Officials for Louisville, Ky.-based Yum! Brands Inc. admitted to investors that fiscal 2013 would be “disappointing,” based on the six-to-nine-month time frame the company is projecting for a full sales recovery in China for its KFC brand. But chief executive David Novak reiterated during Yum’s first-quarter earnings call that the company intends to come back even stronger next year, and brand-building efforts in China and continued margin improvements in the United ...

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