Pizza Hut's negative same-store sales in the fourth quarter of 2009 and for the overall year hurt Yum! Brands' numbers for the corresponding times. But the company is in good shape in terms of international expansion, having added 1,467 new restaurants world-wide and a record 509 new units in mainland China last year.
Yum! Brands reported U.S. same-store sales declined 5 percent for the full year and 8 percent in the fourth quarter of 2009, including a decline of 12 percent at Pizza Hut. China same-store sales dipped for Q4 2009 by 3 percent, and 1 percent for the full year. In the international market, Yum! reported same-store sales grew 1 percent for the full year and declined 2 percent for the fourth quarter.
The company's net income went from $204 million in Q4 2008 to $216 million in Q4 2009, a 6 percent increase. Year-to-date numbers were $964 million for 2008 vs. more than $1 billion for 2009, an increase of 11 percent. Total revenues for Q4 2008 were $3.4 billion, relatively flat for the corresponding Q4 2009 period. Year-to-date revenues went from $11.3 billion in 2008 to $10.8 billion in 2009, a 4 percent decrease.
Yum! Brands CEO David C. Novak focused on the positive for the year and quarter's numbers, including the company's international growth and future measures.
"Given the tough macro environment, I am especially pleased to announce 2009 was another strong year of performance as we continue our quest to make Yum! Brands 'The Defining Global Company That Feeds the World,'" Novak said. "We are aggressively developing incremental sales layers including breakfast, new beverages and expanded protein options. Our goal is to provide more meaningful menu variety to our customers and leverage our assets throughout the day. We are putting these same building blocks in place to drive long-term growth at Taco Bell in the U.S., where we are also making steady progress transforming and restructuring our Pizza Hut and KFC businesses."