Yum Says China Same-Store Sales Fell After Supplier Probe
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Yum! Brands Inc., owner of the Taco Bell and KFC chains, said fourth-quarter same-store sales fell more than projected in China after a government probe into one of its former suppliers hurt demand.
KFC sales in China in the last two weeks of December had a “significant impact” from “adverse publicity associated with a government review of China poultry supply,” the Louisville, Kentucky-based company said in a filing with the U.S. Securities and Exchange Commission yesterday. China same-store sales fell 6 percent in the fourth quarter, compared with a previous estimate for a decline of 4 percent, according to the filing.