Consumer
Taco Bell Owner Yum Rises After Maintaining Profit Outlook
- Company says it can still deliver on its growth targets
- Middle East conflict continues to hinder performance
A Taco Bell restaurant in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Yum! Brands Inc. jumped on Tuesday after the owner of KFC, Pizza Hut and Taco Bell maintained its profitability goal in spite of slower-than-expected sales.
The company still expects to post core operating profit growth in line with its 8% target this year. That measure rose about 10% in the second quarter, surpassing analyst expectations. The company expects its store fleet to grow by 5% this year.