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Tricon's stock up, but Pizza Hut's sales down

March 28, 2002

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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.