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Yum! Brands Reports Second Quarter Results
Yum! Brands, Inc. reported results for the second-quarter ended June 30, 2021. Worldwide system sales excluding foreign currency translation grew 26%, with 23% same-store sales and 2% unit growth. Second-quarter GAAP EPS was $1.29, an increase of 91% over the prior year quarter. Second-quarter EPS excluding Special Items was $1.16, an increase of 41% over the prior year quarter.
DAVID GIBBS COMMENTS
David Gibbs, CEO, said “Our strong second-quarter results, led by record unit development and 23% same-store sales growth are a testament to our iconic brands, world-class talent, and best-in-class franchisees. I’m proud that each of our divisions reported positive same-store sales growth on a 2-year basis, a step up...
Yum! Brands Annual Global Citizenship & Sustainability Report Shows Company's Commitment to Growth
Yum! Brands, Inc. released its annual Global Citizenship & Sustainability Report, highlighting the Company’s strategic investments in socially responsible growth, risk management and sustainable stewardship of its people, food and impact on the planet. Yum! and its KFC, Pizza Hut, Taco Bell and The Habit Burger Grill brands made progress in critical areas including climate action, food safety and creating greater equity and opportunity across its system.
“2020 marked a turning point for communities and businesses around the world, as the pandemic deepened existing societal issues and inequalities"...
Yum! Brands Undertakes to Acquire Dragontail Systems
Yum! Brands and Dragontail Systems Limited, an innovative provider of technology solutions for the food industry, announced that they have entered into a binding agreement under which Yum! Brands would acquire Dragontail by way of a share scheme of arrangement in accordance with Australian corporations law (referred to as the Scheme).
If the Scheme is successfully implemented, the addition of Dragontail to Yum! Brands’ growing technology portfolio is intended to give Yum! Brands the ability to scale Dragontail’s artificial intelligence (AI) kitchen order management and delivery technology globally.
Australia-based Dragontail’s platform is focused on optimizing and managing the entire food preparation process from order through delivery. Its AI-based solution automates...
KFC Unveils New Modernized Packaging, Available Early this Summer
As KFC continues to grow, it is always keeping tabs on ways to improve its customers' experience. The company's latest innovation efforts have been focused on creating KFC's new sleek, clean and modernized packaging that will show up in restaurants early this summer.
The new packaging reflects the brand's identity with a more modern take on the KFC signature red and white stripes. It will feature reheating instructions – because KFC's fried chicken is just as good the next day – and...
The updated buckets will showcase a fresh "Fried with Pride" design featuring...
KFC and Franchisees Hiring 20,000 Restaurant Employees
Kentucky Fried Chicken announced strong Q1 earnings results last week, as customers increasingly chose the comfort and convenience of drive-thru, carry-out, and delivery of classics like KFC's Family Fill-Up and new offerings like the Kentucky Fried Chicken Sandwich. Now, as demand continues to grow, the fried chicken chain hopes to hire 20,000 permanent full-time and part-time company and franchisee restaurant positions across the nation.
KFC's strong earnings announcement highlighted 14 percent growth in Q1 and same-store sales growth of 11 percent on a two-year basis, highlighting the need to fill 20,000 permanent positions nationwide. The open positions will vary by restaurant but will include positions at all levels including...
Yum China Reports First Quarter 2021 Results
Yum China Holdings reported unaudited results for the first quarter ended March 31, 2021.
Impact of COVID-19 Outbreak and Mitigation Efforts
Yum China reported substantial year-over-year growth in the first quarter, as the Company began to lap prior year periods that were impacted by COVID-19. System sales growth was mainly attributable to same-store sales growth, new unit contribution and substantially fewer temporary store closures. Operating Profit growth was further driven by lower commodity prices and productivity gains.
First quarter sales were impacted by regional resurgences of COVID-19 before the Chinese New Year and tightened public health measures across China. The tightened measures and...
Yum! Brands Reports First-Quarter Results
Yum! Brands reported results for the first-quarter ended March 31, 2021. Worldwide system sales excluding foreign currency translation grew 11%, with 9% same-store sales and 1% unit growth. First-quarter GAAP EPS was $1.07. First-quarter EPS excluding Special Items was also $1.07, an increase of 67% over the prior year quarter.
David Gibbs Comments
David Gibbs, CEO, said “First-quarter results reflect encouraging momentum across our business, including solid 2-year same-store sales growth and a meaningful uplift in unit development, underpinned by the focus and collaboration of our franchise partners and restaurant teams around the world. During the quarter we took important steps to further boost our digital and marketing capabilities through the acquisitions of...
