
months, climbed 4.1% after hours. Wednesday's monthly report, which
came via securities filing, is the first since Yum said last month
it planned to spin off its Chinese unit next year, once at the
center of the company's expansion plans. The unit, which accounts
for about half of total sales, had weighed on results amid food
quality concerns.
Yum backed its same-store sales growth guidance for the quarter
of flat to 4%, though it noted "same-store sales remain difficult
to forecast in China."
Yum, which also owns the KFC and Taco Bell chains, reported an
8% sales increase in China in the third quarter, with sales at
established stores increasing 2%.
Write to Maria Armental at maria.armental@wsj.com
Access Investor Kit for "Yum! Brands, Inc."
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US9884981013
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 12, 2015 17:25 ET (22:25 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
Yum Brands (NYSE:YUM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Yum Brands (NYSE:YUM)
Historical Stock Chart
From Apr 2023 to Apr 2024
