Yum! Brands reported solid third-quarter growth, fuelled by strong performances from Taco Bell and KFC, while confirming a strategic review of its Pizza Hut business as part of efforts to “maximise long-term value creation” across its global portfolio.
The group, which operates over 62,000 restaurants globally, reported a 5% increase in system sales, driven by growth at Taco Bell (+9%) and KFC (+6%), while Pizza Hut recorded a 1% decline.
Like-for-like sales rose 7% at Taco Bell and 3% at KFC, while Pizza Hut sales were flat. Total digital sales reached a record £7.8 billion ($10 billion), accounting for roughly 60% of all transactions.
New CEO Chris Turner, who assumed leadership this quarter, stated that his priorities include improving franchisee economics, expanding Yum!’s Byte digital platform, and “staying relevant with the next generation of consumers.”
Alongside the Pizza Hut review, Yum! announced plans to acquire 128 Taco Bell restaurants across the US Southeast, adding high-margin locations to its equity portfolio. The company also revealed senior leadership changes, including Ranjith Roy as CFO and Sean Tresvant as Taco Bell CEO.
KFC continued its rapid expansion, opening 760 new locations across 60 countries, while Taco Bell added 74 and Pizza Hut 289 new sites.
