LOUISVILLE, Ky. -- Yum! Brands, owner of Pizza Hut, reported April 23 that same-store sales at company-owned Red Roof units dropped 3 percent for the first quarter of 2003, ended March 22. Excluding the impact of the shift of the Easter holiday to the next quarter, Pizza Hut sales were off 4 percent.
Yum does not report franchised unit numbers.
The broader picture for the multibrand giant was slightly more favorable. Though first-quarter profit dropped 5.6 percent compared to the same period last year, revenue increased 12 percent to $1.8 billion, up from $1.6 billion last year.
U.S. same-store sales at sister chains Taco Bell and KFC rose 1 percent and 6 percent respectively, boosting U.S. blended same-store sales 1 percent.