LOUISVILLE, Ky. — Yum! Brands Inc., operator of the KFC, Pizza Hut, Taco Bell, Long John Silver's and A&W brands, plans to expand its U.S. refranchising efforts, with a target of less than 10 percent company ownership by the end of 2010, compared with the present 20 percent company ownership.
Yum plans to open at least 450 new restaurants in its China division next year, with at least 425 new restaurants slated to open in mainland China, including 310 KFCs, 85 Pizza Hut Casual Dining restaurants, 20 Pizza Hut Home Service restaurants and 10 East Dawnings restaurants.
The company plans to open at least 750 new restaurants in its international division, including 450 new KFCs, 250 new Pizza Huts and approximately 15 Taco Bells. Yum plans to open about 350 new restaurants in the United States.
Yum expects earnings-per-share growth of at least 10 percent for 2008, the company said.