Yum’s Sales Miss Projections After Slump Persists in China
A KFC restaurant, operated by Yum! Brands Inc., in the pedestrianized Dongmen area of Shenzhen, China, on Aug. 4, 2014.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Yum! Brands Inc., the fast-food company that owns KFC, Pizza Hut and Taco Bell, posted second-quarter sales that missed analysts’ estimates after its beleaguered China segment remained mired in a slump.
Revenue fell 3.1 percent to $3.11 billion in the period, the Louisville, Kentucky-based company said in a statement on Tuesday. Analysts estimated $3.19 billion on average for the quarter, which ended June 13.