Pizza Hut closed 361 U.S. restaurants in 2019; Taco Bell and KFC are Q4 standouts as Yum reached 50,000 global restaurants
David Gibbs, in his first earnings as CEO of Yum Brands, said on a Thursday earnings call that the quick-service company will consider more acquisitions like the Habit Burger Grill as the company accelerates growth and works to "urgently" to fix its Pizza Hut division.
During the fourth quarter ended Dec. 31, 2019, Yum reached 50,000 global restaurants. For the year, it opened a record-breaking 2,040 restaurants, up 70% compared to 2016 — the same year the Louisville, Ky.-based company began its refranchising effort. The company also eclipsed $50 billion in sales.
“These are numbers I think we're all incredibly proud of,” Gibbs said.
Still, Yum continues to feel the heat from Pizza Hut, a struggling division hampered by a handful of overle...
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The Habit Burger Grill
