Jefferies Cuts Price target on Yum! Brands (YUM) to $71 Following 3Q
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Yum! Brands Reports Third-Quarter EPS Growth of 14%, Excluding Special Items; China Sales Recovery Continues although Slower-than-Expected Pace and Stronger Foreign Exchange Headwinds Result in Lower
October 6, 2015 4:15 PM EDTLOUISVILLE, Ky.--(BUSINESS WIRE)-- Yum! Brands, Inc. (NYSE: YUM) today reported results for the third quarter ended September 5, 2015, including EPS of $1.00, excluding Special Items. Reported EPS was $0.95.
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THIRD-QUARTER HIGHLIGHTS
Worldwide system sales grew 6%. Worldwide restaurant margin increased 3.3 percentage points to 18.2%, and worldwide operating profit increased 23%. Total international development was 376 new restaurants; 72% of this development... More