News
Yum! Brands Q2 profits up 4%
July 16, 2008
LOUISVILLE, Ky. –- Same store sales for Yum! Brands Inc., parent company of KFC, Pizza Hut, Taco Bell, Long John Silver's and A&W All American Food, grew 4 percent in the second quarter ended June 14, 2008, with the highest growth coming from mainland China: up 14 percent. U.S. same-store sales were up 2 percent.
Total revenue for the quarter was $2.7 billion, up 12 percent from the same quarter last year. Net income was $224 million, up 4 percent from last year's $214 million.
The company reported that sales in China were up $68 million thanks to a consolidation of an entity there in which the company has a majority interest. In the United States, net income was affected by the $30 million increase in commodities costs as well as weak sales and profit at KFC.
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