KFC Owner Yum Brands Disappoints On KFC, Pizza Hut Weakness
- Company points to bleak consumer sentiment, Middle East war
- Taco Bell outperformed and its expected to continue growing
A KFC restaurant in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Yum! Brands Inc.’s sales fell more than expected in the third quarter, with growth at Taco Bell unable to offset ongoing softness at Pizza Hut and KFC.
Taco Bell’s comparable sales rose 4%, outpacing expectations. But the company’s overall performance in that metric declined 2%, deeper than the average analyst estimate. Yum pointed to weak consumer sentiment and geopolitical tensions, including in the Middle East, as the root of the challenges.