Yum Brands beats same-store sales estimates on pizza, taco cravings
Reuters
Published Jul 30, 2020 07:22AM ET
(Reuters) - Yum Brands Inc (N:YUM) on Thursday beat Wall Street expectations for quarterly same-restaurant sales, as diners sought comfort foods such as pizzas and tacos while under coronavirus lockdowns.
Same-store sales for the second quarter ended June 30 fell 15%. Analysts had forecast a 16.02% fall, according to IBES data from Refinitiv.
Yum, which operates KFC, Taco Bell and Pizza Hut, said net income fell to $206 million, or 67 cents per share, from $289 million, or 92 cents per share, a year earlier.
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Written By: Reuters
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