Yum Brands predicts another round of restaurant expansion overseas, turnaround at Taco Bell |
| Washington Post - Feb 7, 2012 |
Yum Brands Inc., the owner of Taco Bell, KFC and Pizza Hut, said Tuesday it’s on course to deliver another hefty round of restaurant growth overseas in 2012, led by its insatiable China market and its emerging business in India.
The company also reported a turnaround at Taco Bell in the U.S., after sluggish sales stirred by publicity from a now-dropped lawsuit that claimed the filling in its tacos and burritos didn’t contain enough beef to be called that. Taco Bell denounced the accusations as false.
“Our sales at Taco Bell turned positive late in the fourth quarter and they continue to be positive,” Yum Chairman and CEO David C. Novak told industry analysts in a conference call one day after Yum reported its fourth-quarter profit rose 30 percent.
Yum shares traded higher Tuesday as it forecast continued strong overseas profit and improvement in its struggling U.S. business.
Read Full Article from Washington Post
- Posted: 2012-02-07 14:40:45
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