Yum Brands Earnings Miss Estimates as China Weighs on KFC, Pizza Hut Sales

Taco Bell was the only chain in Yum’s portfolio to report better-than-expected same-store sales growth.

KFC reported same-store sales growth of 3% during the period, but Yum said, excluding China, same-store sales for the fried chicken chain actually climbed 10%. China is KFC's largest market by system-wide sales. Wall Street was anticipating same-store sales growth of 4.4%, according to StreetAccount estimates.

Likewise, China also weighed on Pizza Hut's results. The market is the pizza chain's second-largest. Pizza Hut reported flat same-store sales growth for the quarter. International markets, including China, saw same-store sales rise 5%. Pizza Hut's U.S. sales were also under pressure. The chain said same-store sales declined 6% in its home market.

Taco Bell was the only chain in Yum's portfolio to report better-than-expected same-store sales growth, at 5% versus an expected 2.7%.

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