Yum! Brands reports improved China performance
Jan. 13, 2016
by Erica Shaffer
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LOUISVILLE, Ky. – Yum! Brands Inc. said December that same-store sales in its China Division grew an estimated 1 percent year-over-year, including 5 percent growth at KFC and a decline of 11 percent at Pizza Hut.
For the fourth quarter, same-store sales in China grew an estimated 2 percent, which included estimated growth of 6 percent at KFC and an estimated decline of 8 percent at Pizza Hut, Yum! said in a filing with the Securities and Exchange Commission
. The period includes September through December for the company’s China division.
In October, Yum! revealed its plans to spin off its China division into a separate, publicly traded company. Yum! China will become a franchisee of Yum! Brands in mainland China. The Shanghai-based business will have exclusive rights to KFC, Pizza Hut and Taco Bell.
The company’s next earnings release is scheduled for Feb. 4.