Yum Brands Profit Jumps on China Business

Yum! Brands Inc. on Wednesday said its first-quarter earnings rose 11%, helped by strong sales in China, a market critical to the restaurant chain.

Yum, which operates KFC, Pizza Hut and Taco Bell chains, has pinned much of its future on the fast-growing Chinese market, where it operates more than 3,500 KFC and Pizza Hut restaurants and plans to open 500 more locations this year.

After a recent slowdown, Yum said same-store sales increased 4% in mainland China, exceeding analyst expectations, while profits rose more than a third. Results benefited from strong sales at the Chinese New Year.

"We're not ready to say the Chinese consumer has recovered, but we've seen signs that their confidence is improving," a Yum spokesman said.

Read Full Article from Wall Street Journal

- Posted: 2010-04-15 11:08:35

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