Yum Brands Q1 profits more than triple buoyed by elevated appetite for fast foods

US – Yum Brands, the owner of KFC, Taco Bell, and Pizza Hut, has had its profits more than triple in Q1 as business improved following easing of Covid-19 restrictions. The company’s profits during the quarter jumped to US$326 million up from US$83 million recorded in 2020. The profits were also higher than the US$262 million earned in the same three months in 2019. Sales at stores open at least a year, a key gauge of a restaurant operator’s health, climbed 9% with KFC’s same-store sales increasing 14% in the…

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Yum China acquires controlling stake in Chinese casual dining franchise business

CHINA – Yum China Holdings, the KFC, Pizza Hut and Taco Bell operator in mainland China has acquired a controlling interest in the Huang Ji Huang group, one of the leading Chinese-style casual dining franchise business.  Founded in 2004 and headquartered in Beijing, Huang Ji Huang has over 640 restaurants in China and internationally. The group operates primarily under a franchise model and its brand portfolio consists of “Huang Ji Huang,” an industry-leading simmer pot brand, as well as “San Fen Bao,” a newly launched Chinese fast food concept in…

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KFC South Africa seeking leniency from payment of rent during lockdown

SOUTH AFRICA – KFC-owner Yum! Brands has told landlords in South Africa that the US firm will not be paying rent while outlets are closed during the three-week government-enforced lockdown to contain the coronavirus pandemic. The decision relates to 48 company-owned outlets in the continent’s most industrialised country, a spokesperson for KFC SA said in e-mailed comments. The remaining 1,145 KFC fried-chicken restaurants across Africa are operated by franchisees who are making their own arrangements, she indicated. One owner of more than 40 KFC shops across four Sub-Saharan Africa countries,…

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Yum! Brands completes US$375m acquisition of The Habit Restaurants

USA – Yum! Brands, the parent company of KFC, Pizza Hut and Taco Bell brands, has completed the acquisition of The Habit Restaurants, following the approval by The Habit Burger Grill stockholders. Yum! Brands, the world’s largest restaurant company in terms of units, acquired all of the issued and outstanding common shares of The Habit Burger Grill for US$14 per share in cash or a total of approximately US$375 million. Founded in California in 1969, The Habit Burger Grill offers a flavor-forward variety of made-to-order items including charburgers, hand-filleted and…

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Taco Bell unveils global sustainable packaging commitments

USA – Taco Bell, the quick-service restaurant operated by Yum! Brands, has made new bold commitments seeking to make all consumer-facing packaging recyclable, compostable or reusable across its restaurants worldwide by 2025. As part of the pledge, the restaurant chain has committed to making available recycling and/or composting bins to all restaurants, where infrastructure permits. Taco Bell will also be removing a group of synthetic chemicals including Per- and polyfluoroalkyl substances (PFAS), Phthalates and Bisphenol A (BPA) from all consumer-facing packaging materials. In addition, the brand has set new ambitious…

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Pizza Hut owner Yum! Brands to acquire The Habit Burger Grill for US$375m

USA – Yum! Brands has entered into a definitive agreement with The Habitat Restaurants to acquire fast-casual restaurant chain, The Habit Burger Grill for approximately US$375 million in a cash transaction. The acquisition of The Habit Burger Grill will add the fast-casual dining restaurant to Yum! Brands, the world’s largest restaurant company in terms of units and parent of the KFC, Pizza Hut and Taco Bell global brands. Founded in California in 1969, The Habit Burger Grill offers a flavor-forward variety of made-to-order items including charburgers, hand-filleted and marinated chargrilled…

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Yum Brands income jumps 8.6% powered by more Taco Bell and KFC diners

USA – American fast food company Yum! Brands has posted strong quarterly performance with 8.6% rise in net income to US$454 million from $418 million in the comparable period last year. The company results indicated that strong sales at KFC and Taco Bell offset continued weakness at Pizza Hut which is losing to competitors in its key market, the United States. Taco Bell and KFC reported same-store sales increases but Pizza Hut had a 1% same-store sales decline in the three months ended September 30. During the review period, the…

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Yum! Brands promotes Vipul Chawla to President of Pizza Hut International

USA – Yum! Brands, Inc., an American fast food company, has announced the promotion of Vipul Chawla, 50, to President of Pizza Hut International, reporting to Yum! Brands Chief Executive Officer Greg Creed, effective December 3, 2018. Chawla, who currently serves as Managing Director of Pizza Hut Asia-Pacific, will assume responsibility for driving the brand strategy and performance of Pizza Hut’s international business outside the U.S. According to the company, Pizza Hut is the world’s largest pizza restaurant company with more than US$12 billion in global system sales and nearly…

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Yum Brands revenue falls 3% as KFC and Pizza Hut fail to beat estimates

USA – Yum Brands, the American global leader in chicken and pizza has reported 3% fall in revenue to US$1.37 billion as its restaurant brands KFC and Pizza Hut fail to reach estimates. According to the company, the overall same-store sales across all of its brands including Taco Bell, Pizza Hut, KFC were up 1% as opposed to the estimated figures by StreetAccount at 1.09%, weighed down heavily by a chicken shortage in the UK in February. The restaurant was forced to shut down hundreds of its KFC outlets after…

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Yum! Brands announces new partnership with KFC and Taco Bell

CHICAGO – Yum! Brands, one of the world’s largest restaurant companies, and Grubhub, have announced a new partnership to drive incremental sales to KFC and Taco Bell restaurants in the U.S. through online ordering for pickup and delivery. YUM also entered into an agreement with Grubhub, the nation’s leading online and mobile takeout food-ordering company, to purchase US$200 million of common stock, subject to customary closing conditions. This investment will provide Grubhub with additional liquidity to accelerate expansion of its industry-leading U.S. delivery network, drive more orders to YUM restaurants,…

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