Yum Brands U.S. Same-Store Sales Posted Growth in May - TheStreet

Yum Brands U.S. Same-Store Sales Posted Growth in May

Yum Brands, owner of KFC, Pizza Hut and Taco Bell, reported that U.S. same-store sales rose at all three chains during May.
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Yum Brands  (YUM) - Get Report, owner of KFC, Pizza Hut and Taco Bell, reported that sales rose at all three chains in the U.S. during May.

“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.