Yum announces fourth-quarter profit

RetailME Bureau

Yum! Brands Inc. (Yum), owner of the KFC and Taco Bell fast-food chains, posted fourth-quarter profit. The company’s revenue rose 0.6% to $4.18 billion. However, net income declined 4.7% to $321 million from $337 million a year earlier.

Yum’s strong results in the Middle East, Africa, Russia and France boosted its fourth-quarter sales. The company gets about a quarter of its revenue from its international division where sales at restaurants open at least for a year rose 2% in the said quarter.

On the other hand, its same-store sales in the fourth quarter declined 4% in China as KFC struggled to attract diners after an outbreak of bird flu last year. Similarly, US comparable-store sales at Yum stores fell 2% in the quarter as sales slipped at Pizza Hut and KFC.