Yum! Brands Inc., owner of the KFC, Pizza Hut and Taco Bell chains, suffered its worst stock decline in almost 13 years after missing third-quarter profit estimates, hurt by a lingering slump in China.
Same-store sales rose 2 percent in China, the company said in a statement Tuesday. Analysts projected an increase of 9.6 percent, according to Consensus Metrix. Earnings amounted to $1 a share in the period, excluding certain items. That fell short of an average estimate of $1.06.
