Pizza Hut, KFC and Taco Bell sales bounce back as restrictions ease
Yum Brands said sales at stores open at least a year, a key gauge of a restaurant operator’s health, climbed 9%.
Profit at the company that runs Pizza Hut, Taco Bell and KFC restaurants more than tripled during the first quarter and same-store sales surged as coronavirus restrictions began to lift this year.
Yum Brands earned 326 million dollars (£234 million) for the period ending March 31, which last year was marked by exploding Covid-19 infections in the US.
In that three-month stretch last year, the company’s profit fell to 83 million dollars (£60 million), compared with 262 million dollars (£188 million) in the same three months in 2019.
So the bounceback for the company’s restaurants was better than pre-pandemic levels.
Revenue jumped 18% to 1.49 billion dollars (£1.07 billion), beating expectations.
Sales at stores open at least a year, a key gauge of a restaurant operator’s health, climbed 9%.
KFC’s same-store sales increased 14% in the US, while Pizza Hut’s grew 16%. Those results were double its performances overseas.