Louisville, Ky.-based Yum! Brands Inc. rode an 80-percent improvement in first-quarter operating profit in China to an 18.4-percent rise in overall net income to $399 million for the March 22-ended period. Same-store sales rebounded 11 percent at KFC in China.
Around the world, Yum is reporting sales and earnings results by brand outside of China and India. The KFC division’s comparable sales rose 1 percent, while that metric decreased 2 percent and 1 percent, respectively, for Pizza Hut and Taco Bell worldwide. The U.S. divisions of those brands struggled in particular due to severe winter weather, officials said, with same-store sales declines of 4 percent at KFC, 3 percent at Pizza Hut and 1 percent at Taco Bell.
1Q NET INCOME
Result: $399 million, or 87 cents per share% Increase: 18.4% (from $337 million, or 72 cents per share)
1Q REVENUE
Result: $2.72 billion% Increase: 7.1% (from $2.54 billion)
1Q SAME-STORE SALES
% Increase in China: 9%
% Decrease in India: 1%
1Q SAME-STORE SALES OUTSIDE CHINA, INDIA
% Increase at KFC: 1%
% Decrease at Pizza Hut: 2%
% Decrease at Taco Bell: 1%
Source: Company report
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Contact Mark Brandau at [email protected].
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