Yum Brands comparable sales miss as Pizza Hut, Taco Bell disappoint

[August 02, 2018]  (Reuters) - Yum Brands Inc's <YUM.N> quarterly sales at established outlets fell short of Wall Street estimates on Thursday, as fewer customers dined at its Pizza Hut and Taco Bell chains.

Logos of KFC, owned by Yum Brands Inc, are seen on its delivery bicycles in front of its restaurant in Beijing February 25, 2013. REUTERS/Kim Kyung-Hoon/File Photo

Sales at Yum's worldwide restaurants open for at least a year rose 1 percent, missing analysts' average estimate of a 1.92 percent rise, according to Thomson Reuters I/B/E/S.

Same-store sales at Pizza Hut posted a surprise drop of 1 percent, missing expectations of a 1.21 percent increase, while Taco Bell's 2 percent rise also fell short of estimates.

Net income rose to $321 million, or 97 cents per share, in the second quarter ended June 30 from $206 million, or 58 cents per share, a year earlier.

Excluding one-time items, Yum earned 82 cents per share, beating analysts' expectations of 74 cents.

Total revenue fell 5.5 percent to $1.37 billion, but edged past estimates of $1.36 billion.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Anil D'Silva)

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