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Revenue and profit declines at Yum Brands tied to pizza chain troubles and Grubhub investment
Pizza Hut closures, dismal results to KFC’s Cheetos Sandwich promotion and charges tied it its Grubhub investment led to third-quarter revenue and profit declines for Yum Brands.
Taco Bell, however, lifted its parent company, once again. The Irvine, Calif.-based quick-service chain reported a 4% increase in same-store sales, driven by two menu promotions: Steak Reaper Ranch Fries and the return of the Triple Double Crunchwrap.
CEO Greg Creed, who bid the investor community farewell during his last earnings call, said he is “immensely proud” of the progress at Taco Bell and KFC. However, he and Yum President and Chief Operating Officer David David Gibbs spent most of the call addressing increasing challenges at Plano, Tex.-based Pizza Hut.
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