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Yum! Brands : KFC U.S. Reports Same-store Sales Growth Of Mid-teens

Yum! Brands Inc. (YUM), in its intra-quarter business update, said that KFC U.S. reported same-store sales growth of mid-teens from the end of April through the end of Period 5, up from low-twenties declines at the end of March. The result is quarter-to-date same-store sales growth of mid-single digits.

The company noted that trends have improved meaningfully in recent weeks, however, the COVID-19 pandemic continues to impact sales in numerous markets across the world, particularly in markets where we continue to experience significant temporary restaurant closures.

According to the company, Pizza Hut U.S. reported same-store sales growth of low-teens from the end of April through the end of Period 5, up from mid-teens declines at the end of March. The result is quarter-to-date same-store sales growth of low-single digits.

Taco Bell U.S. delivered same-store sales growth of slightly positive from the end of April through the end of Period 5, up from declines of approximately thirty at the end of March. The result is a quarter-to-date same-store sales decline of high-single digits.

In early May, Pizza Hut U.S. recorded its highest delivery and carry-out average sales week in the past eight years. Similarly, in early May KFC U.S. recorded the highest average sales per store in a week in brand history, the company said.

Taco Bell has also performed very well in the dinner daypart driving year over year check growth; however, the brand continues to experience COVID-related impact from significant traffic declines during the breakfast and late-night occasions.

The company said outside the U.S. for Period 4/April, KFC same-store sales declined approximately 40% and Pizza Hut same-store sales declined approximately 30%. Both brands improved outside the U.S. for Period 5/May as stores reopened, with KFC same-store sales declining approximately 25% and Pizza Hut same-store sales declining approximately 10%.

In its quarter-to-date through Period 5/May update, the company noted that consolidated Yum! Brands Global same-store sales declined 19%. The vast majority of this decline was driven by temporary restaurant closures. KFC Global same-store sales declined 26%. Pizza Hut Global same-store sales declined 10%. Taco Bell Global same-store sales declined 11%.

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