Business

Pizza Hut, KFC and Taco Bell sales bounce back in US as restrictions ease

KFC restaurant. Photo: AP/Press Association Images

Profit at the company that runs Pizza Hut, Taco Bell and KFC restaurants more than tripled during the first quarter and same-store sales surged as coronavirus restrictions began to lift this year.

Yum Brands earned $326 million (€269 million) for the period ending March 31st, which last year was marked by exploding Covid-19 infections in the US.

In that three-month stretch last year, the company’s profit fell to $83 million, compared with $262 million in the same three months in 2019.

Yum Brands runs Taco Bell. Photo: PA

So the bounceback for the company’s restaurants was better than pre-pandemic levels.

Revenue jumped 18 per cent to $1.49 billion, beating expectations.

Sales at stores open at least a year, a key gauge of a restaurant operator’s health, climbed 9 per cent.

KFC’s same-store sales increased 14 per cent in the US, while Pizza Hut’s grew 16 per cent. Those results were double its performances overseas.

Source:

www.breakingnews.ie

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