Yum! Brands Announces Approved Science-Based Targets to Address Climate Change
Yum! Brands, parent company of KFC, Pizza Hut, Taco Bell and The Habit Burger Grill restaurants, announced it will decrease its greenhouse gas (GHG) emissions 46% by 2030 in partnership with its franchisees, suppliers and producers as part of its broader strategy to address climate change. Additionally, Yum! pledged to achieve net-zero emissions by 2050. The science-based targets (SBTs) are consistent with reductions required to keep warming to 1.5ºC and have been approved by the Science Based Targets initiative.
“Climate change is one of the top priorities of our Recipe for Good strategy, and we’re investing significantly in sustainable growth to address this issue by working closely with our brands, franchisees and suppliers,” said David Gibbs, Yum! Brands CEO. “We believe in the collective power of Yum! and...
Beyond Meat Announces Global Strategic Agreements with McDonald's and Yum! Brands
Following the release of its financial results for the fourth quarter and full year 2020, Beyond Meat announced a global strategic partnership with McDonald's and Yum! Brands to offer signature plant-based menu items.
As part of the three-year global agreement with McDonald's, Beyond Meat will be the preferred supplier for the patty in the McPlant, a new plant-based burger being tested in select McDonald's markets globally. Additionally, Beyond Meat and McDonald's will explore developing other plant-based menu items together, including options for chicken, pork, and eggs, as part of McDonald's broader McPlant platform.
The announcement further solidifies the relationship between McDonald's and Beyond Meat, which began in 2019 with the test of...
Kentucky Fried Chicken Introduces New Chicken Sandwich
Kentucky Fried Chicken kicked off 2021 with the introduction of its best chicken sandwich ever. The new KFC Chicken Sandwich is available in select markets and will be available seven days a week in all 4,000 KFC restaurants in the U.S. by the end of February.
The new sandwich features a quarter-pound, all-white meat, double-breaded chicken breast filet, toasted buttery brioche bun, thicker pickles, and...
Britain’s Drive Thru Spend Up 45% September to November 2020
The trend for ordering food and drinks from our cars at Britain’s growing number of drive-thru restaurants soared from September to November 2020 according to global information company The NPD Group. There were 121 million visits to Britain’s 2,000 quick service restaurants (QSR) that offer drive-thru in those three months in 2020, a 14% increase on the same period last year. Spend was up 45% to £723m over this time frame, with consumers tending to place larger-than-average orders at the drive-thru window.
According to footfall analysis from NPD’s SnapMyEats data, the growth in drive-thru in these three months was a result of consumers switching from eating in and takeaway options during lockdowns and tiering, rather than...
McDonald's to Launch Three New Chicken Sandwiches Next Month
McDonald's is launching three chicken sandwiches beginning February 24, joining long-time sandwich favorites like the Big Mac, Quarter Pounder, Egg McMuffin, and Filet-O-Fish. The new options include a Crispy Chicken Sandwich, Spicy Chicken Sandwich, and the Deluxe Chicken Sandwich.
McDonald's began testing the Crispy Chicken Sandwich in Houston and Knoxville, Tennessee, last year. The sandwich is made of a fried chicken filet served on a potato roll, topped with butter and pickles. The spicy option comes with a spicy pepper sauce, and the deluxe sandwich comes with shredded lettuce, tomatoes, and mayo.
In November, Joe Erlinger, President of McDonald's USA, said a new crispy chicken sandwich would...
Yum China Reports Third Quarter 2020 Results
Yum China Holdings, Inc. reported unaudited results for the third quarter ended September 30, 2020.
Third quarter operations improved, although still impacted by reduced traffic at transportation and tourist locations, the delayed and shortened school holiday and the other lingering effects of the COVID-19 outbreak. Dine-in volume has been recovering, while delivery and takeaway remained popular options. The Company's primary focus continues to be safety, efficiency and driving traffic. We launched attractive digital and membership campaigns with...
KFC Launches New Signature Sauce to Pair with Fried Chicken
Kentucky Fried Chicken announced that it is launching a new signature dipping sauce that's sure to make fried chicken fans rejoice. Introducing KFC Sauce, a signature sauce that is tangy and sweet, with a bit of smokiness specifically designed to pair with KFC's Extra Crispy Tenders.
"When we set out to create a new signature dipping sauce, we went right to the experts – our customers – to find out what made a sauce best-in-class for dipping," said Andrea Zahumensky, chief marketing officer, KFC U.S. "We went through 50 iterations, and their response to this recipe was overwhelming!"
Beginning October 12 in all KFC U.S. restaurants, fried chicken dipping fans can enjoy the new signature KFC Sauce along with...
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