Yum! Brands reports solid first quarter sales
KFC and Taco Bell were main drivers of that growth.
Yum! saw system sales grow by 8% in the first-quarter ended March 31, 2019, with same-store sales rising by 4% during the period. Of the worldwide system sales, KFC saw 9% growth, while Taco Bell and Pizza Hut was at 7%.
Subsequently, core operating profit jumped by 12%, with KFC and Pizza Hut at 14% growth and Taco Bell at 5%.
“The third and final year of our transformation is underway and I’m thrilled with the progress towards our commitment to becoming a more focused, more franchised, and more efficient growth company. First-quarter results were a solid start to the year, reflecting particular strength at the KFC division and Taco Bell U.S. With this quarter, we have a healthy foundation to help us achieve our 2019 guidance,” Yum! Brands CEO Greg Creed said
“Through the lens of our four growth drivers, we continue to leverage our unprecedented scale and expand our capabilities with the goal of improving franchise economics and accelerating growth. We remain confident in our enviable business model and our commitment to lasting growth that maximizes shareholder value.”
Yum! Brands also opened 310 net units during the period, taking into account the company’s partnership with the Telepizza Group in the latter part of 2018.
