Fast Food

Taco Bell parent Yum Brands beats quarterly same-store sales estimates

Nov 2 (Reuters) – Taco Bell parent Yum Brands Inc (YUM.N) beat Wall Street estimates for quarterly comparable sales on Wednesday, as its value-oriented offerings at KFC and Taco Bell attracting consumers amidst soaring inflation.

Fast food chains have been hiking menu prices to keep up with surging commodity and labor costs, but meals at KFC and Taco Bell are still more affordable than eating out at dine-in restaurants keeping demand resilient as inflation forces consumers to rethink their spending habits.

The company, which also owns the Pizza Hut chain, said comparable sales rose 5% in the third quarter, compared to analysts’ average estimate of a 3.2% increase, according to IBES data from Refinitiv.

Same-store sales at Yum’s KFC restaurants rose 7%, while sales rose 6% at Taco Bell in the quarter.

Reporting by Mehr Bedi and Uday Sampath in Bengaluru; Editing by Shailesh Kuber

Our Standards: The Thomson Reuters Trust Principles.

Source link


Your email address will not be published.