Yum’s profit rises as KFC in China sales rebound
NEW YORK (AP) — Yum reported a higher-than-expected profit for its first quarter as sales recovered at its KFC chain in China.
The company, which also owns Taco Bell and Pizza Hut, said sales at established locations in China rose 9 percent for the period.
The company has been working to bounce back from a controversy over its chicken supply in China, where it is the biggest Western fast-food operator. Back in the U.S., Taco Bell’s sales at existing locations dipped 1 percent.
For the quarter, Yum Brands Inc. earned $399 million, or 87 cents per share, topping the 84 cents per share analysts expected. A year ago, it earned $337 million, or 72 cents per share.
Revenue rose to $2.72 billion, but was short of the $2.81 billion Wall Street expected.