Fast-food giant Yum Brands Inc. said Tuesday that first-quarter profit rose 14 percent, as its international business soared while its brands suffered in the U.S.
The operator of KFC, Taco Bell and Pizza Hut said U.S. results were down for the three months ended March 24 in the wake of two highly public black eyes — an E. coli outbreak at some Taco Bell restaurants on the East Coast and a rat infestation at a franchise KFC/Taco Bell store in New York City.
Still, the overall quarterly results easily outperformed Wall Street expectations, and the company raised its full-year outlook in predicting a rebound in U.S. sales.
“We expect that the enduring strength of our brands and the plans we have in place will enable us to be back on track for improved U.S. performance during the second half of 2007,” said Yum Chairman and CEO David C. Novak.
FranchiseBrief.com on May 2nd, 2007 at 4:39 pm
Good ol’ Yum Brands still ruling the franchise world!!