In its first-quarter earnings report, Yum! Brands Inc. showed green shoots of recovery in China, momentum for growth in emerging markets around the world and positive initial results for Taco Bell’s breakfast platform in the United States. The China system’s operating profit fell 23 percent in fiscal 2013 after fears of a contaminated poultry supply and a renewed outbreak of avian flu sent same-store sales at the country’s more than 4,000 KFC locations crashing. For the ...

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