LOUISVILLE, Ky. -- According to a report in The Wall Street Journal, Tricon Global Restaurants Inc. reported a 1 percent increase in U.S. blended same-store sales over a four-week period that ended Nov. 3.
Same-store sales increased 9 percent at Taco Bell and 6 percent at KFC. But for the second month in a row, sales dropped at Pizza Hut: 10 percent in October and 6 percent in September.
This October's numbers stand in sharp contrast to last year, when Pizza Hut posted a 9 percent same-store sales increase coinciding with its roll-out of The Insider pizza.
Despite the news, which was released on Nov. 8, Tricon stock held steady at around $50 per share, some $2 below its year-high price of $52.41 set two days ago.
According to a statement released by Tricon, the company still expects the world's largest pizza chain to end 2001 with positive sales momentum and post full-year positive same-store sales.