yum! brands inc (YUM) Key Developments
Yum! Brands, Inc. Appoints Elane Stock as Member of Audit Committee
Jan 27 15
On January 22, 2015, the Board appointed Ms. Elane Stock to the Board's Audit Committee, effective immediately.
Yum Reportedly In Talks To Sell KFC Business In West India
Dec 20 14
Yum! Restaurants (India) Private Limited is in talks to sell assets. A person close to the matter said that Yum! Restaurants India is in talks with Samara Capital to sell KFC restaurant chain business in West India. An official stated, “There are multiple buyers keen on buying Yum!'s KFC West business, given the brand's well-established equity. Yum! is keen on partnering with a PE fund rather than selling the business to one of its existing franchise partners. Samara is a likely contender for the business.” Yum! Brands, Inc. (NYSE:YUM) directly operates 18 KFC outlets in the region. According to the report, Co-Founder and Managing Director of Samara Capital Partners, Sumeet Narang was unreachable for comment while Yum! Restaurants India spokesperson declined to comment. The spokesperson added, “Yum! India is uniquely well positioned with both equity and well capitalized franchisees across all markets including the West, which is predominantly a franchise market. Yum! is one of the fastest growing restaurant companies in India and while we continue to explore opportunities in the course of business, as a policy we do not comment on market speculation.”
Yum! Announces Same-Store Sales Results in China for the Month of November 2014
Dec 12 14
Yum! announced same-store sales results in China for the month of November 2014. The company's same-store sales value in China dropped 15% in November. Because of the scandal of suppliers this summer, the sales in China resumed at a lower speed than expected.
Yum Brands Inc. Revises Earnings Guidance for the Year 2014; Provides Earnings Guidance for the Year 2015
Dec 9 14
Yum Brands Inc. revised earnings guidance for the year 2014 and provides earnings guidance for the year 2015. Yum Brands Inc. announced that its sales in China are recovering more slowly than expected after a food-safety scare, hampering its overall profits. The company says its sales in China are not rebounding as quickly as expected. As a result, it expects earnings per share growth for 2014 in the mid-single digit range. Yum previously forecast a 6% to 10% gain.
Yum, anticipates earnings per share growth of at least 10% for 2015.
Yum! Brands Puts Up For Sale Its KFC Business In Western India
Nov 27 14
Yum! Brands, Inc. (NYSE:YUM) has put its company-owned KFC business on the block in western India, reported The Economic Times. Yum! Brands wants to sell the business to a franchisee to avoid real estate costs such as rents, staff costs and other overhead expenses that are corroding its profitability. A Yum! spokesman said in response to ET's query, "While we continue to explore opportunities in the course of business, as a policy, we do not comment on market speculation."