An indication is posted in entrance of a Taco Bell eating place on Would possibly 01, 2024 in Richmond, California. Justin Sullivan | Getty ImagesYum Manufacturers on Tuesday reported a combined quarter as each Pizza Hut and KFC reported declining same-store gross sales.Here is what the corporate reported when compared with what Wall Side road used to be anticipating, in accordance with a survey of analysts by way of LSEG:Profits in keeping with percentage: $1.35 adjusted vs. $1.33 expectedRevenue: $1.76 billion vs. $1.8 billion expectedYum reported second-quarter web source of revenue of $367 million, or $1.28 in keeping with percentage, down from $418 million, or $1.46 in keeping with percentage, a 12 months previous.Apart from pieces, the corporate earned $1.35 in keeping with percentage.Web gross sales rose 4% to $1.76 billion, fueled by way of new eating place openings. Yum’s same-store gross sales fell 1% within the quarter as each Pizza Hut and KFC reported same-store gross sales declines of three%.KFC’s U.S. eating places persevered to battle, with home same-store gross sales shrinking 5%. And even supposing the rooster chain’s gadget gross sales picked up this quarter in China, its biggest marketplace, KFC’s general global same-store gross sales fell 3%.Pizza Hut’s U.S. same-store gross sales reduced 1%, whilst its global same-store gross sales declined 4%.Taco Bell, the crown jewel of Yum’s portfolio, noticed its same-store gross sales build up 5% within the quarter. The chain’s footprint is in large part concentrated within the U.S., the place its popularity for price has helped it climate the pullback in shopper spending.On Wednesday, Yum introduced plans to extend its rollout of synthetic intelligence throughout Taco Bell drive-thru lanes to masses of its U.S. eating places by way of the tip of the 12 months.This tale is creating. Please test again for updates.
