KFC India Operator Sapphire Posts Marginal Revenue Miss as Sales in Older Stores Disappoint
Sapphire Foods India, which operates Pizza Hut and KFC restaurants in the country, reported quarterly revenue slightly below estimates on Wednesday, hurt by disappointing sales at its older stores.
Operators of U.S. chains KFC, McDonald's and Burger King in India face a double blow, grappling not only with stiff competition from local rivals but also shrinking consumer spending due to high living costs and slow wage growth...
To prop up demand during the quarter, KFC promoted its "epic weekender" deal, offering up to a 34% discount, while Pizza Hut gave away a drink and two sides for free with pizzas during its "super sale...
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