Find in the news:
BY COUNTRY

Earnings for the owner of KFC and Pizza Hut were higher than expected



Yum Brands, which owns the Taco Bell, Pizza Hut, and KFC chains, reported better-than-expected earnings than Wall Street analysts had expected.
KFC - Depositphotos

The mass closure of fast-food restaurants in 2020 was bound to impact Yum Brands' earnings. The company quickly adjusted, focusing on grocery delivery. As a result, it was able to weather the crisis relatively easily.

We now know that Yum Brands' revenue for the last fiscal quarter was even slightly higher than expected - $1.74 billion versus the forecasted $1.72 billion. Net income was $332 million, or $1.08 per share. That's still below the $488 million, or $1.58 per share, reported a year earlier.

Only Taco Bell saw an increase in sales, up 1 percent for the quarter. Most of the brand's restaurants are in the U.S., where fast-food chains have recovered quickly. The decline in sales in other countries has not been incredibly impactful on the brand.

But the KFC chain, with locations around the world (only 18% of the network accounts for the domestic market), failed to show growth. As a result, while in the U.S. there was noted sales growth of 8%, worldwide there was a decline of 4%.

In Pizza Hut, which has historically been perceived as more of a takeaway company, sales fell only 1%. And this happened again because the network's restaurants are located in many countries around the world (in the home market, by contrast, there was an increase of 8%).

The only Yum Brands brand that failed to show growth even in the U.S. is the Habit Burger Grill chain acquired last year. However, given that this burger chain is relatively small compared to others in the industry, this had little impact on its bottom line.

Yum also reported it opened 227 new restaurants during the quarter. In doing so, Pizza Hut was the only brand in the company that closed more stores than it opened. Some of the difficulty in opening new restaurants is reportedly due to the difficulty obtaining building permits during the pandemic.

The company declined to provide a forecast for the fiscal year 2021, citing uncertainty caused by the crisis.

Photo credit: depositphotos.com.

More about shopping malls in the USA



Sep 20, 2021, Japan:
The top floor of the world's most popular Japanese department store now has its cafe.
Sep 20, 2021, USA:
The owners of the American Dream decided not to wait until the luxury "Avenue" was at least half full.
Sep 17, 2021, USA:
The retailer is ready to invest in retail development in the U.S. market, which was hit by the crisis.
Sep 17, 2021, Spain:
Worldwide sales are recovering, both at retail and through online channels.
Sep 15, 2021, France:
The total area of the new retail space in the Madeleine area will be 724 square meters.
Sep 14, 2021, USA:
The 30-day subscription, which allows you to buy one taco a day, costs $5 and $10.
Friend
and Follow
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul
Asheville Outlets GLA:325 000 SF
ADDRESS: 800 Brevard Road, Asheville, NC 28806
USA . Asheville
Asheville Outlets
K in Lautern GLA:224 966 SF
ADDRESS: 67655 Kaiserslautern
Germany . Kaiserslautern
K in Lautern
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us