Operations

Taco Bell shines as sole bright spot in Yum Brands Q1 sales

Taco Bell sales ticked up during a troubled first-quarter for most QSR brands. (Photo iStock)

April 30, 2020

Though KFC, Pizza Hut, Taco Bell and The Habit Burger Grille parent, Yum Brands, recorded a Q1 same-store sales decline of 7% after the tumultuous first quarter of this year, the company said Taco Bell same-store sales actually grew over the January through March period, according to documents filed with the U.S. Securities and Exchange Commission. 

Adjusted EPS for Q1 for the company was 64 cents on revenue of $1.26 billion, while net income fell quarter-year over quarter-year from $262 million or 83 cents a share last year's quarter to $83 million or 27 cents a share.

"First-quarter results reflect two different realities," said Yum Brands CEO David Gibbs in the report to investors. "We began the year with momentum across many of our businesses, however as the quarter progressed we were heavily impacted by the unfortunate spread of COVID-19. 

Other key highlights of the company's Q1 financial report, include: 

• KFC's same-store sales shrank 8% in the quarter, or 2% globally, excluding China.
• Pizza Hut same-store sales declines of 11% as sales, or 5% globally, excluding China. 
• Taco Bell system sales grew 4%. was the only brand to report positive same-store sales 
• 276 Habit Burger Grill units acquired, where the company reported for informational purposes only that same-store sales fell 9% in Q1.