Yum! Brands (YUM) shares edge higher after topping earnings expectations
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Yum Brands beats estimates as Taco Bell lures value hunters
February 8, 2023 7:04 AM ESTBy Deborah Mary Sophia and Hilary Russ
(Reuters) -Yum Brands Inc beat Street estimates for quarterly sales and profit on Wednesday, as strong demand for wallet-friendly meals at its Taco Bell restaurants helped offset weaker growth in its Pizza Hut and KFC chains.
Taco Bell's $2 burritos and $1.49 breakfast offerings attracted more low-income consumers looking for cheaper options amid decades-high inflation, while wealthier customers looking to save also increased orders from Yum's outlets.
"We are seeing higher-income customers coming more frequently. And some of that is no doubt due to trade down into our brands," Yum's Chief... More
Yum! Brands (YUM) Tops Q4 EPS by 5c
February 8, 2023 7:02 AM ESTYum! Brands (NYSE: YUM) reported Q4 EPS of $1.31, $0.05 better than the analyst estimate of $1.26. Revenue for the quarter came in at $2.02 billion versus the consensus estimate of $1.92 billion.
For earnings history and earnings-related data on Yum! Brands (YUM) click here.
... More