“Trends have improved meaningfully in recent weeks," the Louisville, Ky., company said in a Securities and Exchange Commission filing.
["However,] the covid-19 pandemic continues to impact sales in numerous markets across the world, particularly in markets where we continue to experience significant temporary restaurant closures.”
KFC U.S. registered same-store-sales growth in the mid-teens percent during May, swinging from a drop in the low 20s percent during March. “The result is quarter-to-date same-store sales growth of mid-single digits,” Yum said.
The current quarter began April 1.
Pizza Hut U.S. delivered same-store-sales growth in the low-teens during May, swinging from the negative mid-teens in March. “The result is quarter-to-date same-store sales growth of low-single digits’” the company said.
Taco Bell U.S. posted same-store sales growth of slightly positive in May, swinging from a drop of 30% in March. “The result is a quarter-to-date same-store sales decline of high-single digits,” Yum said.
Yum’s consolidated global same-store sales for the quarter-to-date through May dropped 19%.
"Our results outside the U.S. continue to be choppy, primarily due to temporary restaurant closures," Yum Brands said in the filing.
KFC global same-store sales fell 26%, Pizza Hut global same-store sales slid 10%, and Taco Bell global same-store sales sagged 11%.
With many restaurants reopening in recent weeks, only 10% of Yum’s 50,000 restaurants were still closed as of June 9.
Yum shares at last check traded at $94.84, off 0.8%. The stock has risen 14% over the past three months.